Altria Group (NYSE:MO) Trading 1.6% Higher – Here’s What Happened

Altria Group, Inc. (NYSE:MO) shares traded up 1.6% on Wednesday . The company traded as high as $69.29 and last traded at $69.13. Approximately 6,201,857 shares changed hands during trading, a decline of 34% from the average session volume of 9,369,009 shares. The stock had previously closed at $68.07.

Analyst Upgrades and Downgrades

MO has been the topic of several analyst reports. Jefferies Financial Group lifted their price target on shares of Altria Group from $50.00 to $60.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Altria Group in a research report on Tuesday, July 14th. Citigroup raised their target price on Altria Group from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft lifted their target price on Altria Group from $60.00 to $66.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. Finally, Barclays cut their price target on Altria Group from $64.00 to $58.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 11th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $70.11.

Altria Group Price Performance

The firm has a market cap of $112.97 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 2.45 and a beta of 0.46. The business’s 50-day moving average price is $70.11 and its two-hundred day moving average price is $68.95.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.02). Altria Group had a negative return on equity of 315.29% and a net margin of 33.99%.The company had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter last year, the firm posted $1.44 EPS. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. Altria Group has set its FY 2026 guidance at 5.610-5.720 EPS. Equities analysts predict that Altria Group, Inc. will post 5.67 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Tuesday, September 15th will be paid a $1.11 dividend. This is a boost from Altria Group’s previous quarterly dividend of $1.06. The ex-dividend date is Tuesday, September 15th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 6.6%. Altria Group’s dividend payout ratio (DPR) is currently 89.45%.

Hedge Funds Weigh In On Altria Group

Several large investors have recently modified their holdings of the stock. Illinois Municipal Retirement Fund lifted its holdings in shares of Altria Group by 7.1% in the 4th quarter. Illinois Municipal Retirement Fund now owns 668,243 shares of the company’s stock worth $38,531,000 after purchasing an additional 44,267 shares during the last quarter. Procyon Advisors LLC grew its stake in Altria Group by 59.3% during the 1st quarter. Procyon Advisors LLC now owns 38,926 shares of the company’s stock worth $2,569,000 after buying an additional 14,490 shares during the last quarter. Rayburn West Financial Services LLC bought a new position in Altria Group during the 4th quarter worth $2,438,000. North Dakota State Investment Board acquired a new stake in Altria Group in the fourth quarter worth $3,336,000. Finally, International Assets Investment Management LLC increased its position in Altria Group by 206.7% in the fourth quarter. International Assets Investment Management LLC now owns 75,573 shares of the company’s stock worth $4,358,000 after buying an additional 50,931 shares during the period. Institutional investors 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.