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.
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