Altria Group (NYSE:MO) Shares Down 1.1% – Here’s Why

Altria Group, Inc. (NYSE:MO)’s stock price fell 1.1% during trading on Tuesday . The company traded as low as $66.25 and last traded at $66.54. 7,772,247 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 11,078,213 shares. The stock had previously closed at $67.25.

Analysts Set New Price Targets

Several research firms recently commented on MO. UBS Group lifted their price target on Altria Group from $63.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Stifel Nicolaus lowered their price objective on Altria Group from $72.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Citigroup boosted their target price on Altria Group from $57.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Finally, Argus upgraded Altria Group to a “hold” rating in a report on Tuesday, January 13th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $63.67.

Altria Group Trading Down 1.1%

The company has a 50-day simple moving average of $60.60 and a 200 day simple moving average of $62.24. The company has a market cap of $111.70 billion, a P/E ratio of 12.41, a P/E/G ratio of 3.71 and a beta of 0.47.

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

Altria Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 26th were given a dividend of $1.06 per share. The ex-dividend date of this dividend was Friday, December 26th. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.4%. Altria Group’s dividend payout ratio (DPR) is 103.16%.

Altria Group announced that its board has authorized a stock buyback plan on Thursday, October 30th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to buy up to 1.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. CWA Asset Management Group LLC grew its position in shares of Altria Group by 8.6% during the 3rd quarter. CWA Asset Management Group LLC now owns 335,418 shares of the company’s stock valued at $22,158,000 after acquiring an additional 26,624 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in Altria Group by 1.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,522,209 shares of the company’s stock worth $232,677,000 after purchasing an additional 44,303 shares during the period. Vanguard Group Inc. boosted its position in Altria Group by 1.0% during the second quarter. Vanguard Group Inc. now owns 159,717,148 shares of the company’s stock worth $9,364,216,000 after purchasing an additional 1,599,923 shares in the last quarter. Silver Oak Securities Incorporated grew its holdings in Altria Group by 155.4% in the third quarter. Silver Oak Securities Incorporated now owns 31,220 shares of the company’s stock valued at $2,062,000 after purchasing an additional 18,997 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in Altria Group by 31.5% in the second quarter. Fisher Asset Management LLC now owns 97,389 shares of the company’s stock valued at $5,710,000 after purchasing an additional 23,331 shares during the period. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Altria Group Company Profile

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.