Altria Group, Inc. (NYSE:MO) Receives $56.00 Consensus Target Price from Brokerages

Altria Group, Inc. (NYSE:MO) has been given an average rating of “Hold” by the eight research firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $56.00.

Several brokerages have weighed in on MO. Wall Street Zen cut Altria Group from a “buy” rating to a “hold” rating in a research note on Thursday, May 1st. Barclays lifted their target price on Altria Group from $46.00 to $49.00 and gave the stock an “underweight” rating in a research note on Friday, May 2nd. Needham & Company LLC upgraded Altria Group to a “hold” rating in a research note on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft set a $60.00 target price on Altria Group in a research note on Tuesday, April 1st. Finally, Stifel Nicolaus lifted their target price on Altria Group from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th.

Altria Group Trading Up 0.7%

Shares of NYSE:MO opened at $59.41 on Friday. The stock’s fifty day simple moving average is $58.92 and its two-hundred day simple moving average is $56.14. Altria Group has a 1-year low of $44.53 and a 1-year high of $61.26. The stock has a market cap of $100.07 billion, a PE ratio of 9.95, a price-to-earnings-growth ratio of 3.44 and a beta of 0.60.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.04. Altria Group had a negative return on equity of 295.44% and a net margin of 43.09%. The business had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same period last year, the business earned $1.15 EPS. The business’s revenue was down 4.2% on a year-over-year basis. On average, sell-side analysts forecast that Altria Group will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Monday, June 16th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 6.87%. The ex-dividend date of this dividend is Monday, June 16th. Altria Group’s dividend payout ratio (DPR) is currently 68.34%.

Institutional Investors Weigh In On Altria Group

Several large investors have recently added to or reduced their stakes in MO. Jacobi Capital Management LLC boosted its position in shares of Altria Group by 0.6% during the 1st quarter. Jacobi Capital Management LLC now owns 26,335 shares of the company’s stock valued at $1,581,000 after acquiring an additional 168 shares during the last quarter. Vista Investment Partners II LLC lifted its position in Altria Group by 4.2% in the 1st quarter. Vista Investment Partners II LLC now owns 4,302 shares of the company’s stock worth $258,000 after buying an additional 174 shares during the last quarter. Wealth Alliance LLC lifted its position in Altria Group by 1.9% in the 1st quarter. Wealth Alliance LLC now owns 9,452 shares of the company’s stock worth $567,000 after buying an additional 174 shares during the last quarter. Patten & Patten Inc. TN lifted its position in Altria Group by 1.5% in the 1st quarter. Patten & Patten Inc. TN now owns 12,049 shares of the company’s stock worth $723,000 after buying an additional 174 shares during the last quarter. Finally, Baron Silver Stevens Financial Advisors LLC lifted its position in Altria Group by 2.7% in the 1st quarter. Baron Silver Stevens Financial Advisors LLC now owns 6,762 shares of the company’s stock worth $406,000 after buying an additional 175 shares during the last quarter. Hedge funds and other institutional investors 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.