Altria Group (NYSE:MO) Price Target Raised to $48.00 at Bank of America

Altria Group (NYSE:MOFree Report) had its target price hoisted by Bank of America from $47.00 to $48.00 in a research note published on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages have also recently weighed in on MO. UBS Group lifted their price target on shares of Altria Group from $36.10 to $36.50 and gave the stock a sell rating in a research note on Monday, April 8th. Stifel Nicolaus reiterated a buy rating and set a $50.00 target price on shares of Altria Group in a research report on Monday, March 25th. Argus upgraded Altria Group to a hold rating in a research report on Friday, May 31st. Finally, StockNews.com raised Altria Group from a hold rating to a buy rating in a research report on Friday, June 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $47.10.

Check Out Our Latest Stock Report on MO

Altria Group Price Performance

Shares of MO opened at $46.93 on Wednesday. The firm has a market capitalization of $80.61 billion, a P/E ratio of 9.82, a PEG ratio of 2.80 and a beta of 0.66. Altria Group has a one year low of $39.06 and a one year high of $47.21. The business has a fifty day moving average of $45.65 and a 200 day moving average of $43.01.

Altria Group (NYSE:MOGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.15. Altria Group had a negative return on equity of 222.80% and a net margin of 34.81%. The business had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.71 billion. During the same period in the previous year, the company posted $1.18 EPS. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. Analysts expect that Altria Group will post 5.11 EPS for the current fiscal year.

Altria Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 14th were paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 8.35%. The ex-dividend date of this dividend was Friday, June 14th. Altria Group’s dividend payout ratio (DPR) is presently 82.01%.

Insider Buying and Selling at Altria Group

In other news, VP Charles N. Whitaker sold 22,487 shares of Altria Group stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $43.95, for a total value of $988,303.65. Following the transaction, the vice president now directly owns 173,485 shares in the company, valued at approximately $7,624,665.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Altria Group

Several institutional investors have recently bought and sold shares of the company. Maryland Capital Advisors Inc. increased its stake in Altria Group by 154.4% during the 1st quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock valued at $25,000 after purchasing an additional 349 shares in the last quarter. Accordant Advisory Group Inc purchased a new position in shares of Altria Group in the first quarter worth about $26,000. Criterion Capital Advisors LLC acquired a new stake in shares of Altria Group during the fourth quarter worth about $27,000. BNP Paribas purchased a new stake in Altria Group in the first quarter valued at approximately $27,000. Finally, ZRC Wealth Management LLC increased its holdings in Altria Group by 67.6% in the 4th quarter. ZRC Wealth Management LLC now owns 677 shares of the company’s stock worth $28,000 after buying an additional 273 shares during the period. 57.41% of the stock is currently owned by institutional investors and hedge funds.

About Altria Group

(Get Free Report)

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.

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Analyst Recommendations for Altria Group (NYSE:MO)

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