Altria Group (NYSE:MO) Stock Price Down 0.9%

Altria Group, Inc. (NYSE:MOGet Free Report)’s stock price dropped 0.9% during trading on Wednesday . The company traded as low as $42.14 and last traded at $42.54. Approximately 3,459,584 shares changed hands during trading, a decline of 70% from the average daily volume of 11,649,472 shares. The stock had previously closed at $42.93.

Wall Street Analysts Forecast Growth

MO has been the topic of a number of research analyst reports. UBS Group reaffirmed a “sell” rating and set a $36.10 target price on shares of Altria Group in a report on Tuesday, January 23rd. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research report on Wednesday, March 27th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $50.00 target price on shares of Altria Group in a research report on Monday, March 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $46.82.

Check Out Our Latest Stock Analysis on MO

Altria Group Trading Down 1.8 %

The company has a market capitalization of $74.35 billion, a price-to-earnings ratio of 9.31, a PEG ratio of 2.60 and a beta of 0.65. The firm has a 50-day moving average price of $41.64 and a 200-day moving average price of $41.50.

Altria Group (NYSE:MOGet Free Report) last issued its quarterly earnings results on Thursday, February 1st. The company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.01. Altria Group had a negative return on equity of 244.55% and a net margin of 33.21%. The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.06 billion. During the same period last year, the firm earned $1.18 EPS. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. Equities research analysts predict that Altria Group, Inc. will post 5.08 EPS for the current fiscal year.

Altria Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, March 25th will be paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 9.30%. The ex-dividend date is Friday, March 22nd. Altria Group’s dividend payout ratio is presently 85.78%.

Altria Group announced that its board has authorized a stock repurchase program on Thursday, February 1st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 1.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Altria Group

Several large investors have recently modified their holdings of MO. Empirical Finance LLC lifted its holdings in Altria Group by 1.1% in the fourth quarter. Empirical Finance LLC now owns 21,586 shares of the company’s stock valued at $987,000 after buying an additional 225 shares during the period. Corrigan Financial Inc. raised its holdings in shares of Altria Group by 4.7% during the second quarter. Corrigan Financial Inc. now owns 5,294 shares of the company’s stock valued at $240,000 after purchasing an additional 236 shares during the period. Perennial Investment Advisors LLC raised its holdings in shares of Altria Group by 5.0% during the second quarter. Perennial Investment Advisors LLC now owns 5,055 shares of the company’s stock valued at $229,000 after purchasing an additional 239 shares during the period. Clear Creek Financial Management LLC raised its holdings in shares of Altria Group by 4.3% during the third quarter. Clear Creek Financial Management LLC now owns 5,825 shares of the company’s stock valued at $246,000 after purchasing an additional 240 shares during the period. Finally, Taylor & Morgan Wealth Management LLC raised its holdings in shares of Altria Group by 2.1% during the fourth quarter. Taylor & Morgan Wealth Management LLC now owns 11,981 shares of the company’s stock valued at $483,000 after purchasing an additional 246 shares during the period. 57.41% of the stock is owned by institutional investors.

Altria Group Company Profile

(Get Free Report)

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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