Traders Purchase High Volume of Call Options on Altria Group (NYSE:MO)

Key Points

• On Monday, traders purchased a notably high volume of 59,183 call options for Altria Group, marking an increase of approximately 112% from the typical trading volume.
• Altria recently reported an EPS of $1.44 for its last quarter, exceeding analysts' expectations of $1.37, with revenue reaching $5.29 billion.
• The stock has garnered mixed ratings from analysts, with a current average rating of "Hold" and a consensus price target of $59.13.

Altria Group, Inc. (NYSE:MO - Get Free Report) was the target of some unusual options trading on Monday. Stock traders purchased 59,183 call options on the company. Thisrepresentsanincreaseofapproximately112% compared to the typical volume of 27,920 call options.

Analyst Ratings Changes

A number of research firms have issued reports on MO. Needham & Company LLC upgraded Altria Group to a "hold" rating in a research note on Thursday, May 22nd. Wall Street Zen cut shares of Altria Group from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Stifel Nicolaus boosted their target price on Altria Group from $63.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Jefferies Financial Group began coverage on Altria Group in a research report on Wednesday, July 9th. They set an "underperform" rating and a $50.00 price target for the company. Finally, Morgan Stanley lifted their price target on Altria Group from $57.00 to $62.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $59.13.

Altria Group Trading Up 0.3%

Shares of NYSE:MO traded up $0.18 during mid-day trading on Monday, reaching $66.00. The company had a trading volume of 7,369,802 shares, compared to its average volume of 9,176,256. The firm has a market cap of $110.87 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 3.54 and a beta of 0.59. The company's 50-day moving average price is $60.31 and its 200-day moving average price is $58.34. Altria Group has a one year low of $48.86 and a one year high of $66.60.

Altria Group (NYSE:MO - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.44 EPS for the quarter, topping analysts' consensus estimates of $1.37 by $0.07. The company had revenue of $5.29 billion for the quarter, compared to analysts' expectations of $5.21 billion. Altria Group had a net margin of 37.24% and a negative return on equity of 295.26%. Altria Group's revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.31 EPS. On average, research analysts anticipate that Altria Group will post 5.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Mattson Financial Services LLC bought a new position in Altria Group in the 1st quarter valued at $25,000. Global X Japan Co. Ltd. bought a new position in Altria Group in the 2nd quarter valued at $25,000. Carderock Capital Management Inc. bought a new position in Altria Group in the 2nd quarter valued at $26,000. Darwin Wealth Management LLC bought a new position in Altria Group in the 2nd quarter valued at $27,000. Finally, Country Trust Bank lifted its holdings in shares of Altria Group by 400.0% during the 2nd quarter. Country Trust Bank now owns 500 shares of the company's stock worth $29,000 after acquiring an additional 400 shares during the last quarter. 57.41% of the stock is currently 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.

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