Altria Group (NYSE:MO) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Altria Group (NYSE:MO) from a hold rating to a buy rating in a research note issued to investors on Friday.

Several other equities analysts have also recently weighed in on the company. Stifel Nicolaus reiterated a buy rating and set a $50.00 price objective on shares of Altria Group in a report on Monday, March 25th. Argus upgraded Altria Group to a hold rating in a research note on Friday, May 31st. Finally, UBS Group lifted their price objective on shares of Altria Group from $36.10 to $36.50 and gave the company a sell rating in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $46.90.

Altria Group Trading Up 0.2 %

Shares of NYSE MO opened at $45.55 on Friday. The company has a 50-day moving average of $45.19 and a two-hundred day moving average of $42.75. Altria Group has a 1-year low of $39.06 and a 1-year high of $47.19. The company has a market cap of $78.24 billion, a PE ratio of 9.53, a P/E/G ratio of 2.77 and a beta of 0.64.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, April 25th. The company reported $1.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.15. Altria Group had a net margin of 34.81% and a negative return on equity of 222.80%. The business had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.71 billion. During the same period in the previous year, the firm posted $1.18 earnings per share. Altria Group’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, equities research analysts forecast that Altria Group will post 5.11 earnings per share for the current year.

Altria Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Friday, June 14th will be given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 8.61%. The ex-dividend date is Friday, June 14th. Altria Group’s payout ratio is 82.01%.

Insiders Place Their Bets

In other Altria Group news, VP Charles N. Whitaker sold 22,487 shares of Altria Group stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $43.95, for a total value of $988,303.65. Following the completion of the transaction, the vice president now directly owns 173,485 shares of the company’s stock, valued at approximately $7,624,665.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Altria Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in MO. Patten & Patten Inc. TN lifted its stake in Altria Group by 1.6% in the 1st quarter. Patten & Patten Inc. TN now owns 14,293 shares of the company’s stock valued at $623,000 after purchasing an additional 224 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its stake in Altria Group by 12.1% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,150 shares of the company’s stock valued at $95,000 after purchasing an additional 232 shares during the last quarter. Taylor & Morgan Wealth Management LLC grew its holdings in Altria Group by 2.1% during the fourth quarter. Taylor & Morgan Wealth Management LLC now owns 11,981 shares of the company’s stock worth $483,000 after buying an additional 246 shares in the last quarter. Janiczek Wealth Management LLC grew its stake in shares of Altria Group by 7.0% in the 1st quarter. Janiczek Wealth Management LLC now owns 3,767 shares of the company’s stock worth $168,000 after acquiring an additional 247 shares in the last quarter. Finally, Salvus Wealth Management LLC grew its position in Altria Group by 1.8% in the 4th quarter. Salvus Wealth Management LLC now owns 14,326 shares of the company’s stock worth $578,000 after purchasing an additional 250 shares in the last quarter. 57.41% of the stock is currently owned by institutional investors.

About Altria Group

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.