UBS Group Raises Altria Group (NYSE:MO) Price Target to $41.00

Altria Group (NYSE:MO) had its target price increased by UBS Group from $39.00 to $41.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has a sell rating on the stock.

MO has been the subject of a number of other research reports. StockNews.com raised Altria Group from a hold rating to a buy rating in a research report on Friday, June 28th. Argus upgraded Altria Group to a hold rating in a report on Friday, May 31st. Bank of America increased their price objective on Altria Group from $52.00 to $57.00 and gave the stock a neutral rating in a report on Wednesday, September 4th. Stifel Nicolaus raised their price objective on shares of Altria Group from $50.00 to $54.00 and gave the company a buy rating in a research report on Thursday, August 1st. Finally, Barclays boosted their target price on shares of Altria Group from $43.00 to $45.00 and gave the stock an underweight rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Altria Group presently has an average rating of Hold and a consensus price target of $49.67.

Altria Group Price Performance

Shares of MO opened at $53.15 on Monday. The business’s 50-day moving average is $50.62 and its 200-day moving average is $46.29. The company has a market capitalization of $91.29 billion, a price-to-earnings ratio of 11.12, a P/E/G ratio of 3.10 and a beta of 0.65. Altria Group has a fifty-two week low of $39.06 and a fifty-two week high of $54.95.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). Altria Group had a net margin of 42.25% and a negative return on equity of 232.55%. The company had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same period in the previous year, the firm posted $1.31 earnings per share. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. Equities research analysts expect that Altria Group will post 5.1 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Monday, September 16th will be given a $1.02 dividend. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. The ex-dividend date is Monday, September 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.68%. Altria Group’s dividend payout ratio (DPR) is currently 85.36%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Maryland Capital Advisors Inc. lifted its position in shares of Altria Group by 154.4% during the 1st quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock worth $25,000 after purchasing an additional 349 shares during the last quarter. BNP Paribas acquired a new position in shares of Altria Group during the first quarter worth approximately $27,000. MFA Wealth Advisors LLC acquired a new stake in shares of Altria Group in the second quarter worth $27,000. Pineridge Advisors LLC acquired a new stake in shares of Altria Group in the fourth quarter worth $28,000. Finally, Westend Capital Management LLC bought a new position in Altria Group during the first quarter worth $29,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

About Altria Group

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.