Altria Group (NYSE:MO) Stock Price Up 0.8% – Time to Buy?

Altria Group, Inc. (NYSE:MO)’s share price was up 0.8% during mid-day trading on Thursday . The stock traded as high as $58.48 and last traded at $58.20. Approximately 1,632,056 shares changed hands during trading, a decline of 81% from the average daily volume of 8,468,527 shares. The stock had previously closed at $57.75.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MO. Bank of America upgraded shares of Altria Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $55.00 to $65.00 in a research report on Friday, December 6th. Morgan Stanley lowered their price target on Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Altria Group presently has an average rating of “Hold” and an average target price of $53.29.

Altria Group Trading Up 0.6 %

The company has a market cap of $98.21 billion, a P/E ratio of 8.87, a price-to-earnings-growth ratio of 2.89 and a beta of 0.56. The company’s fifty day moving average is $54.80 and its 200 day moving average is $53.54.

Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, January 30th. The company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.28 by $0.01. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. Analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th will be paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.02%. The ex-dividend date is Tuesday, March 25th. Altria Group’s dividend payout ratio (DPR) is presently 62.29%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Financial Life Planners bought a new stake in Altria Group in the 4th quarter worth $25,000. Redwood Park Advisors LLC purchased a new stake in Altria Group in the 4th quarter worth approximately $26,000. True Wealth Design LLC grew its position in shares of Altria Group by 420.0% in the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after buying an additional 462 shares during the last quarter. VSM Wealth Advisory LLC purchased a new position in shares of Altria Group during the fourth quarter valued at approximately $29,000. Finally, Marshall Investment Management LLC bought a new position in shares of Altria Group during the fourth quarter valued at approximately $32,000. 57.41% of the stock is owned by hedge funds and other 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.