Altria Group (NYSE:MO) Sets New 1-Year Low at $40.84

Altria Group, Inc. (NYSE:MOGet Rating)’s share price hit a new 52-week low on Friday . The company traded as low as $40.84 and last traded at $41.76, with a volume of 694268 shares changing hands. The stock had previously closed at $43.27.

Analyst Upgrades and Downgrades

MO has been the topic of a number of research analyst reports. Cowen decreased their price target on shares of Altria Group from $56.00 to $45.00 and set a “market perform” rating on the stock in a research report on Monday, June 27th. Morgan Stanley raised shares of Altria Group from an “underweight” rating to an “equal weight” rating and cut their target price for the company from $47.00 to $43.00 in a research note on Friday, June 24th. Cowen dropped their price objective on shares of Altria Group from $56.00 to $45.00 and set a “market perform” rating for the company in a research note on Monday, June 27th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Altria Group from $60.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, July 1st. Finally, StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $47.00.

Altria Group Price Performance

The firm has a market capitalization of $75.09 billion, a PE ratio of 44.61, a price-to-earnings-growth ratio of 1.36 and a beta of 0.59. The business’s 50-day moving average price is $44.27 and its 200-day moving average price is $48.49.

Altria Group (NYSE:MOGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. The firm had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.42 billion. Altria Group had a net margin of 6.88% and a negative return on equity of 488.86%. Altria Group’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period last year, the firm posted $1.23 EPS. Equities analysts forecast that Altria Group, Inc. will post 4.85 earnings per share for the current year.

Altria Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 11th. Stockholders of record on Thursday, September 15th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 9.02%. The ex-dividend date is Wednesday, September 14th. This is an increase from Altria Group’s previous quarterly dividend of $0.90. Altria Group’s payout ratio is 387.63%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MO. Loomis Sayles & Co. L P acquired a new position in shares of Altria Group during the 1st quarter valued at about $25,000. WFA of San Diego LLC acquired a new position in shares of Altria Group during the 2nd quarter valued at about $26,000. Bromfield Sneider Wealth Advisors acquired a new position in shares of Altria Group during the 1st quarter valued at about $27,000. Arlington Partners LLC acquired a new position in shares of Altria Group during the 2nd quarter valued at about $27,000. Finally, Rinkey Investments acquired a new position in shares of Altria Group during the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 59.75% of the company’s stock.

About Altria Group

(Get Rating)

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company provides cigarettes primarily under the Marlboro brand; cigars and pipe tobacco principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands, as well as provides on! oral nicotine pouches.

Further Reading

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