Altria Group (NYSE:MO) Given New $83.00 Price Target at UBS Group

Altria Group (NYSE:MO) had its price target increased by UBS Group from $79.00 to $83.00 in a research report released on Friday,Benzinga reports. They currently have a buy rating on the stock.

MO has been the topic of a number of other research reports. Weiss Ratings restated a “buy (b)” rating on shares of Altria Group in a report on Monday, October 12th. Freedom Broker raised shares of Altria Group to a “hold” rating in a report on Wednesday, September 16th. Morgan Stanley upped their target price on shares of Altria Group from $71.00 to $77.00 and gave the stock an “equal weight” rating in a report on Friday. Citigroup increased their target price on shares of Altria Group from $70.00 to $72.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Barclays lowered their price target on shares of Altria Group from $64.00 to $58.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 11th. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $71.44.

Altria Group Price Performance

NYSE MO opened at $78.03 on Friday. The company has a market cap of $129.80 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 2.69 and a beta of 0.43. The stock’s fifty day moving average price is $70.45 and its 200 day moving average price is $68.75. Altria Group has a 1 year low of $54.70 and a 1 year high of $79.81.

Altria Group (NYSE:MO) last posted its earnings results on Thursday, October 29th. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.51 by $0.01. Altria Group had a negative return on equity of 330.66% and a net margin of 34.51%. The firm had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.31 billion. During the same period last year, the company earned $1.45 earnings per share. Altria Group’s revenue for the quarter was up 1.0% compared to the same quarter last year. Research analysts expect that Altria Group will post 5.69 earnings per share for the current year.

Altria Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Tuesday, September 15th were paid a $1.11 dividend. This represents a $4.44 annualized dividend and a dividend yield of 5.7%. This is a positive change from Altria Group’s previous quarterly dividend of $1.06. The ex-dividend date was Tuesday, September 15th. Altria Group’s payout ratio is presently 91.74%.

Insider Buying and Selling at Altria Group

In related news, Director Kathryn McQuade bought 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The stock was purchased at an average cost of $67.62 per share, for a total transaction of $101,430.00. Following the completion of the acquisition, the director owned 114,929 shares in the company, valued at approximately $7,771,498.98. This trade represents a 1.32% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Altria Group

Several large investors have recently bought and sold shares of MO. Pathway Financial Advisers LLC acquired a new position in shares of Altria Group during the 3rd quarter worth about $173,000. Bfsg LLC lifted its stake in Altria Group by 14.3% during the third quarter. Bfsg LLC now owns 1,793 shares of the company’s stock worth $121,000 after purchasing an additional 224 shares during the last quarter. Chicago Partners Investment Group LLC lifted its stake in Altria Group by 114.7% during the third quarter. Chicago Partners Investment Group LLC now owns 40,640 shares of the company’s stock worth $3,020,000 after purchasing an additional 21,714 shares during the last quarter. Optimist Retirement Group LLC increased its stake in Altria Group by 2.5% in the third quarter. Optimist Retirement Group LLC now owns 35,912 shares of the company’s stock valued at $2,418,000 after purchasing an additional 862 shares during the last quarter. Finally, 3Chopt Investment Partners LLC increased its stake in Altria Group by 4.0% in the third quarter. 3Chopt Investment Partners LLC now owns 74,486 shares of the company’s stock valued at $5,098,000 after purchasing an additional 2,836 shares during the last quarter. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Company Profile

Altria Group, Inc is a U.S.-based consumer products company focused primarily on tobacco, nicotine and related products. Through its operating companies, Altria sells cigarettes, cigars, pipe tobacco, oral tobacco and nicotine products, and electronic vapor products.

Altria’s principal cigarette business is Philip Morris USA, whose portfolio includes Marlboro, Parliament and Virginia Slims. Its other major brands include Copenhagen and Skoal moist smokeless tobacco, Black & Mild cigars, on! nicotine pouches and NJOY electronic cigarettes.