Altria Group (NYSE:MO) Shares Down 2.8% – Here’s Why

Altria Group, Inc. (NYSE:MO)’s stock price dropped 2.8% during mid-day trading on Wednesday . The company traded as low as $65.05 and last traded at $65.0920. Approximately 9,306,462 shares were traded during mid-day trading, a decline of 7% from the average daily volume of 9,979,536 shares. The stock had previously closed at $66.97.

Wall Street Analyst Weigh In

Several research firms have issued reports on MO. Citigroup lifted their price target on Altria Group from $57.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Jefferies Financial Group boosted their target price on Altria Group from $47.00 to $50.00 and gave the company an “underperform” rating in a research note on Wednesday, March 4th. Stifel Nicolaus decreased their price target 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. UBS Group increased their price objective on Altria Group from $67.00 to $74.00 and gave the company a “buy” rating in a report on Monday, March 9th. Finally, Argus raised shares of Altria Group to a “hold” rating in a research note on Tuesday, January 13th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $65.11.

Altria Group Trading Down 2.8%

The business has a 50 day moving average of $64.68 and a two-hundred day moving average of $62.59. The firm has a market cap of $108.83 billion, a P/E ratio of 15.84, a PEG ratio of 2.88 and a beta of 0.45.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, January 29th. The company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.02). 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% compared to the same quarter last year. During the same quarter last year, the company earned $1.30 EPS. On average, sell-side analysts predict that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, March 25th will be paid a $1.06 dividend. The ex-dividend date is Wednesday, March 25th. This represents a $4.24 annualized dividend and a yield of 6.5%. Altria Group’s payout ratio is 103.16%.

Insider Buying and Selling at Altria Group

In related news, SVP Charles N. Whitaker sold 27,908 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $67.57, for a total value of $1,885,743.56. Following the completion of the sale, the senior vice president directly owned 180,869 shares in the company, valued at approximately $12,221,318.33. The trade was a 13.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On Altria Group

Large investors have recently modified their holdings of the business. Johnson & White Wealth Management LLC boosted its holdings in Altria Group by 1.2% during the 4th quarter. Johnson & White Wealth Management LLC now owns 12,704 shares of the company’s stock worth $733,000 after acquiring an additional 154 shares during the last quarter. Kercheville Advisors LLC boosted its stake in Altria Group by 3.7% in the 3rd quarter. Kercheville Advisors LLC now owns 4,397 shares of the company’s stock worth $290,000 after purchasing an additional 156 shares during the period. Kanawha Capital Management LLC grew its stake in Altria Group by 0.8% during the fourth quarter. Kanawha Capital Management LLC now owns 19,546 shares of the company’s stock valued at $1,127,000 after acquiring an additional 160 shares in the last quarter. Strategic Advisors LLC grew its position in shares of Altria Group by 2.0% during the 4th quarter. Strategic Advisors LLC now owns 8,243 shares of the company’s stock valued at $475,000 after purchasing an additional 160 shares in the last quarter. Finally, Acorn Wealth Advisors LLC increased its stake in Altria Group by 1.6% in the 4th quarter. Acorn Wealth Advisors LLC now owns 10,117 shares of the company’s stock worth $583,000 after acquiring an additional 163 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 (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.