Altria Group, Inc. (NYSE:MO) Short Interest Down 15.1% in June

Altria Group, Inc. (NYSE:MO) saw a significant drop in short interest during the month of June. As of June 30th, there was short interest totalling 26,470,000 shares, a drop of 15.1% from the June 15th total of 31,190,000 shares. Based on an average daily trading volume, of 10,140,000 shares, the short-interest ratio is presently 2.6 days. Approximately 1.5% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MO. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a research report on Friday, June 28th. Bank of America boosted their price objective on Altria Group from $47.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Argus raised Altria Group to a “hold” rating in a report on Friday, May 31st. UBS Group increased their target price on Altria Group from $36.10 to $36.50 and gave the stock a “sell” rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $50.00 price target on shares of Altria Group in a report on Monday, March 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, Altria Group currently has an average rating of “Hold” and an average price target of $47.10.

Altria Group Trading Up 0.6 %

Shares of NYSE:MO traded up $0.31 during mid-day trading on Tuesday, reaching $48.03. The stock had a trading volume of 6,177,009 shares, compared to its average volume of 10,910,088. The business’s 50 day moving average price is $45.96 and its 200 day moving average price is $43.24. Altria Group has a 1 year low of $39.06 and a 1 year high of $48.18. The company has a market cap of $82.50 billion, a P/E ratio of 10.05, a price-to-earnings-growth ratio of 2.93 and a beta of 0.66.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, April 25th. The company reported $1.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.15. The business had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.71 billion. Altria Group had a negative return on equity of 222.80% and a net margin of 34.81%. During the same period in the prior year, the firm earned $1.18 EPS. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. Analysts predict that Altria Group will post 5.11 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Friday, June 14th were paid a $0.98 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 8.16%. Altria Group’s payout ratio is currently 82.01%.

Insider Activity at Altria Group

In other news, VP Charles N. Whitaker sold 22,487 shares of Altria Group stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $43.95, for a total value of $988,303.65. Following the completion of the sale, the vice president now directly owns 173,485 shares in the company, valued at $7,624,665.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is currently owned by insiders.

Institutional Trading of Altria Group

Large investors have recently made changes to their positions in the business. Patten & Patten Inc. TN raised its holdings in Altria Group by 1.6% in the 1st quarter. Patten & Patten Inc. TN now owns 14,293 shares of the company’s stock valued at $623,000 after buying an additional 224 shares during the period. Hilltop National Bank raised its stake in shares of Altria Group by 1.6% in the 2nd quarter. Hilltop National Bank now owns 14,667 shares of the company’s stock valued at $668,000 after acquiring an additional 226 shares during the period. Hazlett Burt & Watson Inc. lifted its holdings in shares of Altria Group by 12.1% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,150 shares of the company’s stock worth $95,000 after acquiring an additional 232 shares during the last quarter. Taylor & Morgan Wealth Management LLC lifted its holdings in shares of Altria Group by 2.1% in the 4th quarter. Taylor & Morgan Wealth Management LLC now owns 11,981 shares of the company’s stock worth $483,000 after acquiring an additional 246 shares during the last quarter. Finally, Janiczek Wealth Management LLC boosted its position in shares of Altria Group by 7.0% during the 1st quarter. Janiczek Wealth Management LLC now owns 3,767 shares of the company’s stock worth $168,000 after purchasing an additional 247 shares during the period. 57.41% of the stock is currently owned by institutional investors.

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.