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

Altria Group, Inc. (NYSE:MO) fell 1.6% during mid-day trading on Tuesday . The company traded as low as $65.80 and last traded at $65.9520. 10,596,116 shares were traded during trading, an increase of 3% from the average session volume of 10,335,014 shares. The stock had previously closed at $67.02.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MO shares. Argus upgraded shares of Altria Group to a “hold” rating in a report on Tuesday, January 13th. Citigroup boosted their price objective on Altria Group from $57.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Barclays increased their price objective on Altria Group from $57.00 to $63.00 and gave the stock an “underweight” rating in a research note on Monday, February 23rd. UBS Group raised their target price on Altria Group from $67.00 to $74.00 and gave the company a “buy” rating in a report on Monday, March 9th. Finally, Stifel Nicolaus cut their target price on Altria Group from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $65.75.

Altria Group Stock Up 0.4%

The firm has a market cap of $109.94 billion, a PE ratio of 16.00, a PEG ratio of 2.82 and a beta of 0.41. The company has a 50-day simple moving average of $65.89 and a two-hundred day simple moving average of $62.51.

Altria Group (NYSE:MO) last released 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). The business had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $5.02 billion. Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.30 earnings per share. As a group, equities analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, March 25th will be paid a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date is Wednesday, March 25th. Altria Group’s payout ratio is presently 103.16%.

Insider Activity at Altria Group

In related news, SVP Charles N. Whitaker sold 27,908 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $67.57, for a total value of $1,885,743.56. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.08% of the company’s stock.

Institutional Trading of Altria Group

Hedge funds have recently made changes to their positions in the company. Darwin Wealth Management LLC bought a new stake in Altria Group in the 2nd quarter valued at about $27,000. Navalign LLC bought a new position in Altria Group during the fourth quarter worth about $28,000. EMC Capital Management purchased a new position in shares of Altria Group in the third quarter worth about $33,000. Creative Capital Management Investments LLC bought a new stake in Altria Group during the 4th quarter valued at $29,000. Finally, Miller Capital Partners Inc. purchased a new position in shares of Altria Group in the fourth quarter valued at $29,000. 57.41% of the stock is currently owned by 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.