Altria Group (NYSE:MO) PT Raised to $53.00

Altria Group (NYSE:MOGet Rating) had its price target lifted by Cowen from $51.00 to $53.00 in a research note issued to investors on Thursday, The Fly reports.

MO has been the subject of several other research reports. Bank of America cut shares of Altria Group from a buy rating to a neutral rating and cut their price objective for the stock from $56.00 to $50.00 in a research report on Wednesday, January 5th. The Goldman Sachs Group raised shares of Altria Group from a neutral rating to a buy rating and upped their price objective for the stock from $48.00 to $57.00 in a research report on Tuesday, March 22nd. Royal Bank of Canada cut shares of Altria Group from an outperform rating to a sector perform rating and set a $53.00 price objective for the company. in a research report on Monday, March 28th. Morgan Stanley upped their price objective on shares of Altria Group from $47.00 to $51.00 and gave the stock an equal weight rating in a research report on Wednesday, January 26th. Finally, StockNews.com initiated coverage on shares of Altria Group in a research report on Thursday, March 31st. They set a buy rating for the company. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $53.38.

Shares of Altria Group stock opened at $54.11 on Thursday. The firm has a 50-day moving average of $51.67 and a 200-day moving average of $48.56. The stock has a market cap of $98.33 billion, a PE ratio of 40.68, a PEG ratio of 2.80 and a beta of 0.59. Altria Group has a 52-week low of $42.53 and a 52-week high of $54.37.

Altria Group (NYSE:MOGet Rating) last announced its earnings results on Thursday, January 27th. The company reported $1.09 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.09. The company had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $5 billion. Altria Group had a net margin of 9.51% and a return on equity of 1,009.13%. Altria Group’s quarterly revenue was up 23.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.99 earnings per share. Equities analysts anticipate that Altria Group will post 4.84 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 29th. Shareholders of record on Friday, March 25th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 6.65%. The ex-dividend date is Thursday, March 24th. Altria Group’s payout ratio is 270.68%.

Several institutional investors have recently added to or reduced their stakes in the company. Sierra Capital LLC boosted its holdings in Altria Group by 12.6% in the fourth quarter. Sierra Capital LLC now owns 1,788 shares of the company’s stock worth $85,000 after acquiring an additional 200 shares in the last quarter. Affinity Capital Advisors LLC lifted its holdings in shares of Altria Group by 4.1% during the fourth quarter. Affinity Capital Advisors LLC now owns 5,192 shares of the company’s stock valued at $246,000 after purchasing an additional 203 shares in the last quarter. Klingenstein Fields & Co. LP lifted its holdings in shares of Altria Group by 0.8% during the fourth quarter. Klingenstein Fields & Co. LP now owns 25,449 shares of the company’s stock valued at $1,206,000 after purchasing an additional 206 shares in the last quarter. Wealth Architects LLC lifted its holdings in shares of Altria Group by 1.9% during the fourth quarter. Wealth Architects LLC now owns 10,883 shares of the company’s stock valued at $516,000 after purchasing an additional 208 shares in the last quarter. Finally, Dixon Hughes Goodman Wealth Advisors LLC lifted its holdings in shares of Altria Group by 18.7% during the first quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 1,362 shares of the company’s stock valued at $71,000 after purchasing an additional 215 shares in the last quarter. 59.01% of the stock is owned by institutional investors.

About Altria Group (Get Rating)

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company provides cigarettes primarily under the Marlboro brand; cigars and pipe tobacco principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands, as well as provides on! oral nicotine pouches.

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