Altria Group (NYSE:MO) had its price target dropped by Morgan Stanley from $74.00 to $70.00 in a note issued to investors on Wednesday. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 9.41% from the stock’s previous close.
Several other analysts have also recently weighed in on MO. Citigroup cut Altria Group from a “buy” rating to a “neutral” rating and set a $75.00 price objective on the stock. in a research report on Wednesday. Vetr raised Altria Group from a “sell” rating to a “hold” rating and set a $69.29 price objective on the stock in a research report on Thursday, December 28th. Zacks Investment Research raised Altria Group from a “sell” rating to a “hold” rating in a research report on Monday, January 8th. Argus reaffirmed a “buy” rating and set a $79.00 price objective (up from $66.13) on shares of Altria Group in a research report on Wednesday, March 14th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $62.00 price objective (down from $65.00) on shares of Altria Group in a research report on Monday, February 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Altria Group currently has an average rating of “Buy” and an average price target of $74.21.
Altria Group stock opened at $63.98 on Wednesday. The company has a current ratio of 0.64, a quick ratio of 0.31 and a debt-to-equity ratio of 0.85. The company has a market cap of $122,103.84, a price-to-earnings ratio of 18.93, a PEG ratio of 1.86 and a beta of 0.62. Altria Group has a fifty-two week low of $59.07 and a fifty-two week high of $77.79.
Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, February 1st. The company reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.11. The business had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.80 billion. Altria Group had a return on equity of 50.01% and a net margin of 39.97%. The business’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 EPS. analysts forecast that Altria Group will post 4.01 earnings per share for the current year.
Altria Group announced that its Board of Directors has approved a share repurchase program on Thursday, February 1st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
In other news, CEO Brian W. Quigley sold 3,464 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $62.40, for a total value of $216,153.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP W Hildebrandt Surgner, Jr. sold 3,200 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $62.34, for a total value of $199,488.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,117 shares of company stock worth $1,821,707. Insiders own 0.11% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of MO. NewSquare Capital LLC lifted its position in Altria Group by 4,734.7% in the 3rd quarter. NewSquare Capital LLC now owns 108,780 shares of the company’s stock valued at $109,000 after acquiring an additional 106,530 shares in the last quarter. Balentine LLC lifted its position in Altria Group by 32.4% in the 2nd quarter. Balentine LLC now owns 1,460 shares of the company’s stock valued at $109,000 after acquiring an additional 357 shares in the last quarter. Quantum Capital Management LLC NJ bought a new position in Altria Group in the 3rd quarter valued at approximately $114,000. Northwest Investment Counselors LLC lifted its position in Altria Group by 557.0% in the 3rd quarter. Northwest Investment Counselors LLC now owns 1,820 shares of the company’s stock valued at $115,000 after acquiring an additional 1,543 shares in the last quarter. Finally, Oak Point Wealth Management bought a new position in Altria Group in the 4th quarter valued at approximately $120,000. 62.54% of the stock is currently owned by hedge funds and other institutional investors.
About Altria Group
Altria Group, Inc is a holding company. The Company’s segments include smokeable products, smokeless products and wine. 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 cigars and pipe tobacco, and UST LLC (UST), which, through its subsidiaries, including U.S.
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