Morgan Stanley Reiterates Equal Weight Rating for Altria Group (MO)
Altria Group (NYSE:MO)‘s stock had its “equal weight” rating reissued by equities researchers at Morgan Stanley in a research note issued on Tuesday. They currently have a $65.00 price objective on the stock. Morgan Stanley’s price objective would suggest a potential upside of 1.67% from the stock’s previous close.
A number of other analysts have also commented on the stock. Zacks Investment Research lowered shares of Altria Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Vetr downgraded shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $72.40 target price on the stock. in a report on Monday, August 15th. Citigroup Inc. restated a “buy” rating and set a $72.00 target price on shares of Altria Group in a report on Monday, September 26th. Finally, Jefferies Group restated a “hold” rating and set a $68.00 target price on shares of Altria Group in a report on Wednesday, November 16th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $69.46.
Altria Group (NYSE:MO) opened at 63.93 on Tuesday. The company has a market capitalization of $124.79 billion, a P/E ratio of 24.03 and a beta of 0.57. Altria Group has a 12-month low of $56.15 and a 12-month high of $70.15. The stock’s 50 day moving average is $63.74 and its 200-day moving average is $65.27.
Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, October 27th. The company reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.01. The business had revenue of $6.90 billion for the quarter, compared to analyst estimates of $5.11 billion. Altria Group had a net margin of 20.19% and a return on equity of 202.19%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 earnings per share. On average, equities analysts predict that Altria Group will post $3.03 earnings per share for the current fiscal year.
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In related news, CEO Martin J. Barrington sold 15,960 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly 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 is available at this hyperlink. 0.15% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in MO. Integrated Wealth Counsel LLC boosted its stake in Altria Group by 1,500.0% in the third quarter. Integrated Wealth Counsel LLC now owns 1,600 shares of the company’s stock valued at $101,000 after buying an additional 1,500 shares in the last quarter. First PREMIER Bank purchased a new stake in Altria Group during the second quarter valued at $103,000. First Personal Financial Services boosted its stake in Altria Group by 66.3% in the second quarter. First Personal Financial Services now owns 1,603 shares of the company’s stock valued at $111,000 after buying an additional 639 shares in the last quarter. Timber Creek Capital Management LLC purchased a new stake in Altria Group during the third quarter valued at $113,000. Finally, Tortoise Investment Management LLC boosted its stake in Altria Group by 26.6% in the second quarter. Tortoise Investment Management LLC now owns 1,654 shares of the company’s stock valued at $114,000 after buying an additional 348 shares in the last quarter. Institutional investors and hedge funds own 60.04% of the company’s stock.
Altria Group Company Profile
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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