Goldman Sachs Group Inc. reiterated their neutral rating on shares of Altria Group (NYSE:MO) in a research note published on Saturday morning. Goldman Sachs Group Inc. currently has a $68.00 target price on the stock, down from their previous target price of $69.00.
Other equities analysts have also issued reports about the company. Stifel Nicolaus restated a buy rating and set a $71.00 target price (up from $65.00) on shares of Altria Group in a research report on Monday, June 27th. Vetr lowered Altria Group from a strong-buy rating to a buy rating and set a $71.90 target price for the company. in a research report on Tuesday, September 13th. Citigroup Inc. started coverage on Altria Group in a research report on Monday, September 12th. They set a buy rating and a $72.00 target price for the company. Argus set a $73.00 target price on Altria Group and gave the stock a buy rating in a research report on Monday, August 1st. Finally, Zacks Investment Research upgraded Altria Group from a hold rating to a buy rating and set a $78.00 target price for the company in a research report on Monday, July 11th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Altria Group has an average rating of Buy and a consensus price target of $69.36.
Shares of Altria Group (NYSE:MO) traded down 0.40% during trading on Friday, reaching $62.44. 4,716,586 shares of the company traded hands. Altria Group has a 12 month low of $56.15 and a 12 month high of $70.15. The stock has a market cap of $122.01 billion, a P/E ratio of 21.68 and a beta of 0.52. The stock’s 50 day moving average price is $63.79 and its 200-day moving average price is $64.96.
Altria Group (NYSE:MO) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.81 EPS for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.01. The firm earned $6.52 billion during the quarter, compared to analyst estimates of $5.01 billion. Altria Group had a return on equity of 198.82% and a net margin of 22.05%. The company’s revenue was down 1.4% on a year-over-year basis. During the same period last year, the company earned $0.74 earnings per share. On average, equities research analysts expect that Altria Group will post $3.05 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 11th. Stockholders of record on Thursday, September 15th were paid a dividend of $0.61 per share. The ex-dividend date was Tuesday, September 13th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 3.91%. This is a boost from Altria Group’s previous quarterly dividend of $0.57. Altria Group’s dividend payout ratio is currently 84.72%.
In other news, SVP James E. Dillard III sold 9,000 shares of the company’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 transaction of $600,120.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Charles N. Whitaker sold 11,000 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The stock was 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. Insiders own 0.15% of the company’s stock.
Large investors have recently made changes to their positions in the company. Emerald Acquisition Ltd. acquired a new position in Altria Group during the second quarter worth $233,157,000. Vanguard Group Inc. raised its position 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 last quarter. Wellington Management Group LLP raised its position in Altria Group by 28.8% in the first quarter. Wellington Management Group LLP now owns 14,356,887 shares of the company’s stock worth $899,602,000 after buying an additional 3,207,663 shares during the last quarter. Janus Capital Management LLC raised its position in Altria Group by 16.5% in the second quarter. Janus Capital Management LLC now owns 19,024,943 shares of the company’s stock worth $1,311,960,000 after buying an additional 2,688,986 shares during the last quarter. Finally, Bank of Montreal Can acquired a new position in Altria Group during the second quarter worth $170,990,000. Institutional investors 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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