Altria Group (NYSE:MO) had its target price reduced by research analysts at UBS AG from $72.00 to $68.00 in a research note issued on Friday, October 27th, www.benzinga.com reports. The brokerage currently has a “neutral” rating on the stock. UBS AG’s price objective suggests a potential upside of 4.58% from the stock’s previous close.
Other equities analysts also recently issued reports about the company. Stifel Nicolaus reduced their target price on Altria Group from $77.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, July 31st. Piper Jaffray Companies set a $76.00 target price on Altria Group and gave the stock a “buy” rating in a research report on Thursday, July 27th. Vetr lowered Altria Group from a “strong-buy” rating to a “buy” rating and set a $69.00 price target for the company. in a research note on Wednesday, September 6th. Zacks Investment Research upgraded Altria Group from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research note on Wednesday, October 11th. Finally, Cowen and Company set a $78.00 price target on Altria Group and gave the stock a “hold” rating in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Altria Group has an average rating of “Buy” and a consensus price target of $72.06.
Shares of Altria Group (NYSE MO) opened at $65.02 on Friday. Altria Group has a 12-month low of $60.01 and a 12-month high of $77.79. The stock has a market capitalization of $124,070.50, a price-to-earnings ratio of 20.58, a PEG 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 (NYSE:MO) last released its earnings results on Thursday, October 26th. The company reported $0.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.03. Altria Group had a return on equity of 49.43% and a net margin of 60.37%. The firm had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the prior year, the business posted $0.82 earnings per share. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. sell-side analysts anticipate that Altria Group will post 3.28 EPS for the current fiscal year.
Altria Group announced that its Board of Directors has authorized a share repurchase plan on Thursday, July 27th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 0.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
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In other Altria Group news, Director Dinyar S. Devitre sold 32,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $61.22, for a total transaction of $1,959,040.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.11% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. Sterling Investment Advisors Ltd. lifted its holdings in Altria Group by 133.3% during the 1st quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock worth $100,000 after buying an additional 800 shares during the last quarter. Solaris Asset Management LLC lifted its holdings in Altria Group by 65.7% during the 2nd quarter. Solaris Asset Management LLC now owns 1,405 shares of the company’s stock worth $105,000 after buying an additional 557 shares during the last quarter. CKW Financial Group bought a new position in Altria Group during the 2nd quarter worth approximately $109,000. Balentine LLC lifted its holdings in Altria Group by 32.4% during the 2nd quarter. Balentine LLC now owns 1,460 shares of the company’s stock worth $109,000 after buying an additional 357 shares during the last quarter. Finally, NewSquare Capital LLC lifted its holdings in Altria Group by 4,734.7% during the 3rd quarter. NewSquare Capital LLC now owns 108,780 shares of the company’s stock worth $109,000 after buying an additional 106,530 shares during the last quarter. 62.29% of the stock is currently owned by institutional investors.
Altria Group Company Profile
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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