Altria Group (NYSE:MO) Price Target Raised to $83.00

Altria Group (NYSE:MO) had its target price raised by UBS Group from $79.00 to $83.00 in a report released on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts also recently issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Altria Group in a research note on Monday, October 12th. Citigroup lifted their price target on shares of Altria Group from $70.00 to $72.00 and gave the company a “neutral” rating in a research report on Friday. Freedom Broker raised shares of Altria Group to a “hold” rating in a research note on Wednesday, September 16th. BTIG Research initiated coverage on Altria Group in a research note on Tuesday, July 21st. They issued a “neutral” rating for the company. Finally, Morgan Stanley upped their price target on Altria Group from $71.00 to $77.00 and gave the stock an “equal weight” rating in a report on Friday. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $71.44.

Altria Group Stock Performance

Shares of NYSE MO opened at $78.03 on Friday. The company’s 50-day moving average price is $70.45 and its 200 day moving average price is $68.75. Altria Group has a 52 week low of $54.70 and a 52 week high of $79.81. The stock has a market cap of $129.80 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 2.69 and a beta of 0.43.

Altria Group (NYSE:MO) last announced its earnings results on Thursday, October 29th. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.01. The company had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.31 billion. Altria Group had a net margin of 34.51% and a negative return on equity of 330.66%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.45 earnings per share. As a group, research analysts expect that Altria Group will post 5.69 earnings per share for the current year.

Altria Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Tuesday, September 15th were paid a dividend of $1.11 per share. This is a boost from Altria Group’s previous quarterly dividend of $1.06. This represents a $4.44 annualized dividend and a dividend yield of 5.7%. The ex-dividend date was Tuesday, September 15th. Altria Group’s payout ratio is 91.74%.

Insider Activity

In other Altria Group news, Director Kathryn McQuade bought 1,500 shares of the company’s stock in a transaction dated Wednesday, September 9th. The shares were acquired at an average cost of $67.62 per share, with a total value of $101,430.00. Following the completion of the transaction, the director owned 114,929 shares in the company, valued at $7,771,498.98. The trade was a 1.32% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Altria Group

Several hedge funds and other institutional investors have recently bought and sold shares of MO. Pathway Financial Advisers LLC acquired a new stake in Altria Group in the third quarter valued at $173,000. Bfsg LLC raised its stake in shares of Altria Group by 14.3% in the 3rd quarter. Bfsg LLC now owns 1,793 shares of the company’s stock valued at $121,000 after purchasing an additional 224 shares in the last quarter. Chicago Partners Investment Group LLC raised its stake in shares of Altria Group by 114.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 40,640 shares of the company’s stock valued at $3,020,000 after purchasing an additional 21,714 shares in the last quarter. Optimist Retirement Group LLC lifted its position in shares of Altria Group by 2.5% during the third quarter. Optimist Retirement Group LLC now owns 35,912 shares of the company’s stock worth $2,418,000 after purchasing an additional 862 shares during the last quarter. Finally, 3Chopt Investment Partners LLC grew its stake in Altria Group by 4.0% in the third quarter. 3Chopt Investment Partners LLC now owns 74,486 shares of the company’s stock worth $5,098,000 after purchasing an additional 2,836 shares in the last quarter. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

About Altria Group

Altria Group, Inc is a U.S.-based consumer products company focused primarily on tobacco, nicotine and related products. Through its operating companies, Altria sells cigarettes, cigars, pipe tobacco, oral tobacco and nicotine products, and electronic vapor products.

Altria’s principal cigarette business is Philip Morris USA, whose portfolio includes Marlboro, Parliament and Virginia Slims. Its other major brands include Copenhagen and Skoal moist smokeless tobacco, Black & Mild cigars, on! nicotine pouches and NJOY electronic cigarettes.