Analysts Set Altria Group, Inc. (NYSE:MO) Target Price at $49.67

Shares of Altria Group, Inc. (NYSE:MO) have been assigned an average recommendation of “Hold” from the seven analysts that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $49.67.

A number of brokerages have issued reports on MO. UBS Group lifted their price target on shares of Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a report on Monday, September 9th. Argus upgraded shares of Altria Group to a “hold” rating in a research report on Friday, May 31st. Barclays upped their target price on shares of Altria Group from $43.00 to $45.00 and gave the company an “underweight” rating in a research report on Monday, September 9th. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a research report on Friday, June 28th. Finally, Stifel Nicolaus upped their target price 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.

Hedge Funds Weigh In On Altria Group

Hedge funds have recently added to or reduced their stakes in the stock. Maryland Capital Advisors Inc. grew its stake in Altria Group by 154.4% in the 1st quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock worth $25,000 after acquiring an additional 349 shares in the last quarter. BNP Paribas bought a new position in shares of Altria Group during the first quarter valued at approximately $27,000. MFA Wealth Advisors LLC bought a new position in shares of Altria Group during the second quarter valued at approximately $27,000. Pineridge Advisors LLC bought a new position in shares of Altria Group during the fourth quarter valued at approximately $28,000. Finally, Westend Capital Management LLC bought a new position in shares of Altria Group during the first quarter valued at approximately $29,000. 57.41% of the stock is currently owned by institutional investors.

Altria Group Stock Performance

Shares of NYSE MO opened at $50.55 on Thursday. The company has a market cap of $86.83 billion, a P/E ratio of 10.58, a P/E/G ratio of 3.07 and a beta of 0.65. The firm’s fifty day moving average is $51.15 and its two-hundred day moving average is $46.67. Altria Group has a 52-week low of $39.06 and a 52-week high of $54.95.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). The company had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $5.39 billion. Altria Group had a net margin of 42.25% and a negative return on equity of 232.55%. The business’s revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.31 earnings per share. As a group, analysts forecast that Altria Group will post 5.11 EPS for the current fiscal year.

Altria Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Monday, September 16th will be paid a $1.02 dividend. This is an increase from Altria Group’s previous quarterly dividend of $0.98. This represents a $4.08 dividend on an annualized basis and a yield of 8.07%. The ex-dividend date of this dividend is Monday, September 16th. Altria Group’s dividend payout ratio is currently 85.36%.

Altria Group Company Profile

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.