Altria Group (NYSE:MO) Trading 0.8% Higher

Shares of Altria Group, Inc. (NYSE:MO) rose 0.8% during mid-day trading on Wednesday . The stock traded as high as $44.28 and last traded at $44.22. Approximately 2,338,432 shares were traded during trading, a decline of 80% from the average daily volume of 11,736,271 shares. The stock had previously closed at $43.85.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on MO shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $50.00 price objective on shares of Altria Group in a research report on Monday, March 25th. StockNews.com lowered Altria Group from a “buy” rating to a “hold” rating in a research report on Sunday, April 14th. Finally, UBS Group boosted their price objective on Altria Group from $36.10 to $36.50 and gave the company a “sell” rating in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $46.90.

Altria Group Price Performance

The company’s 50 day simple moving average is $42.62 and its 200 day simple moving average is $41.50. The company has a market capitalization of $76.07 billion, a PE ratio of 9.25, a price-to-earnings-growth ratio of 2.66 and a beta of 0.66.

Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.15. Altria Group had a net margin of 34.81% and a negative return on equity of 222.80%. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.71 billion. During the same quarter in the prior year, the firm posted $1.18 earnings per share. Altria Group’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, equities analysts forecast that Altria Group, Inc. will post 5.11 EPS for the current year.

Altria Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, March 25th were paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 8.85%. The ex-dividend date was Friday, March 22nd. Altria Group’s dividend payout ratio is currently 82.01%.

Altria Group announced that its Board of Directors has authorized a stock repurchase program on Thursday, February 1st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to buy up to 1.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Altria Group news, VP Charles N. Whitaker sold 22,487 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $43.95, for a total transaction of $988,303.65. Following the completion of the sale, the vice president now directly owns 173,485 shares of the company’s stock, valued at approximately $7,624,665.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Altria Group

A number of institutional investors have recently added to or reduced their stakes in the business. Maryland Capital Advisors Inc. lifted its stake in shares of Altria Group by 154.4% in the first quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock valued at $25,000 after purchasing an additional 349 shares during the period. Altshuler Shaham Ltd purchased a new stake in shares of Altria Group during the 3rd quarter worth approximately $26,000. Accordant Advisory Group Inc purchased a new stake in shares of Altria Group during the 1st quarter worth approximately $26,000. Nemes Rush Group LLC grew its holdings in shares of Altria Group by 103.2% in the 3rd quarter. Nemes Rush Group LLC now owns 636 shares of the company’s stock worth $27,000 after acquiring an additional 323 shares during the period. Finally, Criterion Capital Advisors LLC purchased a new position in Altria Group in the 4th quarter valued at approximately $27,000. Hedge funds and other 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.