Altria Group’s (MO) “Equal Weight” Rating Reaffirmed at Morgan Stanley
Altria Group (NYSE:MO)‘s stock had its “equal weight” rating restated by analysts at Morgan Stanley in a report issued on Tuesday. They currently have a $65.00 price target on the stock. Morgan Stanley’s target price would suggest a potential upside of 1.67% from the company’s previous close.
A number of other brokerages also recently weighed in on MO. Argus set a $73.00 target price on shares of Altria Group and gave the stock a “buy” rating in a research note on Monday, August 1st. Vetr downgraded shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $75.77 target price for the company. in a research note on Monday, August 1st. Zacks Investment Research downgraded shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. Finally, Citigroup Inc. initiated coverage on shares of Altria Group in a research note on Monday, September 12th. They issued a “buy” rating and a $72.00 target price for the company. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Altria Group has a consensus rating of “Buy” and a consensus target price of $69.46.
Shares of Altria Group (NYSE:MO) traded down 1.92% during midday trading on Tuesday, hitting $63.93. 9,381,315 shares of the company traded hands. Altria Group has a 12-month low of $56.15 and a 12-month high of $70.15. The stock has a market capitalization of $124.79 billion, a P/E ratio of 24.03 and a beta of 0.57. The stock’s 50-day moving average is $63.69 and its 200 day moving average is $65.27.
Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, October 27th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.01. Altria Group had a net margin of 20.19% and a return on equity of 202.19%. The firm earned $6.90 billion during the quarter, compared to the consensus estimate of $5.11 billion. During the same period last year, the firm posted $0.75 EPS. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. On average, analysts expect that Altria Group will post $3.03 earnings per share for the current year.
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In other news, CEO Martin J. Barrington sold 15,960 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $65.85, for a total value of $1,050,966.00. Following the completion of the transaction, the chief executive officer now owns 833,577 shares in the company, valued at $54,891,045.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.15% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Integrated Wealth Counsel LLC raised its stake in shares of Altria Group by 1,500.0% in the third quarter. Integrated Wealth Counsel LLC now owns 1,600 shares of the company’s stock worth $101,000 after buying an additional 1,500 shares in the last quarter. First PREMIER Bank acquired a new stake in shares of Altria Group during the second quarter worth approximately $103,000. First Personal Financial Services raised its stake in shares of Altria Group by 66.3% in the second quarter. First Personal Financial Services now owns 1,603 shares of the company’s stock worth $111,000 after buying an additional 639 shares in the last quarter. Timber Creek Capital Management LLC acquired a new stake in shares of Altria Group during the third quarter worth approximately $113,000. Finally, Tortoise Investment Management LLC raised its stake in shares of Altria Group by 26.6% in the second quarter. Tortoise Investment Management LLC now owns 1,654 shares of the company’s stock worth $114,000 after buying an additional 348 shares in the last quarter. Institutional investors own 60.04% of the company’s stock.
About Altria Group
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.
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