Altria Group (NYSE:MO) Reaches New 52-Week High – Here’s What Happened

Altria Group, Inc. (NYSE:MO)’s share price reached a new 52-week high on Monday . The stock traded as high as $59.78 and last traded at $59.42, with a volume of 2069690 shares changing hands. The stock had previously closed at $58.15.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Deutsche Bank Aktiengesellschaft cut Altria Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Bank of America raised Altria Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $55.00 to $65.00 in a research note on Friday, December 6th. UBS Group lifted their target price on Altria Group from $42.00 to $46.00 and gave the company a “sell” rating in a research report on Tuesday. Finally, Morgan Stanley reduced their price target on shares of 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 investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Altria Group has an average rating of “Hold” and a consensus price target of $54.00.

Altria Group Trading Down 1.8 %

The firm’s fifty day simple moving average is $55.38 and its 200 day simple moving average is $53.69. The company has a market cap of $99.68 billion, a price-to-earnings ratio of 9.00, a PEG ratio of 2.89 and a beta of 0.56.

Altria Group (NYSE:MO) last posted its earnings results on Thursday, January 30th. The company reported $1.29 EPS for the quarter, beating 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%. As a group, sell-side analysts expect that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th will be issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 6.92%. The ex-dividend date is Tuesday, March 25th. Altria Group’s dividend payout ratio (DPR) is 62.29%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Public Sector Pension Investment Board boosted its holdings in shares of Altria Group by 10.3% in the third quarter. Public Sector Pension Investment Board now owns 72,830 shares of the company’s stock valued at $3,717,000 after acquiring an additional 6,800 shares during the period. Arete Wealth Advisors LLC acquired a new stake in Altria Group during the 3rd quarter worth $963,000. True Wealth Design LLC grew its position in Altria Group by 420.0% during the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after purchasing an additional 462 shares during the last quarter. Atom Investors LP increased its stake in Altria Group by 13.1% in the third quarter. Atom Investors LP now owns 33,669 shares of the company’s stock valued at $1,718,000 after purchasing an additional 3,903 shares during the period. Finally, Benjamin Edwards Inc. raised its holdings in shares of Altria Group by 2,103.4% in the third quarter. Benjamin Edwards Inc. now owns 50,766 shares of the company’s stock valued at $2,591,000 after buying an additional 48,462 shares during the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Company Profile

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.