Altria Group (MO) PT Lowered to $75.00
Altria Group (NYSE:MO) had its price objective dropped by research analysts at Citigroup Inc. from $80.00 to $75.00 in a research note issued on Monday. The firm currently has a “buy” rating on the stock. Citigroup Inc.’s target price would indicate a potential upside of 17.10% from the company’s previous close.
Other equities analysts have also issued reports about the stock. Vetr lowered shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.89 target price for the company. in a research note on Monday. UBS AG reduced their target price on shares of Altria Group from $72.00 to $68.00 and set a “neutral” rating for the company in a research note on Friday. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $76.00 target price on shares of Altria Group in a research note on Friday. Zacks Investment Research lowered shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $62.00 target price on shares of Altria Group in a research note on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $71.93.
Shares of Altria Group (NYSE MO) traded down 1.34% during mid-day trading on Monday, hitting $64.05. The stock had a trading volume of 6,839,435 shares. The stock has a market capitalization of $123.49 billion, a price-to-earnings ratio of 8.45 and a beta of 0.64. The stock’s 50-day moving average price is $63.67 and its 200-day moving average price is $69.04. Altria Group has a 12-month low of $60.01 and a 12-month high of $77.79.
Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, October 26th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. Altria Group had a net margin of 60.37% and a return on equity of 49.43%. The company had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the previous year, the business earned $0.82 EPS. The firm’s revenue was down 1.8% on a year-over-year basis. On average, equities analysts anticipate that Altria Group will post $3.28 EPS for the current fiscal year.
Altria Group announced that its Board of Directors has initiated a share buyback plan on Thursday, July 27th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 0.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
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In other news, CEO Martin J. Barrington sold 15,300 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $65.03, for a total value of $994,959.00. Following the sale, 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. Also, Director Dinyar S. Devitre sold 32,000 shares of the company’s stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $61.22, for a total transaction of $1,959,040.00. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. Cadinha & Co. LLC raised its holdings in shares of Altria Group by 34.8% in the 2nd quarter. Cadinha & Co. LLC now owns 9,301 shares of the company’s stock valued at $693,000 after purchasing an additional 2,401 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its holdings in shares of Altria Group by 164.9% in the 2nd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 244,398 shares of the company’s stock valued at $18,149,000 after purchasing an additional 152,121 shares during the period. Westwood Holdings Group Inc. raised its holdings in shares of Altria Group by 10.3% in the 1st quarter. Westwood Holdings Group Inc. now owns 155,121 shares of the company’s stock valued at $11,079,000 after purchasing an additional 14,444 shares during the period. Teacher Retirement System of Texas raised its holdings in shares of Altria Group by 4.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 1,763,350 shares of the company’s stock valued at $131,317,000 after purchasing an additional 76,988 shares during the period. Finally, Rhumbline Advisers raised its holdings in shares of Altria Group by 0.6% in the 2nd quarter. Rhumbline Advisers now owns 2,870,318 shares of the company’s stock valued at $213,753,000 after purchasing an additional 17,006 shares during the period. 61.92% 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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