Traders Buy Altria Group (MO) on Weakness
Investors bought shares of Altria Group (NYSE:MO) on weakness during trading on Monday. $99.45 million flowed into the stock on the tick-up and $44.84 million flowed out of the stock on the tick-down, for a money net flow of $54.61 million into the stock. Of all companies tracked, Altria Group had the 5th highest net in-flow for the day. Altria Group traded down ($0.05) for the day and closed at $67.65
Several equities analysts have weighed in on the company. Vetr raised Altria Group from a “buy” rating to a “strong-buy” rating and set a $72.13 target price on the stock in a research note on Wednesday, May 25th. Zacks Investment Research raised Altria Group from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Monday, April 4th. Argus set a $73.00 target price on Altria Group and gave the company a “buy” rating in a research note on Monday. Bank of America Corp. reaffirmed a “neutral” rating and set a $66.00 target price on shares of Altria Group in a research note on Tuesday, May 17th. Finally, Goldman Sachs Group Inc. reaffirmed a “hold” rating and set a $63.00 target price on shares of Altria Group in a research note on Thursday, April 14th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Altria Group has an average rating of “Buy” and a consensus target price of $68.98.
The firm has a market capitalization of $132.19 billion and a P/E ratio of 23.49. The company has a 50-day moving average price of $67.87 and a 200 day moving average price of $63.54.
Altria Group (NYSE:MO) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.81 EPS for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.01. During the same period in the prior year, the business earned $0.74 EPS. The business had revenue of $6.52 billion for the quarter, compared to analyst estimates of $5.01 billion. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. Equities research analysts anticipate that Altria Group will post $3.06 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 11th. Stockholders of record on Wednesday, June 15th were given a dividend of $0.565 per share. This represents a $2.26 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date was Monday, June 13th.
In related news, CEO Brian W. Quigley sold 3,000 shares of the stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $63.66, for a total transaction of $190,980.00. Following the completion of 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 filing with the SEC, which can be accessed through this link. Also, Director Nabil Y. Sakkab acquired 4,000 shares of the firm’s stock in a transaction that occurred on Friday, May 20th. The shares were purchased at an average price of $63.20 per share, with a total value of $252,800.00. Following the completion of the acquisition, the director now 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 recently bought and sold shares of MO. Burney Co. increased its position in Altria Group by 6.6% in the fourth quarter. Burney Co. now owns 17,989 shares of the company’s stock worth $1,048,000 after buying an additional 1,108 shares in the last quarter. Columbia Asset Management increased its position in Altria Group by 9.1% in the fourth quarter. Columbia Asset Management now owns 18,016 shares of the company’s stock worth $1,048,000 after buying an additional 1,499 shares in the last quarter. Carleon Capital Partners LLC bought a new position in Altria Group during the fourth quarter worth $1,054,000. TCI Wealth Advisors Inc. increased its position in Altria Group by 0.9% in the fourth quarter. TCI Wealth Advisors Inc. now owns 18,469 shares of the company’s stock worth $1,075,000 after buying an additional 156 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. bought a new position in Altria Group during the fourth quarter worth $1,160,000.
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.