Altria Group (NYSE:MO) Trading 0.7% Higher

Shares of Altria Group, Inc. (NYSE:MO - Get Free Report) were up 0.7% during mid-day trading on Monday . The company traded as high as $42.58 and last traded at $42.39. Approximately 2,821,495 shares changed hands during trading, a decline of 76% from the average daily volume of 11,747,912 shares. The stock had previously closed at $42.09.

Analysts Set New Price Targets

Several research firms have recently commented on MO. UBS Group raised their price objective on Altria Group from $36.10 to $36.50 and gave the stock a "sell" rating in a research note on Monday, April 8th. StockNews.com downgraded Altria Group from a "buy" rating to a "hold" rating in a research note on Sunday, April 14th. Finally, Stifel Nicolaus reiterated a "buy" rating and set a $50.00 price objective on shares of Altria Group in a research report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Altria Group presently has an average rating of "Hold" and a consensus target price of $46.90.

Altria Group Stock Up 1.1 %

The business has a 50 day moving average of $41.91 and a 200 day moving average of $41.43. The company has a market capitalization of $73.12 billion, a P/E ratio of 9.31, a price-to-earnings-growth ratio of 2.53 and a beta of 0.65.

Altria Group (NYSE:MO - Get Free Report) last posted its earnings results on Thursday, February 1st. The company reported $1.18 EPS for the quarter, beating analysts' consensus estimates of $1.17 by $0.01. The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.06 billion. Altria Group had a negative return on equity of 244.55% and a net margin of 33.21%. The company's quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.18 EPS. On average, research analysts anticipate that Altria Group, Inc. will post 5.09 EPS for the current year.

Altria Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, March 25th will be given a $0.98 dividend. The ex-dividend date of this dividend is Friday, March 22nd. This represents a $3.92 annualized dividend and a yield of 9.21%. Altria Group's dividend payout ratio is currently 85.78%.

Altria Group announced that its board has initiated a stock repurchase plan on Thursday, February 1st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MO. Maryland Capital Advisors Inc. increased its stake in Altria Group by 154.4% in the first quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company's stock worth $25,000 after purchasing an additional 349 shares during the period. Accordant Advisory Group Inc bought a new stake in Altria Group during the 1st quarter valued at about $26,000. Altshuler Shaham Ltd purchased a new stake in Altria Group in the 3rd quarter valued at about $26,000. Nemes Rush Group LLC grew its stake in Altria Group by 103.2% in the 3rd quarter. Nemes Rush Group LLC now owns 636 shares of the company's stock worth $27,000 after acquiring an additional 323 shares in the last quarter. Finally, Westend Capital Management LLC purchased a new position in shares of Altria Group during the first quarter worth approximately $29,000. 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.