Several other equities research analysts also recently weighed in on the company. Zacks Investment Research raised Altria Group from a hold rating to a buy rating and set a $78.00 price target for the company in a report on Monday, July 11th. Vetr raised Altria Group from a buy rating to a strong-buy rating and set a $77.35 price target for the company in a report on Wednesday, July 20th. Goldman Sachs Group Inc. reissued a neutral rating and issued a $69.00 price target (up previously from $64.00) on shares of Altria Group in a report on Friday, July 15th. Argus set a $73.00 price target on Altria Group and gave the stock a buy rating in a report on Monday, August 1st. Finally, Stifel Nicolaus reissued a buy rating and issued a $71.00 price target (up previously from $65.00) on shares of Altria Group in a report on Monday, June 27th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $69.44.
Shares of Altria Group (NYSE:MO) opened at 62.82 on Monday. The company has a 50-day moving average of $65.10 and a 200 day moving average of $64.94. The stock has a market capitalization of $122.75 billion, a price-to-earnings ratio of 21.81 and a beta of 0.48. Altria Group has a 12-month low of $53.68 and a 12-month high of $70.15.
Altria Group (NYSE:MO) last posted its earnings results on Wednesday, July 27th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.01. Altria Group had a return on equity of 198.82% and a net margin of 22.05%. The company had revenue of $6.52 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same quarter in the previous year, the firm earned $0.74 earnings per share. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. Analysts predict that Altria Group will post $3.05 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 11th. Investors of record on Thursday, September 15th will be given a dividend of $0.61 per share. This is a boost from Altria Group’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a yield of 3.88%. The ex-dividend date is Tuesday, September 13th. Altria Group’s dividend payout ratio (DPR) is currently 84.72%.
In other news, SVP James E. Dillard III sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $66.68, for a total value of $600,120.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Charles N. Whitaker sold 11,000 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $66.53, for a total value of $731,830.00. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Altria Group by 2.8% in the second quarter. Vanguard Group Inc. now owns 125,294,855 shares of the company’s stock worth $8,640,334,000 after buying an additional 3,366,581 shares during the period. State Street Corp boosted its stake in shares of Altria Group by 1.9% in the first quarter. State Street Corp now owns 72,465,487 shares of the company’s stock valued at $4,540,692,000 after buying an additional 1,328,172 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Altria Group by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 52,621,380 shares of the company’s stock valued at $3,297,256,000 after buying an additional 819,082 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of Altria Group by 4.0% in the second quarter. BlackRock Fund Advisors now owns 32,577,674 shares of the company’s stock valued at $2,246,556,000 after buying an additional 1,259,777 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of Altria Group by 10.7% in the second quarter. FMR LLC now owns 25,539,336 shares of the company’s stock valued at $1,761,192,000 after buying an additional 2,464,718 shares during the last quarter. Institutional investors and hedge funds own 61.29% of the company’s stock.
About Altria Group
Altria Group, Inc is a holding company. The Company’s subsidiaries include Philip Morris USA Inc (PM USA), which is engaged in the manufacture and sale of cigarettes in the United States; John Middleton Co (Middleton), which is engaged in the manufacture and sale of machine-made large cigars and pipe tobacco, and UST LLC (UST), which through its subsidiaries, including U.S.
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