Traders Buy Altria Group (MO) on Weakness
Traders bought shares of Altria Group (NYSE:MO) on weakness during trading hours on Monday. $90.35 million flowed into the stock on the tick-up and $55.94 million flowed out of the stock on the tick-down, for a money net flow of $34.41 million into the stock. Of all stocks tracked, Altria Group had the 7th highest net in-flow for the day. Altria Group traded down ($0.24) for the day and closed at $69.17
MO has been the topic of several recent analyst reports. Bank of America Corp. downgraded Altria Group from a “buy” rating to a “neutral” rating and increased their price target for the stock from $61.41 to $66.00 in a report on Thursday, March 24th. They noted that the move was a valuation call. Vetr upgraded Altria Group from a “hold” rating to a “buy” rating and set a $63.92 price target on the stock in a report on Monday, March 28th. Cowen and Company increased their price target on Altria Group from $65.00 to $67.00 and gave the stock a “market perform” rating in a report on Tuesday, March 29th. Wells Fargo & Co. reiterated a “buy” rating on shares of Altria Group in a report on Monday, March 28th. Finally, Zacks Investment Research upgraded Altria Group from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a report on Monday, April 4th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $68.19.
The company has a market cap of $135.30 billion and a price-to-earnings ratio of 24.96. The stock’s 50-day moving average price is $67.04 and its 200 day moving average price is $62.87.
Altria Group (NYSE:MO) last issued its earnings results on Thursday, April 28th. The company reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.04. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The company had revenue of $3.92 billion for the quarter, compared to analyst estimates of $4.41 billion. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts anticipate that Altria Group will post $3.06 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 11th. Investors of record on Wednesday, June 15th were issued a $0.565 dividend. This represents a $2.26 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend was Monday, June 13th.
In related news, CEO Brian W. Quigley sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $63.66, for a total value of $190,980.00. Following the transaction, the chief executive officer now directly owns 23,246 shares in the company, valued at $1,479,840.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Nabil Y. Sakkab acquired 4,000 shares of the firm’s stock in a transaction that occurred on Friday, May 20th. The stock was acquired at an average price of $63.20 per share, for a total transaction of $252,800.00. Following the completion of the acquisition, the director now directly owns 31,630 shares of the company’s stock, valued at approximately $1,999,016. The disclosure for this purchase can be found here.
A number of hedge funds and institutional investors have added to or reduced their stakes in MO. KBC Group NV boosted its position in Altria Group by 3.9% in the fourth quarter. KBC Group NV now owns 335,331 shares of the company’s stock worth $19,520,000 after buying an additional 12,723 shares in the last quarter. Employees Retirement System of Texas boosted its position in Altria Group by 6.5% in the fourth quarter. Employees Retirement System of Texas now owns 991,800 shares of the company’s stock worth $57,733,000 after buying an additional 60,900 shares in the last quarter. TrimTabs Asset Management LLC boosted its position in Altria Group by 1.9% in the fourth quarter. TrimTabs Asset Management LLC now owns 42,737 shares of the company’s stock worth $2,488,000 after buying an additional 795 shares in the last quarter. Morningstar Investment Services LLC boosted its position in Altria Group by 7.4% in the fourth quarter. Morningstar Investment Services LLC now owns 714,923 shares of the company’s stock worth $41,616,000 after buying an additional 49,065 shares in the last quarter. Finally, Affinity Investment Advisors LLC boosted its position in Altria Group by 1.9% in the fourth quarter. Affinity Investment Advisors LLC now owns 341,310 shares of the company’s stock worth $19,868,000 after buying an additional 6,341 shares in the last quarter.
Altria Group, Inc is a holding company. 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 large cigars and pipe tobacco, and UST LLC (UST), which through its subsidiaries, including U.S.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.