Altria Group (NYSE:MO) Shares Up 1.2%

Altria Group, Inc. (NYSE:MO) shares were up 1.2% during mid-day trading on Friday . The stock traded as high as $41.83 and last traded at $41.78. Approximately 1,768,230 shares were traded during trading, a decline of 85% from the average daily volume of 11,593,800 shares. The stock had previously closed at $41.30.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on MO shares. StockNews.com cut shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Sunday, April 14th. UBS Group increased their price objective on shares of Altria Group from $36.10 to $36.50 and gave the stock a “sell” rating in a research note on Monday, April 8th. Finally, 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. One research 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 data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $46.90.

Altria Group Trading Up 1.5 %

The company’s 50 day moving average price is $41.87 and its two-hundred day moving average price is $41.42. The stock has a market cap of $72.00 billion, a P/E ratio of 9.14, a PEG ratio of 2.47 and a beta of 0.65.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, February 1st. The company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.01. The firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.06 billion. Altria Group had a net margin of 33.21% and a negative return on equity of 244.55%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.18 EPS. On average, sell-side analysts anticipate that Altria Group, Inc. will post 5.09 earnings per share for the current year.

Altria Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, March 25th will be issued a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 9.35%. The ex-dividend date is Friday, March 22nd. Altria Group’s dividend payout ratio is 85.78%.

Altria Group announced that its board has initiated a stock buyback program on Thursday, February 1st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Altria Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Maryland Capital Advisors Inc. grew its holdings in Altria Group by 154.4% during the 1st quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock valued at $25,000 after buying an additional 349 shares in the last quarter. Loomis Sayles & Co. L P purchased a new stake in Altria Group during the 1st quarter valued at approximately $25,000. Altshuler Shaham Ltd purchased a new stake in Altria Group during the 3rd quarter valued at approximately $26,000. Nemes Rush Group LLC grew its holdings in Altria Group by 103.2% during the 3rd quarter. Nemes Rush Group LLC now owns 636 shares of the company’s stock valued at $27,000 after buying an additional 323 shares in the last quarter. Finally, Criterion Capital Advisors LLC purchased a new position in shares of Altria Group in the fourth quarter valued at $27,000. 57.41% of the stock is owned by hedge funds and other institutional investors.

About Altria Group

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.