Altria Group (NYSE:MO) Stock Price Down 0.5% - Here's Why

Shares of Altria Group, Inc. (NYSE:MO - Get Free Report) were down 0.5% during trading on Wednesday . The company traded as low as $56.06 and last traded at $56.17. Approximately 2,271,280 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 9,528,168 shares. The stock had previously closed at $56.47.

Analyst Ratings Changes

Several analysts recently weighed in on MO shares. Morgan Stanley cut their price target on shares of Altria Group from $54.00 to $53.00 and set an "equal weight" rating on the stock in a report on Friday, January 31st. UBS Group lifted their target price on shares of Altria Group from $46.00 to $47.00 and gave the company a "sell" rating in a research note on Wednesday, April 30th. Citigroup increased their price target on shares of Altria Group from $52.00 to $55.00 and gave the stock a "neutral" rating in a research note on Friday, April 25th. Stifel Nicolaus raised their price objective on shares of Altria Group from $60.00 to $63.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft set a $60.00 target price on Altria Group in a report on Tuesday, April 1st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $56.00.

Altria Group Price Performance

The stock's 50 day simple moving average is $58.01 and its two-hundred day simple moving average is $55.41. The firm has a market cap of $98.48 billion, a P/E ratio of 8.93, a P/E/G ratio of 2.89 and a beta of 0.60.

Altria Group (NYSE:MO - Get Free Report) last posted 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 negative return on equity of 258.72% and a net margin of 46.90%. The company had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the prior year, the business posted $1.15 EPS. The firm's quarterly revenue was down 4.2% compared to the same quarter last year. Equities research analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th were given a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 6.98%. The ex-dividend date was Tuesday, March 25th. Altria Group's dividend payout ratio is presently 68.34%.

Institutional Trading of Altria Group

Several institutional investors have recently bought and sold shares of MO. Vanguard Group Inc. lifted its position in Altria Group by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 158,117,225 shares of the company's stock valued at $9,490,196,000 after acquiring an additional 1,300,787 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Altria Group by 5.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 63,288,773 shares of the company's stock worth $3,798,592,000 after purchasing an additional 3,483,487 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Altria Group by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 41,938,507 shares of the company's stock valued at $2,193,687,000 after purchasing an additional 1,134,748 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Altria Group by 0.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 22,273,491 shares of the company's stock valued at $1,164,681,000 after purchasing an additional 76,004 shares in the last quarter. Finally, GQG Partners LLC boosted its position in shares of Altria Group by 8,146.4% during the first quarter. GQG Partners LLC now owns 18,698,594 shares of the company's stock valued at $1,122,290,000 after buying an additional 18,471,846 shares during the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

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.