Altria Group (NYSE:MO) Trading Up 0.9%

Altria Group, Inc. (NYSE:MO)’s share price was up 0.9% during trading on Thursday . The stock traded as high as $44.71 and last traded at $44.67. Approximately 1,757,895 shares were traded during trading, a decline of 85% from the average daily volume of 11,713,543 shares. The stock had previously closed at $44.29.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Stifel Nicolaus restated a “buy” rating and issued a $50.00 price target on shares of Altria Group in a report on Monday, March 25th. UBS Group boosted their price objective on Altria Group from $36.10 to $36.50 and gave the company a “sell” rating in a report on Monday, April 8th. Finally, StockNews.com cut shares of Altria Group from a “buy” rating to a “hold” rating in a report on Sunday, April 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Altria Group currently has an average rating of “Hold” and a consensus target price of $46.90.

Altria Group Price Performance

The stock has a market capitalization of $76.80 billion, a P/E ratio of 9.35, a price-to-earnings-growth ratio of 2.66 and a beta of 0.66. The stock has a fifty day moving average price of $42.69 and a 200 day moving average price of $41.52.

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

Altria Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, March 25th were issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 8.77%. The ex-dividend date of this dividend was Friday, March 22nd. Altria Group’s dividend payout ratio (DPR) is presently 82.01%.

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

Insider Buying and Selling at Altria Group

In related news, VP Charles N. Whitaker sold 22,487 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $43.95, for a total value of $988,303.65. Following the completion of the sale, the vice president now owns 173,485 shares of the company’s stock, valued at $7,624,665.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Altria Group

Institutional investors have recently modified their holdings of the business. Hazlett Burt & Watson Inc. grew its stake in shares of Altria Group by 12.1% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,150 shares of the company’s stock valued at $95,000 after acquiring an additional 232 shares during the period. Taylor & Morgan Wealth Management LLC raised its position 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 buying an additional 246 shares during the last quarter. Janiczek Wealth Management LLC lifted its holdings in shares of Altria Group by 7.0% in the first quarter. Janiczek Wealth Management LLC now owns 3,767 shares of the company’s stock worth $168,000 after buying an additional 247 shares in the last quarter. Whitener Capital Management Inc. boosted its position in shares of Altria Group by 2.6% during the third quarter. Whitener Capital Management Inc. now owns 9,797 shares of the company’s stock worth $412,000 after acquiring an additional 250 shares during the last quarter. Finally, Salvus Wealth Management LLC lifted its stake in Altria Group by 1.8% in the 4th quarter. Salvus Wealth Management LLC now owns 14,326 shares of the company’s stock worth $578,000 after purchasing an additional 250 shares in the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Company Profile

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.