Altria Group (NYSE:MO) Shares Down 0.6%

Altria Group, Inc. (NYSE:MOGet Free Report)’s stock price dropped 0.6% on Monday . The company traded as low as $43.35 and last traded at $43.36. Approximately 4,823,173 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 11,646,490 shares. The stock had previously closed at $43.62.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Report on Altria Group

Altria Group Price Performance

The stock has a market capitalization of $74.28 billion, a P/E ratio of 9.31, a price-to-earnings-growth ratio of 2.60 and a beta of 0.65. The firm has a 50 day moving average of $41.64 and a 200-day moving average 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 firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same period in the previous year, the company posted $1.18 earnings per share. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. As a group, equities analysts expect that Altria Group, Inc. will post 5.08 earnings per share for the current 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 $0.98 dividend. The ex-dividend date is Friday, March 22nd. This represents a $3.92 annualized dividend and a dividend yield of 9.31%. Altria Group’s dividend payout ratio is currently 85.78%.

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

Institutional Investors Weigh In On Altria Group

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

Further Reading

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