Altria Group (NYSE:MO)‘s stock had its “hold” rating reissued by equities research analysts at Cowen and Company in a research note issued on Sunday.
A number of other research analysts also recently weighed in on MO. Vetr downgraded Altria Group from a “strong-buy” rating to a “buy” rating and set a $69.00 price objective on the stock. in a research note on Wednesday, September 6th. Berenberg Bank set a $72.00 price objective on Altria Group and gave the company a “hold” rating in a research note on Sunday, August 6th. BidaskClub raised Altria Group from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. UBS AG cut their price objective on Altria Group from $78.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, July 31st. Finally, Jefferies Group LLC set a $67.00 price objective on Altria Group and gave the company a “hold” rating in a research note on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. Altria Group has a consensus rating of “Hold” and an average price target of $71.81.
Altria Group (NYSE MO) opened at 62.49 on Friday. The stock has a market cap of $120.48 billion, a PE ratio of 8.24 and a beta of 0.63. The firm has a 50-day moving average price of $65.40 and a 200-day moving average price of $71.61. Altria Group has a 12-month low of $60.01 and a 12-month high of $77.79.
Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, July 27th. The company reported $0.85 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.86 by $0.01. Altria Group had a net margin of 56.98% and a return on equity of 59.50%. The company had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $5.02 billion. During the same period in the previous year, the business posted $0.81 earnings per share. The firm’s revenue was up 3.2% on a year-over-year basis. Analysts forecast that Altria Group will post $3.26 EPS for the current fiscal year.
Altria Group announced that its Board of Directors has authorized a stock buyback program on Thursday, July 27th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 0.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.
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In other news, CEO Martin J. Barrington sold 15,300 shares of Altria Group stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $65.03, for a total transaction of $994,959.00. Following the sale, the chief executive officer now owns 701,074 shares of the company’s stock, valued at approximately $45,590,842.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in the company. Mascoma Wealth Management LLC grew its holdings in shares of Altria Group by 0.3% during the 1st quarter. Mascoma Wealth Management LLC now owns 2,701 shares of the company’s stock worth $193,000 after purchasing an additional 8 shares in the last quarter. HM Capital Management LLC boosted its stake in Altria Group by 0.3% in the 1st quarter. HM Capital Management LLC now owns 3,435 shares of the company’s stock valued at $245,000 after buying an additional 9 shares in the last quarter. Baystate Wealth Management LLC boosted its stake in Altria Group by 0.3% in the 2nd quarter. Baystate Wealth Management LLC now owns 3,675 shares of the company’s stock valued at $270,000 after buying an additional 10 shares in the last quarter. Bellwether Investment Group LLC boosted its stake in Altria Group by 0.3% in the 2nd quarter. Bellwether Investment Group LLC now owns 4,451 shares of the company’s stock valued at $331,000 after buying an additional 12 shares in the last quarter. Finally, Strategic Financial Group LLC boosted its stake in Altria Group by 0.4% in the 1st quarter. Strategic Financial Group LLC now owns 3,293 shares of the company’s stock valued at $235,000 after buying an additional 14 shares in the last quarter. 61.89% of the stock is currently 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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