Altria Group (NYSE:MO) Shares Up 1.9% – Here’s What Happened

Shares of Altria Group, Inc. (NYSE:MO) traded up 1.9% on Thursday . The company traded as high as $67.73 and last traded at $67.6320. 8,785,944 shares traded hands during trading, a decline of 13% from the average session volume of 10,138,465 shares. The stock had previously closed at $66.34.

Analyst Ratings Changes

Several brokerages have recently weighed in on MO. Argus raised Altria Group to a “hold” rating in a report on Tuesday, January 13th. Stifel Nicolaus decreased their price target on shares of Altria Group from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Barclays boosted 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. UBS Group raised their price objective on shares of Altria Group from $67.00 to $74.00 and gave the stock a “buy” rating in a report on Monday, March 9th. Finally, Jefferies Financial Group upped their target price on shares of Altria Group from $47.00 to $50.00 and gave the company an “underperform” rating in a research note on Wednesday, March 4th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $65.11.

Altria Group Trading Up 0.3%

The firm has a market cap of $113.62 billion, a P/E ratio of 16.53, a price-to-earnings-growth ratio of 2.89 and a beta of 0.45. The company’s fifty day moving average price is $64.21 and its two-hundred day moving average price is $62.64.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, January 29th. The company reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.02). Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.During the same quarter in the prior year, the firm earned $1.30 EPS. Altria Group’s quarterly revenue was down .5% on a year-over-year basis. On average, analysts predict that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, March 25th will be given a $1.06 dividend. The ex-dividend date is Wednesday, March 25th. This represents a $4.24 annualized dividend and a yield of 6.2%. Altria Group’s payout ratio is presently 103.16%.

Insider Activity at Altria Group

In other news, SVP Charles N. Whitaker sold 27,908 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $67.57, for a total transaction of $1,885,743.56. Following the sale, the senior vice president owned 180,869 shares in the company, valued at approximately $12,221,318.33. This represents a 13.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On Altria Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MO. Lane Brothers & Co. Inc. bought a new position in Altria Group in the 4th quarter worth approximately $251,000. Fund Advisors of America Inc FL bought a new stake in shares of Altria Group during the fourth quarter worth $715,000. Winthrop Partners WNY LLC bought a new stake in shares of Altria Group during the fourth quarter worth $334,000. Nalls Sherbakoff Group LLC acquired a new position in shares of Altria Group during the fourth quarter valued at $48,000. Finally, Meadowbrook Advisors Group LLC bought a new position in Altria Group in the fourth quarter valued at about $241,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

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.