Altria Group, Inc. (NYSE:MO - Get Free Report)'s stock price dropped 4.2% during trading on Wednesday . The stock traded as low as $56.95 and last traded at $57.05. Approximately 11,650,974 shares traded hands during mid-day trading, an increase of 35% from the average daily volume of 8,601,984 shares. The stock had previously closed at $59.54.
Analyst Ratings Changes
MO has been the subject of several analyst reports. Citigroup increased their price objective on shares of Altria Group from $52.00 to $55.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. Jefferies Financial Group started coverage on shares of Altria Group in a report on Wednesday. They issued an "underperform" rating and a $50.00 price objective for the company. Deutsche Bank Aktiengesellschaft set a $60.00 price target on shares of Altria Group in a report on Tuesday, April 1st. UBS Group upgraded Altria Group from a "sell" rating to a "neutral" rating and upped their target price for the stock from $47.00 to $59.00 in a research note on Wednesday, July 2nd. Finally, Needham & Company LLC raised shares of Altria Group to a "hold" rating in a report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Altria Group presently has an average rating of "Hold" and an average target price of $56.75.
Get Our Latest Research Report on Altria Group
Altria Group Price Performance
The company has a market cap of $98.08 billion, a P/E ratio of 9.75, a P/E/G ratio of 3.49 and a beta of 0.59. The stock's 50-day moving average is $59.30 and its two-hundred day moving average is $56.55.
Altria Group (NYSE:MO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.04. Altria Group had a net margin of 43.09% and a negative return on equity of 295.44%. 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 firm earned $1.15 earnings per share. The company's quarterly revenue was down 4.2% on a year-over-year basis. On average, analysts predict that Altria Group, Inc. will post 5.32 EPS for the current year.
Altria Group Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Monday, June 16th will be paid a $1.02 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.01%. Altria Group's dividend payout ratio (DPR) is presently 68.34%.
Hedge Funds Weigh In On Altria Group
A number of institutional investors and hedge funds have recently made changes to their positions in MO. Mattson Financial Services LLC bought a new stake in shares of Altria Group in the 1st quarter worth about $25,000. Redwood Park Advisors LLC bought a new stake in shares of Altria Group in the 4th quarter worth about $26,000. Sierra Ocean LLC lifted its holdings in shares of Altria Group by 226.3% in the 1st quarter. Sierra Ocean LLC now owns 509 shares of the company's stock worth $31,000 after acquiring an additional 353 shares during the last quarter. Inlight Wealth Management LLC bought a new stake in shares of Altria Group in the 1st quarter worth about $31,000. Finally, VSM Wealth Advisory LLC bought a new stake in shares of Altria Group in the 4th quarter worth about $29,000. 57.41% of the stock is owned by hedge funds and other institutional investors.
About Altria Group
(
Get Free Report)
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.
Featured Articles
Before you consider Altria Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Altria Group wasn't on the list.
While Altria Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
