Altria Group (NYSE:MO) Trading Down 1% - Here's What Happened

Altria Group, Inc. (NYSE:MO - Get Free Report)'s stock price was down 1% during mid-day trading on Thursday . The company traded as low as $60.28 and last traded at $60.33. Approximately 1,315,025 shares were traded during trading, a decline of 85% from the average daily volume of 8,726,950 shares. The stock had previously closed at $60.91.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MO shares. Morgan Stanley decreased their target price on Altria Group from $54.00 to $53.00 and set an "equal weight" rating for the company in a report on Friday, January 31st. Stifel Nicolaus boosted their target price on Altria Group from $60.00 to $63.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. StockNews.com cut Altria Group from a "buy" rating to a "hold" rating in a report on Thursday, May 1st. Barclays upped their price target on Altria Group from $46.00 to $49.00 and gave the stock an "underweight" rating in a report on Friday, May 2nd. Finally, Citigroup upped their price target on Altria Group from $52.00 to $55.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $56.00.

Altria Group Stock Performance

The company has a market capitalization of $95.90 billion, a PE ratio of 8.69, a PEG ratio of 2.89 and a beta of 0.60. The company has a 50 day moving average price of $58.04 and a 200 day moving average price of $55.29.

Altria Group (NYSE:MO - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.19 by $0.04. The company had revenue of $4.52 billion during the quarter, compared to analysts' expectations of $4.64 billion. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. The business's revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.15 EPS. On average, equities analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th were paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 7.17%. The ex-dividend date of this dividend was Tuesday, March 25th. Altria Group's dividend payout ratio (DPR) is presently 68.34%.

Institutional Investors Weigh In On Altria Group

Large investors have recently added to or reduced their stakes in the stock. Financial Life Planners acquired a new position in shares of Altria Group during the fourth quarter valued at $25,000. Redwood Park Advisors LLC bought a new position in Altria Group during the fourth quarter valued at about $26,000. VSM Wealth Advisory LLC acquired a new position in shares of Altria Group in the 4th quarter valued at $29,000. Inlight Wealth Management LLC acquired a new position in shares of Altria Group in the 1st quarter valued at $31,000. Finally, Sierra Ocean LLC boosted its position in shares of Altria Group by 226.3% in the 1st quarter. Sierra Ocean LLC now owns 509 shares of the company's stock valued at $31,000 after purchasing an additional 353 shares during the period. 57.41% of the stock is owned by institutional investors and hedge funds.

Altria Group Company Profile

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.