Altria Group (NYSE:MO) Trading 0.8% Higher

Altria Group, Inc. (NYSE:MO)’s stock price was up 0.8% during mid-day trading on Wednesday . The stock traded as high as $44.28 and last traded at $44.22. Approximately 2,338,432 shares changed hands during trading, a decline of 80% from the average daily volume of 11,736,271 shares. The stock had previously closed at $43.85.

Wall Street Analyst Weigh In

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

Altria Group Stock Up 1.0 %

The company has a market capitalization of $76.07 billion, a price-to-earnings ratio of 9.25, a P/E/G ratio of 2.66 and a beta of 0.66. The business has a fifty day simple moving average of $42.62 and a two-hundred day simple moving average of $41.50.

Altria Group (NYSE:MO) last posted its earnings results on Thursday, April 25th. The company reported $1.15 earnings per share for the quarter, hitting the consensus estimate of $1.15. Altria Group had a net margin of 34.81% and a negative return on equity of 222.80%. The business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.71 billion. During the same quarter in the prior year, the firm earned $1.18 EPS. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. As a group, equities analysts predict that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, March 25th were issued a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 8.85%. The ex-dividend date was Friday, March 22nd. Altria Group’s payout ratio is currently 82.01%.

Altria Group declared that its Board of Directors has initiated a stock buyback plan on Thursday, February 1st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 1.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other Altria Group news, VP Charles N. Whitaker sold 22,487 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $43.95, for a total transaction of $988,303.65. Following the sale, the vice president now owns 173,485 shares of the company’s stock, valued at approximately $7,624,665.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MO. FSC Wealth Advisors LLC lifted its stake in shares of Altria Group by 21.3% in the 4th quarter. FSC Wealth Advisors LLC now owns 2,719 shares of the company’s stock valued at $110,000 after purchasing an additional 477 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in shares of Altria Group in the 4th quarter valued at approximately $39,000. KPP Advisory Services LLC bought a new position in Altria Group during the 3rd quarter worth approximately $3,128,000. Axxcess Wealth Management LLC grew its holdings in Altria Group by 293.6% during the third quarter. Axxcess Wealth Management LLC now owns 55,546 shares of the company’s stock valued at $2,336,000 after purchasing an additional 41,432 shares during the period. Finally, Nordea Investment Management AB increased its stake in Altria Group by 0.5% in the fourth quarter. Nordea Investment Management AB now owns 1,011,345 shares of the company’s stock valued at $40,727,000 after purchasing an additional 4,789 shares in the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

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.