Altria Group (NYSE:MO) Trading Up 0.6% – Should You Buy?

Altria Group, Inc. (NYSE:MO) shares shot up 0.6% during mid-day trading on Thursday . The company traded as high as $51.20 and last traded at $51.14. 1,133,520 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 6,422,816 shares. The stock had previously closed at $50.81.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Barclays lifted their price target on shares of Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a research note 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 objective on the stock. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Stifel Nicolaus increased their price target on Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued 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 target price of $53.43.

Altria Group Stock Up 1.6 %

The stock has a market cap of $88.17 billion, a P/E ratio of 8.79, a P/E/G ratio of 2.67 and a beta of 0.64. The company’s 50 day moving average price is $53.94 and its two-hundred day moving average price is $52.14.

Altria Group (NYSE:MO) last issued its earnings results on Thursday, October 31st. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.03. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. The business had revenue of $6.26 billion during the quarter, compared to analyst estimates of $5.33 billion. During the same period in the previous year, the company posted $1.28 EPS. Altria Group’s revenue was up 18.6% on a year-over-year basis. As a group, equities research 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 announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 26th were issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 7.84%. The ex-dividend date of this dividend was Thursday, December 26th. Altria Group’s payout ratio is 68.92%.

Institutional Investors Weigh In On Altria Group

Several large investors have recently modified their holdings of the business. Financial Life Planners purchased a new stake in shares of Altria Group during the 4th quarter worth $25,000. True Wealth Design LLC raised its holdings in Altria Group by 420.0% in the third quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after purchasing an additional 462 shares in the last quarter. Legacy Investment Solutions LLC purchased a new stake in shares of Altria Group during the third quarter valued at about $34,000. Peterson Financial Group Inc. bought a new stake in shares of Altria Group in the 3rd quarter valued at about $41,000. Finally, Fairman Group LLC grew its position in shares of Altria Group by 85.1% in the 3rd quarter. Fairman Group LLC now owns 892 shares of the company’s stock worth $46,000 after buying an additional 410 shares during the last quarter. Institutional investors own 57.41% of the company’s stock.

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.