Altria Group (NYSE:MO) had its price target reduced by investment analysts at UBS AG from $72.00 to $68.00 in a research report issued to clients and investors on Friday, October 27th, www.benzinga.com reports. The brokerage presently has a “neutral” rating on the stock. UBS AG’s price target suggests a potential upside of 4.58% from the company’s current price.
MO has been the topic of a number of other research reports. BidaskClub upgraded Altria Group from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Vetr upgraded Altria Group from a “buy” rating to a “strong-buy” rating and set a $69.00 target price on the stock in a research note on Wednesday, September 20th. Jefferies Group LLC set a $67.00 target price on Altria Group and gave the stock a “hold” rating in a research note on Thursday, August 24th. Piper Jaffray Companies reiterated a “buy” rating and issued a $76.00 price objective on shares of Altria Group in a research note on Friday, October 27th. Finally, Royal Bank Of Canada upgraded Altria Group from an “underperform” rating to a “sector perform” rating and set a $62.00 price objective on the stock in a research note on Monday, July 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $72.06.
Shares of Altria Group (NYSE MO) opened at $65.02 on Friday. The company has a market capitalization of $124,070.50, a PE ratio of 20.58, a P/E/G ratio of 2.66 and a beta of 0.60. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.77 and a quick ratio of 0.48. Altria Group has a 12-month low of $60.01 and a 12-month high of $77.79.
Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, October 26th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The business had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.22 billion. Altria Group had a return on equity of 49.43% and a net margin of 60.37%. The company’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.82 EPS. equities analysts anticipate that Altria Group will post 3.28 earnings per share for the current fiscal year.
Altria Group announced that its board has initiated a stock repurchase plan on Thursday, July 27th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 0.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
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In other news, Director Dinyar S. Devitre sold 32,000 shares of the stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $61.22, for a total transaction of $1,959,040.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.11% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in MO. Sterling Investment Advisors Ltd. raised its stake in Altria Group by 133.3% in the first quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock worth $100,000 after buying an additional 800 shares in the last quarter. Solaris Asset Management LLC raised its stake in Altria Group by 65.7% in the second quarter. Solaris Asset Management LLC now owns 1,405 shares of the company’s stock worth $105,000 after buying an additional 557 shares in the last quarter. CKW Financial Group bought a new position in Altria Group in the second quarter worth about $109,000. Balentine LLC raised its stake in Altria Group by 32.4% in the second quarter. Balentine LLC now owns 1,460 shares of the company’s stock worth $109,000 after buying an additional 357 shares in the last quarter. Finally, NewSquare Capital LLC raised its stake in Altria Group by 4,734.7% in the third quarter. NewSquare Capital LLC now owns 108,780 shares of the company’s stock worth $109,000 after buying an additional 106,530 shares in the last quarter. 62.30% of the stock is owned by 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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