Bank of America Increases Altria Group (NYSE:MO) Price Target to $73.00

Altria Group (NYSE:MO) had its price target upped by research analysts at Bank of America from $72.00 to $73.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s target price suggests a potential upside of 8.43% from the company’s current price.

A number of other analysts have also recently commented on the company. Citigroup upped their price target on Altria Group from $57.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Stifel Nicolaus lowered their price target on Altria Group from $72.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Barclays upped their price target on Altria Group from $57.00 to $63.00 and gave the company an “underweight” rating in a research note on Monday, February 23rd. Jefferies Financial Group upped their price target on Altria Group from $47.00 to $50.00 and gave the company an “underperform” rating in a research note on Wednesday, March 4th. Finally, UBS Group upped their price target on Altria Group from $67.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $65.88.

Altria Group Trading Down 0.2%

Shares of NYSE:MO opened at $67.32 on Friday. The stock has a market capitalization of $112.52 billion, a P/E ratio of 16.38, a P/E/G ratio of 2.88 and a beta of 0.41. Altria Group has a 1-year low of $54.70 and a 1-year high of $70.51. The business has a 50-day moving average price of $66.51 and a two-hundred day moving average price of $62.60.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, January 29th. The company reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.02). The firm had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $5.02 billion. Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.30 earnings per share. As a group, equities analysts predict that Altria Group will post 5.32 EPS for the current year.

Insider Activity

In related news, SVP Charles N. Whitaker sold 27,908 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $67.57, for a total value of $1,885,743.56. Following the completion of the transaction, the senior vice president directly owned 180,869 shares in the company, valued at approximately $12,221,318.33. The trade was a 13.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On Altria Group

Institutional investors and hedge funds have recently modified their holdings of the business. Darwin Wealth Management LLC acquired a new position in shares of Altria Group in the 2nd quarter valued at approximately $27,000. Navalign LLC acquired a new position in shares of Altria Group in the 4th quarter valued at approximately $28,000. Creative Capital Management Investments LLC acquired a new position in shares of Altria Group in the 4th quarter valued at approximately $29,000. Hughes Financial Services LLC grew its position in shares of Altria Group by 62.9% in the 4th quarter. Hughes Financial Services LLC now owns 510 shares of the company’s stock valued at $29,000 after purchasing an additional 197 shares during the period. Finally, Miller Capital Partners Inc. acquired a new position in shares of Altria Group in the 4th quarter valued at approximately $29,000. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Altria Group Company Profile

Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.