Altria Group, Inc. (NYSE:MO – Get Free Report)’s share price traded up 0.8% during mid-day trading on Friday . The company traded as high as $52.17 and last traded at $51.64. 2,195,717 shares traded hands during trading, a decline of 66% from the average session volume of 6,494,966 shares. The stock had previously closed at $51.21.
Analysts Set New Price Targets
A number of research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Citigroup increased their price target on shares of Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Barclays increased their price target on shares of Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. Morgan Stanley initiated coverage on shares of Altria Group in a research report on Thursday, January 16th. They issued an “equal weight” rating and a $54.00 price target on the stock. Finally, Bank of America upgraded shares of Altria Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $55.00 to $65.00 in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $53.43.
Read Our Latest Stock Analysis on Altria Group
Altria Group Stock Performance
Altria Group (NYSE:MO – Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.03. The company had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $5.33 billion. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. The business’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period last year, the business earned $1.28 EPS. Analysts forecast that Altria Group, Inc. will post 5.13 earnings per share for the current year.
Altria Group Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, December 26th were paid a dividend of $1.02 per share. The ex-dividend date was Thursday, December 26th. This represents a $4.08 annualized dividend and a dividend yield of 7.87%. Altria Group’s dividend payout ratio is currently 68.92%.
Hedge Funds Weigh In On Altria Group
Several hedge funds and other institutional investors have recently made changes to their positions in the company. American Century Companies Inc. boosted its position in Altria Group by 163.6% during the second quarter. American Century Companies Inc. now owns 50,862 shares of the company’s stock worth $2,317,000 after purchasing an additional 31,568 shares during the period. Public Sector Pension Investment Board boosted its position in Altria Group by 68.5% during the second quarter. Public Sector Pension Investment Board now owns 66,030 shares of the company’s stock worth $3,008,000 after purchasing an additional 26,853 shares during the period. Fred Alger Management LLC boosted its position in Altria Group by 9.8% during the second quarter. Fred Alger Management LLC now owns 81,800 shares of the company’s stock worth $3,726,000 after purchasing an additional 7,323 shares during the period. Armistice Capital LLC bought a new position in Altria Group during the second quarter worth $367,000. Finally, AQR Capital Management LLC boosted its position in Altria Group by 25.0% during the second quarter. AQR Capital Management LLC now owns 6,490,441 shares of the company’s stock worth $295,055,000 after purchasing an additional 1,299,703 shares during the period. 57.41% of the stock is owned by institutional investors.
Altria Group Company Profile
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.
Read More
- Five stocks we like better than Altria Group
- Airline Stocks – Top Airline Stocks to Buy Now
- Why Energy Transfer Stock Could Soar to New Highs in 2025
- How to Calculate Retirement Income: MarketBeat’s Calculator
- 3 Buy-and-Hold Stocks for Long-Term Growth
- What is an Earnings Surprise?
- Despite Short-Term Risks Freeport McMoran Worth a Look
Receive News & Ratings for Altria Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altria Group and related companies with MarketBeat.com's FREE daily email newsletter.