MO has been the subject of a number of other research reports. Zacks Investment Research lowered shares of Altria Group from a buy rating to a hold rating in a report on Monday, July 4th. Credit Agricole SA dropped their price objective on shares of Altria Group from $69.00 to $68.00 and set an outperform rating for the company in a report on Thursday, September 15th. Vetr raised shares of Altria Group from a buy rating to a strong-buy rating and set a $72.13 price objective for the company in a report on Wednesday, May 25th. Citigroup Inc. assumed coverage on shares of Altria Group in a report on Monday, September 12th. They issued a buy rating and a $72.00 price objective for the company. Finally, Berenberg Bank assumed coverage on shares of Altria Group in a report on Tuesday, June 14th. They issued a buy rating and a $74.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $69.45.
Shares of Altria Group (NYSE:MO) traded up 0.77% during midday trading on Wednesday, reaching $63.99. 734,597 shares of the company were exchanged. Altria Group has a 52 week low of $53.68 and a 52 week high of $70.15. The firm has a 50-day moving average of $65.63 and a 200 day moving average of $64.92. The firm has a market capitalization of $125.04 billion, a P/E ratio of 22.22 and a beta of 0.48.
Altria Group (NYSE:MO) last released its earnings results on Wednesday, July 27th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.01. Altria Group had a net margin of 22.05% and a return on equity of 198.82%. The business earned $6.52 billion during the quarter, compared to analyst estimates of $5.01 billion. During the same quarter in the prior year, the firm earned $0.74 earnings per share. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, equities research analysts expect that Altria Group will post $3.05 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 11th. Investors of record on Thursday, September 15th will be issued a $0.61 dividend. This is a boost from Altria Group’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $2.44 annualized dividend and a yield of 3.84%. Altria Group’s dividend payout ratio (DPR) is 84.72%.
In other Altria Group news, SVP James E. Dillard III sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $66.68, for a total transaction of $600,120.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Charles N. Whitaker sold 11,000 shares of the firm’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 transaction of $731,830.00. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in MO. First PREMIER Bank bought a new stake in Altria Group during the second quarter worth $103,000. First Personal Financial Services boosted its stake in Altria Group by 66.3% in the second quarter. First Personal Financial Services now owns 1,603 shares of the company’s stock worth $111,000 after buying an additional 639 shares during the last quarter. Tortoise Investment Management LLC boosted its stake in Altria Group by 26.6% in the second quarter. Tortoise Investment Management LLC now owns 1,654 shares of the company’s stock worth $114,000 after buying an additional 348 shares during the last quarter. CapWealth Advisors LLC boosted its stake in Altria Group by 6.3% in the first quarter. CapWealth Advisors LLC now owns 2,073 shares of the company’s stock worth $130,000 after buying an additional 123 shares during the last quarter. Finally, Zions Bancorporation boosted its stake in Altria Group by 48.4% in the second quarter. Zions Bancorporation now owns 1,971 shares of the company’s stock worth $137,000 after buying an additional 643 shares during the last quarter. 61.29% of the stock is currently owned by institutional investors.
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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