Altria Group (NYSE:MO) Stock Price Up 2.8% – Still a Buy?

Altria Group, Inc. (NYSE:MO)’s share price rose 2.8% on Friday . The company traded as high as $66.74 and last traded at $66.4580. Approximately 10,171,918 shares changed hands during trading, a decline of 2% from the average daily volume of 10,368,804 shares. The stock had previously closed at $64.62.

Analyst Upgrades and Downgrades

Several research analysts have commented on MO shares. Barclays raised their price target on shares of Altria Group from $57.00 to $63.00 and gave the company an “underweight” rating in a report on Monday, February 23rd. Citigroup increased their price objective on Altria Group from $57.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Argus raised Altria Group to a “hold” rating in a research note on Tuesday, January 13th. Jefferies Financial Group boosted their target price on Altria Group from $47.00 to $50.00 and gave the stock an “underperform” rating in a research report on Wednesday, March 4th. Finally, UBS Group upped their target price on Altria Group from $67.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $65.11.

Altria Group Trading Up 2.8%

The company has a market capitalization of $111.11 billion, a P/E ratio of 16.17, a P/E/G ratio of 2.72 and a beta of 0.45. The business’s fifty day moving average price is $65.51 and its 200-day moving average price is $62.54.

Altria Group (NYSE:MO) last released its earnings results on Thursday, January 29th. The company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.02). Altria Group had a net margin of 29.84% and a negative return on equity of 287.61%. The firm had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $5.02 billion. During the same period in the prior year, the company earned $1.30 EPS. The firm’s revenue was down .5% compared to the same quarter last year. As a group, equities research analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, March 25th will be issued a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date of this dividend is Wednesday, March 25th. Altria Group’s dividend payout ratio (DPR) is currently 103.16%.

Insiders Place Their Bets

In other Altria Group news, SVP Charles N. Whitaker sold 27,908 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $67.57, for a total value of $1,885,743.56. Following the completion of the sale, the senior vice president owned 180,869 shares of the company’s stock, valued at $12,221,318.33. This represents a 13.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.08% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MO. Darwin Wealth Management LLC bought a new position in shares of Altria Group during the 2nd quarter valued at $27,000. Navalign LLC purchased a new stake in Altria Group during the fourth quarter valued at about $28,000. Country Trust Bank boosted its position in Altria Group by 400.0% during the second quarter. Country Trust Bank now owns 500 shares of the company’s stock valued at $29,000 after buying an additional 400 shares during the period. Creative Capital Management Investments LLC bought a new position in shares of Altria Group during the fourth quarter valued at about $29,000. Finally, Hughes Financial Services LLC grew its stake in shares of Altria Group by 62.9% during the fourth quarter. Hughes Financial Services LLC now owns 510 shares of the company’s stock valued at $29,000 after buying an additional 197 shares during the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

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.