Altria Group (NYSE:MO) Shares Up 0.2% – Time to Buy?

Shares of Altria Group, Inc. (NYSE:MO) shot up 0.2% during mid-day trading on Wednesday . The company traded as high as $52.92 and last traded at $52.72. 927,688 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 7,594,847 shares. The stock had previously closed at $52.62.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MO. Stifel Nicolaus increased their price target on Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Bank of America raised Altria Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $55.00 to $65.00 in a research report on Friday, December 6th. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft raised their target price on Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Barclays raised their target price on Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Altria Group presently has an average rating of “Hold” and a consensus price target of $53.29.

Altria Group Trading Up 0.0 %

The firm has a 50 day simple moving average of $53.19 and a two-hundred day simple moving average of $52.42. The company has a market capitalization of $89.24 billion, a PE ratio of 8.04, a P/E/G ratio of 2.78 and a beta of 0.64.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. Research analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 26th were given a dividend of $1.02 per share. The ex-dividend date was Thursday, December 26th. This represents a $4.08 dividend on an annualized basis and a yield of 7.75%. Altria Group’s payout ratio is 62.29%.

Hedge Funds Weigh In On Altria Group

A number of institutional investors have recently made changes to their positions in the stock. Financial Life Planners acquired a new position in Altria Group in the fourth quarter valued at $25,000. True Wealth Design LLC increased its stake in Altria Group by 420.0% in the third quarter. True Wealth Design LLC now owns 572 shares of the company’s stock valued at $29,000 after purchasing an additional 462 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in Altria Group in the third quarter valued at $34,000. Marshall Investment Management LLC acquired a new position in Altria Group in the fourth quarter valued at $32,000. Finally, Promus Capital LLC acquired a new position in Altria Group in the fourth quarter valued at $33,000. 57.41% of the stock is owned by institutional investors and hedge funds.

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.