Altria Group (NYSE:MO) Coverage Initiated at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of Altria Group (NYSE:MO - Free Report) in a research report sent to investors on Wednesday morning, MarketBeat reports. The firm issued an underperform rating and a $50.00 target price on the stock.

A number of other research firms have also weighed in on MO. Deutsche Bank Aktiengesellschaft set a $60.00 target price on shares of Altria Group in a research report on Tuesday, April 1st. Citigroup boosted their target price on shares of Altria Group from $52.00 to $55.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. Wall Street Zen cut Altria Group from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Barclays increased their price objective on Altria Group from $46.00 to $49.00 and gave the company an "underweight" rating in a research report on Friday, May 2nd. Finally, Needham & Company LLC raised Altria Group to a "hold" rating in a research report on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $56.75.

Altria Group Stock Up 1.4%

Shares of MO traded up $0.79 during mid-day trading on Wednesday, hitting $58.54. 14,341,124 shares of the company's stock were exchanged, compared to its average volume of 8,657,117. The firm has a fifty day moving average of $59.29 and a two-hundred day moving average of $56.58. Altria Group has a twelve month low of $46.60 and a twelve month high of $61.26. The stock has a market cap of $98.61 billion, a price-to-earnings ratio of 9.81, a P/E/G ratio of 3.38 and a beta of 0.59.

Altria Group (NYSE:MO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates of $1.19 by $0.04. Altria Group had a negative return on equity of 295.44% and a net margin of 43.09%. The business had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period last year, the business earned $1.15 EPS. The firm's revenue was down 4.2% compared to the same quarter last year. On average, equities analysts predict that Altria Group will post 5.32 earnings per share for the current year.

Altria Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Monday, June 16th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 6.97%. The ex-dividend date is Monday, June 16th. Altria Group's dividend payout ratio (DPR) is presently 68.34%.

Institutional Investors Weigh In On Altria Group

Several institutional investors and hedge funds have recently bought and sold shares of MO. Mattson Financial Services LLC acquired a new stake in shares of Altria Group during the 1st quarter worth about $25,000. Redwood Park Advisors LLC acquired a new stake in shares of Altria Group during the 4th quarter worth about $26,000. Carderock Capital Management Inc. acquired a new stake in shares of Altria Group during the 2nd quarter worth about $26,000. VSM Wealth Advisory LLC acquired a new stake in shares of Altria Group during the 4th quarter worth about $29,000. Finally, Inlight Wealth Management LLC bought a new position in Altria Group in the 1st quarter valued at $31,000. Institutional investors own 57.41% of the company's stock.

About Altria Group

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.