Altria Group (NYSE:MO) Shares Up 1.7% - Here's What Happened

Key Points

• Altria shares rose 1.7% to $69.63 in mid-day trading, with volume slightly above the average session level.
• Analyst sentiment remains mixed: the stock carries a consensus “Hold” rating and a $70.11 average price target, while recent firms have issued target-price increases and reductions.
• Altria raised its quarterly dividend from $1.06 to $1.11 per share, equivalent to a 6.4% annualized yield; the company’s latest quarterly revenue increased 1.2% year over year, though EPS narrowly missed estimates.

Altria Group, Inc. (NYSE:MO - Get Free Report) shares rose 1.7% during mid-day trading on Tuesday . The company traded as high as $70.53 and last traded at $69.63. 9,815,641 shares changed hands during mid-day trading, an increase of 5% from the average session volume of 9,340,042 shares. The stock had previously closed at $68.48.

Analyst Ratings Changes

MO has been the topic of several recent analyst reports. Jefferies Financial Group increased their target price on shares of Altria Group from $50.00 to $60.00 and gave the company an "underperform" rating in a research note on Wednesday, May 27th. Wall Street Zen downgraded Altria Group from a "buy" rating to a "hold" rating in a research report on Sunday, June 21st. Barclays reduced their target price on Altria Group from $64.00 to $58.00 and set an "underweight" rating on the stock in a research note on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Altria Group from $60.00 to $66.00 and gave the company a "hold" rating in a research note on Monday, May 4th. Finally, BTIG Research initiated coverage on shares of Altria Group in a research report on Tuesday, July 21st. They issued a "neutral" rating for the company. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $70.11.

Altria Group Stock Up 1.7%

The stock has a market capitalization of $116.26 billion, a PE ratio of 14.69, a PEG ratio of 2.43 and a beta of 0.46. The firm has a 50 day moving average price of $70.08 and a 200-day moving average price of $69.01.

Altria Group (NYSE:MO - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.50 by ($0.02). Altria Group had a net margin of 33.99% and a negative return on equity of 315.29%. The company had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same period in the previous year, the firm posted $1.44 earnings per share. The company's revenue was up 1.2% compared to the same quarter last year. Altria Group has set its FY 2026 guidance at 5.610-5.720 EPS. Equities analysts expect that Altria Group, Inc. will post 5.67 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Tuesday, September 15th will be paid a $1.11 dividend. This is a boost from Altria Group's previous quarterly dividend of $1.06. This represents a $4.44 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date of this dividend is Tuesday, September 15th. Altria Group's dividend payout ratio is presently 89.45%.

Institutional Investors Weigh In On Altria Group

A number of hedge funds have recently modified their holdings of MO. BlackRock Inc. grew its position in shares of Altria Group by 1.1% in the second quarter. BlackRock Inc. now owns 126,073,166 shares of the company's stock valued at $9,070,964,000 after purchasing an additional 1,325,175 shares in the last quarter. State Street Corp grew its holdings in Altria Group by 1.6% in the 4th quarter. State Street Corp now owns 72,830,531 shares of the company's stock valued at $4,275,886,000 after buying an additional 1,147,141 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Altria Group by 10.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 65,516,916 shares of the company's stock worth $3,777,931,000 after acquiring an additional 6,265,780 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Altria Group by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 45,984,718 shares of the company's stock valued at $2,651,383,000 after acquiring an additional 729,999 shares during the last quarter. Finally, GQG Partners LLC purchased a new stake in shares of Altria Group in the second quarter valued at about $1,806,782,000. 57.41% of the stock is currently owned by institutional investors and hedge funds.

About Altria Group

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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