Altria Group Inc (MO) Upgraded by Vetr Inc. to “Strong-Buy”
Altria Group Inc (NYSE:MO) was upgraded by Vetr from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Wednesday. The firm presently has a $69.00 target price on the stock. Vetr‘s target price suggests a potential upside of 10.42% from the company’s current price.
Several other equities research analysts have also issued reports on the stock. BidaskClub lowered shares of Altria Group from a “sell” rating to a “strong sell” rating in a research note on Friday, August 25th. Wells Fargo & Company reiterated an “outperform” rating and issued a $80.00 price objective on shares of Altria Group in a research note on Monday, July 31st. Zacks Investment Research lowered shares of Altria Group from a “hold” rating to a “sell” rating in a research note on Tuesday, May 23rd. Royal Bank Of Canada reiterated a “sell” rating and issued a $62.00 price objective on shares of Altria Group in a research note on Friday, May 26th. Finally, Cowen and Company reiterated a “hold” rating on shares of Altria Group in a research note on Sunday, September 10th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $72.07.
Shares of Altria Group (NYSE:MO) traded up 1.61% during midday trading on Wednesday, hitting $62.49. The company had a trading volume of 8,550,108 shares. Altria Group has a 12-month low of $60.01 and a 12-month high of $77.79. The company’s 50-day moving average price is $63.95 and its 200 day moving average price is $70.99. The company has a market capitalization of $120.48 billion, a price-to-earnings ratio of 8.24 and a beta of 0.63.
Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.01). Altria Group had a return on equity of 64.56% and a net margin of 29.87%. The company had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same quarter in the previous year, the business earned $0.81 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. Equities research analysts predict that Altria Group will post $3.26 earnings per share for the current fiscal year.
Altria Group declared that its Board of Directors has approved a stock buyback plan on Thursday, July 27th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 0.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
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In other Altria Group news, CEO Martin J. Barrington sold 15,300 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $65.03, for a total value of $994,959.00. Following the completion of the transaction, the chief executive officer now directly 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 SEC, which can be accessed through the SEC website. 0.11% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of MO. Sterling Investment Advisors Ltd. lifted its holdings in shares of 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 acquiring an additional 800 shares during the last quarter. Solaris Asset Management LLC lifted its holdings in shares of 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 acquiring an additional 557 shares during the last quarter. CKW Financial Group bought a new stake in shares of Altria Group during the 2nd quarter worth $109,000. Balentine LLC lifted its holdings in shares of 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 acquiring an additional 357 shares during the last quarter. Finally, Perigon Wealth Management LLC lifted its holdings in shares of Altria Group by 4.7% during the 1st quarter. Perigon Wealth Management LLC now owns 1,641 shares of the company’s stock worth $118,000 after acquiring an additional 74 shares during the last quarter. 61.85% of the stock is 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.
To view Vetr’s full report, visit Vetr’s official website.
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