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BROKERAGES SET ALTRIA GROUP, INC. (NYSE:MO) PT AT $49.67

Posted by ABMN Staff on Oct 10th, 2024

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Shares of Altria Group, Inc. (NYSE:MO – Get Free Report) have been given a
consensus recommendation of “Hold” by the seven analysts that are currently
covering the firm, Marketbeat reports. Two equities research analysts have rated
the stock with a sell rating, three have assigned a hold rating and two have
issued a buy rating on the company. The average twelve-month price target among
analysts that have covered the stock in the last year is $50.17.

Get Altria Group alerts:



A number of research analysts have recently issued reports on the company.
Citigroup increased their target price on Altria Group from $44.50 to $48.00 and
gave the company a “neutral” rating in a research report on Tuesday. Barclays
increased their target price on Altria Group from $43.00 to $45.00 and gave the
company an “underweight” rating in a research report on Monday, September 9th.
Stifel Nicolaus increased their target price on Altria Group from $50.00 to
$54.00 and gave the company a “buy” rating in a research report on Thursday,
August 1st. UBS Group increased their target price on Altria Group from $39.00
to $41.00 and gave the company a “sell” rating in a research report on Monday,
September 9th. Finally, StockNews.com lowered Altria Group from a “buy” rating
to a “hold” rating in a research report on Tuesday.

Get Our Latest Stock Analysis on Altria Group


ALTRIA GROUP TRADING UP 1.4 %




Altria Group stock opened at $50.24 on Monday. Altria Group has a 12 month low
of $39.06 and a 12 month high of $54.95. The stock’s 50 day simple moving
average is $51.55 and its two-hundred day simple moving average is $47.45. The
firm has a market cap of $86.29 billion, a PE ratio of 10.46, a P/E/G ratio of
2.95 and a beta of 0.65.



Altria Group (NYSE:MO – Get Free Report) last released its quarterly earnings
data on Wednesday, July 31st. The company reported $1.31 EPS for the quarter,
missing the consensus estimate of $1.35 by ($0.04). Altria Group had a negative
return on equity of 232.55% and a net margin of 42.25%. The company had revenue
of $6.21 billion during the quarter, compared to analysts’ expectations of $5.39
billion. During the same quarter in the prior year, the company posted $1.31
EPS. The company’s revenue for the quarter was up 14.2% on a year-over-year
basis. On average, equities research analysts forecast that Altria Group will
post 5.11 EPS for the current year.


ALTRIA GROUP INCREASES DIVIDEND

The company also recently disclosed a quarterly dividend, which will be paid on
Thursday, October 10th. Investors of record on Monday, September 16th will be
paid a $1.02 dividend. This is an increase from Altria Group’s previous
quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a
yield of 8.12%. The ex-dividend date of this dividend is Monday, September 16th.
Altria Group’s dividend payout ratio is currently 85.36%.


INSTITUTIONAL INFLOWS AND OUTFLOWS

Several hedge funds have recently added to or reduced their stakes in the
company. Van ECK Associates Corp increased its stake in shares of Altria Group
by 120.6% in the 1st quarter. Van ECK Associates Corp now owns 8,762,047 shares
of the company’s stock worth $382,201,000 after acquiring an additional
4,789,788 shares during the last quarter. AQR Capital Management LLC increased
its position in shares of Altria Group by 25.0% during the 2nd quarter. AQR
Capital Management LLC now owns 6,490,441 shares of the company’s stock worth
$295,055,000 after purchasing an additional 1,299,703 shares during the last
quarter. Cetera Investment Advisers increased its position in shares of Altria
Group by 415.4% during the 1st quarter. Cetera Investment Advisers now owns
984,285 shares of the company’s stock worth $42,935,000 after purchasing an
additional 793,327 shares during the last quarter. Ilex Capital Partners UK LLP
acquired a new stake in shares of Altria Group during the 1st quarter worth
about $27,613,000. Finally, Distillate Capital Partners LLC increased its
position in shares of Altria Group by 182,943.7% during the 2nd quarter.
Distillate Capital Partners LLC now owns 569,266 shares of the company’s stock
worth $25,930,000 after purchasing an additional 568,955 shares during the last
quarter. 57.41% of the stock is owned by institutional investors and hedge
funds.


ALTRIA GROUP COMPANY PROFILE

(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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