Altria Group (NYSE:MO) Shares Down 1.6% – Here’s What Happened

Altria Group, Inc. (NYSE:MO) shares were down 1.6% during trading on Thursday . The stock traded as low as $66.16 and last traded at $67.06. Approximately 12,130,194 shares traded hands during mid-day trading, an increase of 18% from the average daily volume of 10,240,459 shares. The stock had previously closed at $68.12.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MO shares. Barclays increased their price objective on shares of Altria Group from $57.00 to $63.00 and gave the stock an “underweight” rating in a report on Monday, February 23rd. UBS Group boosted their target price on shares of Altria Group from $63.00 to $67.00 and gave the company a “buy” rating in a report on Monday, January 26th. Stifel Nicolaus cut 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. Argus upgraded shares of Altria Group to a “hold” rating in a report on Tuesday, January 13th. Finally, Citigroup boosted their price objective on shares of Altria Group from $57.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Altria Group has an average rating of “Hold” and a consensus price target of $64.33.

Altria Group Price Performance

The firm’s 50-day moving average price is $63.25 and its 200-day moving average price is $62.64. The company has a market cap of $111.15 billion, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 2.86 and a beta of 0.45.

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

Altria Group Announces Dividend

The business 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 of this dividend is Wednesday, March 25th. This represents a $4.24 annualized dividend and a yield of 6.4%. Altria Group’s dividend payout ratio (DPR) is 103.16%.

Institutional Investors Weigh In On Altria Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Union Savings Bank purchased a new position in shares of Altria Group in the fourth quarter valued at $210,000. Hsbc Holdings PLC increased its stake in Altria Group by 10.1% during the 4th quarter. Hsbc Holdings PLC now owns 4,635,607 shares of the company’s stock worth $267,340,000 after buying an additional 424,611 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in Altria Group during the 4th quarter worth $64,000. Storen Legacy Partners LLC acquired a new position in Altria Group in the 4th quarter worth $724,000. Finally, AG Campbell Advisory LLC purchased a new position in Altria Group in the 4th quarter valued at about $105,000. Hedge funds and other institutional investors 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.