Altria Group (NYSE:MO) Trading Up 1.9% – Here’s What Happened

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MO shares. Citigroup upped their target price on Altria Group from $57.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, February 9th. Argus raised Altria Group to a “hold” rating in a report on Tuesday, January 13th. UBS Group raised their price objective on Altria Group from $63.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Finally, Stifel Nicolaus lowered their target price on Altria Group from $72.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Altria Group has an average rating of “Hold” and an average target price of $63.67.

Altria Group Trading Up 1.9%

The company has a market capitalization of $114.17 billion, a P/E ratio of 16.55, a PEG ratio of 3.67 and a beta of 0.47. The stock has a 50 day moving average price of $60.93 and a 200 day moving average price of $62.30.

Altria Group (NYSE:MO) last issued its earnings results 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). The firm had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.02 billion. Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.Altria Group’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the company earned $1.30 EPS. On average, research analysts predict that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 26th were given a dividend of $1.06 per share. The ex-dividend date was Friday, December 26th. This represents a $4.24 annualized dividend and a yield of 6.2%. Altria Group’s dividend payout ratio (DPR) is currently 103.16%.

Altria Group announced that its board has approved a stock repurchase program on Thursday, October 30th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 1.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Altria Group

Several large investors have recently modified their holdings of the business. Ameriprise Financial Inc. raised its position in Altria Group by 62.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 16,395,070 shares of the company’s stock worth $954,446,000 after purchasing an additional 6,302,819 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Altria Group by 10.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 65,516,916 shares of the company’s stock valued at $3,777,931,000 after buying an additional 6,265,780 shares during the period. Marshall Wace LLP raised its position in shares of Altria Group by 286.7% during the third quarter. Marshall Wace LLP now owns 4,479,699 shares of the company’s stock worth $295,929,000 after acquiring an additional 3,321,262 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Altria Group by 438.6% in the fourth quarter. SG Americas Securities LLC now owns 3,637,678 shares of the company’s stock worth $209,749,000 after acquiring an additional 2,962,270 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Altria Group by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 160,980,626 shares of the company’s stock worth $9,282,143,000 after acquiring an additional 1,903,530 shares during the period. Institutional investors own 57.41% of the company’s stock.

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.