Altria Group (NYSE:MO) Shares Up 1.1% - Here's What Happened

Key Points

• Altria shares rose 1.1% to $66.51 on Monday, trading as high as $66.55 on about 5.22 million shares—roughly 49% below its average daily volume.
• Analysts carry a consensus "Hold" rating with an average price target of $65.75 (ratings mix: 5 Buy, 4 Hold, 2 Sell).
• The company declared a quarterly dividend of $1.06 (annualized $4.24), implying a 6.4% yield with the ex-dividend/record date on March 25; the dividend payout ratio is 103.16%.

Altria Group, Inc. (NYSE:MO - Get Free Report)'s share price was up 1.1% on Monday . The company traded as high as $66.55 and last traded at $66.5130. Approximately 5,221,317 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 10,280,310 shares. The stock had previously closed at $65.76.

Analysts Set New Price Targets

A number of analysts recently issued reports on MO shares. Citigroup increased their price target on shares of Altria Group from $57.00 to $65.00 and gave the stock a "neutral" rating in a report on Monday, February 9th. Stifel Nicolaus cut their price target on shares of Altria Group from $72.00 to $68.00 and set a "buy" rating for the company in a report on Friday, January 30th. Argus raised shares of Altria Group to a "hold" rating in a research note on Tuesday, January 13th. Jefferies Financial Group boosted their price objective on Altria Group from $47.00 to $50.00 and gave the company an "underperform" rating in a report on Wednesday, March 4th. Finally, Barclays increased their target price on shares of Altria Group from $57.00 to $63.00 and gave the stock an "underweight" rating in a report on Monday, February 23rd. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $65.75.

Altria Group Stock Up 1.1%

The business has a 50 day moving average of $66.06 and a 200 day moving average of $62.50. The firm has a market cap of $111.20 billion, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 2.81 and a beta of 0.41.

Altria Group (NYSE:MO - Get Free Report) last issued its quarterly earnings results on Thursday, January 29th. The company reported $1.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.32 by ($0.02). The business had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.02 billion. Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.The firm's quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the business posted $1.30 earnings per share. Research analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, March 25th will be paid a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date is Wednesday, March 25th. Altria Group's dividend payout ratio (DPR) is 103.16%.

Insider Activity

In other Altria Group news, SVP Charles N. Whitaker sold 27,908 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $67.57, for a total value of $1,885,743.56. Following the sale, the senior vice president directly owned 180,869 shares of the company's stock, valued at $12,221,318.33. This trade represents a 13.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.08% of the company's stock.

Institutional Investors Weigh In On Altria Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MO. Johnson & White Wealth Management LLC boosted its position in Altria Group by 1.2% during the 4th quarter. Johnson & White Wealth Management LLC now owns 12,704 shares of the company's stock worth $733,000 after acquiring an additional 154 shares during the period. Kercheville Advisors LLC grew its stake in Altria Group by 3.7% in the 3rd quarter. Kercheville Advisors LLC now owns 4,397 shares of the company's stock valued at $290,000 after buying an additional 156 shares during the last quarter. Kanawha Capital Management LLC increased its stake in shares of Altria Group by 0.8% in the fourth quarter. Kanawha Capital Management LLC now owns 19,546 shares of the company's stock worth $1,127,000 after purchasing an additional 160 shares during the period. Strategic Advisors LLC lifted its holdings in shares of Altria Group by 2.0% during the fourth quarter. Strategic Advisors LLC now owns 8,243 shares of the company's stock worth $475,000 after buying an additional 160 shares during the last quarter. Finally, Acorn Wealth Advisors LLC raised its position in shares of Altria Group by 1.6% during the fourth quarter. Acorn Wealth Advisors LLC now owns 10,117 shares of the company's stock valued at $583,000 after buying an additional 163 shares during the last quarter. Institutional investors own 57.41% of the company's stock.

Altria Group Company Profile

Altria Group, Inc NYSE: MO is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company's operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria's principal operating businesses include Philip Morris USA (cigarettes), U.S.

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