Altria Group, Inc. (NYSE:MO) Receives $47.08 Average Target Price from Brokerages

Altria Group, Inc. (NYSE:MO) has earned a consensus recommendation of “Hold” from the seven ratings firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $47.08.

A number of equities research analysts have recently weighed in on MO shares. Bank of America boosted their price objective on shares of Altria Group from $47.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Stifel Nicolaus increased their price objective on Altria Group from $50.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Argus raised Altria Group to a “hold” rating in a report on Friday, May 31st. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a report on Friday, June 28th. Finally, Barclays lifted their price objective on shares of Altria Group from $37.00 to $43.00 and gave the company an “underweight” rating in a research note on Wednesday, August 14th.

Altria Group Price Performance

Shares of NYSE:MO opened at $52.44 on Friday. The firm has a market capitalization of $90.07 billion, a P/E ratio of 10.97, a P/E/G ratio of 3.07 and a beta of 0.66. The business’s 50-day moving average is $48.53 and its 200 day moving average is $45.08. Altria Group has a 1 year low of $39.06 and a 1 year high of $52.46.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.04). The company had revenue of $6.21 billion for the quarter, compared to analyst estimates of $5.39 billion. Altria Group had a net margin of 42.25% and a negative return on equity of 232.55%. The business’s revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.31 EPS. On average, analysts expect that Altria Group will post 5.11 EPS for the current year.

Altria Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Monday, September 16th will be paid a dividend of $1.02 per share. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a dividend yield of 7.78%. The ex-dividend date is Monday, September 16th. Altria Group’s dividend payout ratio is presently 82.01%.

Hedge Funds Weigh In On Altria Group

Several institutional investors and hedge funds have recently modified their holdings of MO. International Assets Investment Management LLC purchased a new position in Altria Group during the fourth quarter valued at $3,945,000. Tennessee Valley Asset Management Partners purchased a new position in Altria Group in the 4th quarter valued at about $43,000. Xponance Inc. boosted its holdings in Altria Group by 1.0% in the 4th quarter. Xponance Inc. now owns 194,931 shares of the company’s stock worth $7,864,000 after buying an additional 2,015 shares during the last quarter. Fidelis Capital Partners LLC increased its stake in Altria Group by 51.4% during the 4th quarter. Fidelis Capital Partners LLC now owns 7,442 shares of the company’s stock worth $300,000 after buying an additional 2,527 shares in the last quarter. Finally, HTLF Bank acquired a new position in shares of Altria Group during the fourth quarter valued at approximately $223,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Company Profile

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.