Altria Group (NYSE:MO) Trading Up 1.9% – Time to Buy?

Altria Group, Inc. (NYSE:MO) rose 1.9% during trading on Thursday . The stock traded as high as $68.15 and last traded at $68.0120. Approximately 7,827,119 shares changed hands during trading, a decline of 28% from the average daily volume of 10,861,243 shares. The stock had previously closed at $66.77.

Analysts Set New Price Targets

MO has been the subject of several research reports. Stifel Nicolaus reduced their price target on shares of Altria Group from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, January 30th. UBS Group lifted their price objective 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. Citigroup boosted their target price on shares of Altria Group from $57.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Finally, Argus raised shares of Altria Group to a “hold” rating in a research report on Tuesday, January 13th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $63.67.

Altria Group Stock Down 0.7%

The stock has a 50-day moving average of $61.29 and a 200 day moving average of $62.38. The company has a market capitalization of $113.30 billion, a PE ratio of 16.42, a P/E/G ratio of 2.70 and a beta of 0.47.

Altria Group (NYSE:MO) last announced its quarterly earnings data 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). Altria Group had a net margin of 29.84% and a negative return on equity of 287.61%. The business had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $5.02 billion. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $1.30 EPS. Equities analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 26th were issued a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date was Friday, December 26th. Altria Group’s dividend payout ratio (DPR) is 103.16%.

Altria Group announced that its Board of Directors has initiated a stock buyback program 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 stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Altria Group

Large investors have recently bought and sold shares of the company. Johnson & White Wealth Management LLC increased its holdings in Altria Group by 1.2% in the 4th quarter. Johnson & White Wealth Management LLC now owns 12,704 shares of the company’s stock worth $733,000 after acquiring an additional 154 shares during the last quarter. Kercheville Advisors LLC boosted its position in Altria Group by 3.7% during the third quarter. Kercheville Advisors LLC now owns 4,397 shares of the company’s stock worth $290,000 after purchasing an additional 156 shares during the period. Kanawha Capital Management LLC increased its stake in shares of Altria Group by 0.8% in the fourth quarter. Kanawha Capital Management LLC now owns 19,546 shares of the company’s stock worth $1,127,000 after purchasing an additional 160 shares in the last quarter. Strategic Advisors LLC increased its stake in shares of Altria Group by 2.0% in the fourth quarter. Strategic Advisors LLC now owns 8,243 shares of the company’s stock worth $475,000 after purchasing an additional 160 shares in the last quarter. Finally, Acorn Wealth Advisors LLC raised its position in shares of Altria Group by 1.6% in the fourth quarter. Acorn Wealth Advisors LLC now owns 10,117 shares of the company’s stock valued at $583,000 after purchasing an additional 163 shares during the period. 57.41% of the stock is owned by hedge funds and other institutional investors.

About Altria Group

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.