Altria Group (NYSE:MO) had its target price hoisted by Citigroup from $59.00 to $67.00 in a report issued on Friday, September 21st, Marketbeat Ratings reports. Citigroup currently has a hold rating on the stock.
Other equities research analysts have also issued research reports about the company. Bank of America set a $70.00 price objective on Altria Group and gave the company a buy rating in a report on Thursday, September 13th. Jefferies Financial Group set a $70.00 price objective on Altria Group and gave the company a buy rating in a report on Friday, June 1st. Stifel Nicolaus lowered their price objective on Altria Group from $78.00 to $65.00 and set a buy rating on the stock in a report on Friday, July 27th. Piper Jaffray Companies set a $75.00 price target on Altria Group and gave the stock a buy rating in a research note on Monday, July 23rd. Finally, Morgan Stanley decreased their price target on Altria Group from $65.00 to $63.00 and set an equal weight rating on the stock in a research note on Tuesday, June 26th. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $70.28.
Shares of NYSE MO traded down $1.06 during midday trading on Friday, reaching $60.06. 10,245,515 shares of the company were exchanged, compared to its average volume of 7,832,566. The company has a quick ratio of 0.31, a current ratio of 0.65 and a debt-to-equity ratio of 0.83. Altria Group has a 1 year low of $53.91 and a 1 year high of $74.38. The firm has a market cap of $113.69 billion, a P/E ratio of 17.77, a P/E/G ratio of 1.71 and a beta of 0.61.
Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, July 26th. The company reported $1.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.01. Altria Group had a return on equity of 48.88% and a net margin of 42.00%. The company had revenue of $4.88 billion for the quarter, compared to analyst estimates of $5.02 billion. During the same quarter in the previous year, the company earned $0.85 EPS. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, analysts anticipate that Altria Group will post 4 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 10th. Shareholders of record on Friday, September 14th were issued a $0.80 dividend. The ex-dividend date was Thursday, September 13th. This is an increase from Altria Group’s previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a yield of 5.33%. Altria Group’s payout ratio is 94.67%.
In other Altria Group news, Director Dinyar S. Devitre sold 3,165 shares of the business’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $58.44, for a total value of $184,962.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.11% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Exeter Financial LLC grew its stake in shares of Altria Group by 8.7% during the 2nd quarter. Exeter Financial LLC now owns 20,414 shares of the company’s stock valued at $1,159,000 after buying an additional 1,638 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Altria Group during the 2nd quarter valued at $20,143,000. Independence Bank of Kentucky grew its stake in shares of Altria Group by 13.2% during the 2nd quarter. Independence Bank of Kentucky now owns 14,488 shares of the company’s stock valued at $823,000 after buying an additional 1,685 shares during the period. Private Advisor Group LLC grew its stake in shares of Altria Group by 86.2% during the 2nd quarter. Private Advisor Group LLC now owns 222,215 shares of the company’s stock valued at $12,456,000 after buying an additional 102,859 shares during the period. Finally, Financial Sense Advisors Inc. grew its stake in shares of Altria Group by 1,507.5% during the 2nd quarter. Financial Sense Advisors Inc. now owns 56,262 shares of the company’s stock valued at $3,195,000 after buying an additional 52,762 shares during the period. Institutional investors own 63.12% of the company’s stock.
Altria Group Company Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.
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