Altria Group (NYSE:MO) Trading 0.2% Higher After Dividend Announcement

Altria Group, Inc. (NYSE:MO) shares were up 0.2% during mid-day trading on Thursday after the company announced a dividend. The stock traded as high as $55.18 and last traded at $54.94. Approximately 1,486,963 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 7,404,230 shares. The stock had previously closed at $54.85.

The newly announced dividend which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, March 25th will be given a dividend of $1.02 per share. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.31%. Altria Group’s dividend payout ratio (DPR) is 62.29%.

Analyst Upgrades and Downgrades

MO has been the subject of several recent analyst reports. Stifel Nicolaus increased their price objective on shares of Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Morgan Stanley decreased their price target on Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and lifted their price target for the company from $55.00 to $65.00 in a research report on Friday, December 6th. Barclays upped their price objective on Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a report on Wednesday, November 6th. Finally, StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $53.29.

Altria Group Stock Performance

The firm has a 50 day moving average price of $52.77 and a two-hundred day moving average price of $52.89. The firm has a market capitalization of $94.61 billion, a P/E ratio of 8.52, a price-to-earnings-growth ratio of 2.89 and a beta of 0.64.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, January 30th. The company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. Equities research analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Altria Group

A number of large investors have recently made changes to their positions in the company. Financial Life Planners purchased a new position in Altria Group during the 4th quarter worth approximately $25,000. Redwood Park Advisors LLC acquired a new stake in shares of Altria Group in the fourth quarter worth $26,000. True Wealth Design LLC grew its holdings in shares of Altria Group by 420.0% during the third quarter. True Wealth Design LLC now owns 572 shares of the company’s stock valued at $29,000 after buying an additional 462 shares in the last quarter. VSM Wealth Advisory LLC purchased a new position in shares of Altria Group during the fourth quarter valued at $29,000. Finally, Marshall Investment Management LLC acquired a new position in Altria Group during the fourth quarter valued at $32,000. 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.