Altria Group (NYSE:MO) Sets New 1-Year High After Analyst Upgrade

Key Points

• Altria Group's stock reached a new 52-week high of $63.20 after Barclays raised their price target from $49 to $57, although the bank maintains an underweight rating on the stock.
• The company's quarterly earnings topped analysts' expectations, with an EPS of $1.44 compared to the estimated $1.37, and a revenue of $5.29 billion, slightly above the consensus estimate of $5.21 billion.
• An attractive quarterly dividend of $1.02 per share was declared, representing an annualized yield of 6.4% with a payout ratio of 78.92%.

Altria Group, Inc. (NYSE:MO - Get Free Report)'s stock price hit a new 52-week high on Wednesday after Barclays raised their price target on the stock from $49.00 to $57.00. Barclays currently has an underweight rating on the stock. Altria Group traded as high as $62.98 and last traded at $63.20, with a volume of 644291 shares changing hands. The stock had previously closed at $62.52.

Other equities research analysts have also recently issued research reports about the company. Needham & Company LLC upgraded Altria Group to a "hold" rating in a research note on Thursday, May 22nd. UBS Group upgraded Altria Group from a "sell" rating to a "neutral" rating and upped their price target for the stock from $47.00 to $59.00 in a research note on Wednesday, July 2nd. Stifel Nicolaus upped their target price on Altria Group from $63.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Jefferies Financial Group initiated coverage on Altria Group in a research note on Wednesday, July 9th. They set an "underperform" rating and a $50.00 price objective on the stock. Finally, Citigroup increased their target price on Altria Group from $52.00 to $55.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Altria Group has a consensus rating of "Hold" and a consensus price target of $59.13.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MO. Commonwealth Equity Services LLC lifted its position in shares of Altria Group by 6.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 1,596,710 shares of the company's stock worth $93,615,000 after purchasing an additional 99,138 shares during the last quarter. HORAN Wealth LLC bought a new stake in shares of Altria Group in the 2nd quarter valued at approximately $230,000. SouthState Corp lifted its stake in shares of Altria Group by 2.2% in the 2nd quarter. SouthState Corp now owns 38,090 shares of the company's stock valued at $2,233,000 after purchasing an additional 811 shares during the period. Resona Asset Management Co. Ltd. lifted its stake in shares of Altria Group by 4.9% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 550,550 shares of the company's stock valued at $32,289,000 after purchasing an additional 25,556 shares during the period. Finally, Atlantic Union Bankshares Corp lifted its stake in shares of Altria Group by 15.5% in the 2nd quarter. Atlantic Union Bankshares Corp now owns 117,808 shares of the company's stock valued at $6,907,000 after purchasing an additional 15,801 shares during the period. Hedge funds and other institutional investors own 57.41% of the company's stock.

Altria Group Trading Up 1.7%

The company has a market cap of $106.83 billion, a price-to-earnings ratio of 12.30, a P/E/G ratio of 3.33 and a beta of 0.59. The stock has a 50 day moving average price of $59.49 and a two-hundred day moving average price of $57.58.

Altria Group (NYSE:MO - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.37 by $0.07. The business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.21 billion. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%. Altria Group's quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the company earned $1.31 earnings per share. On average, equities analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Monday, June 16th were given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date of this dividend was Monday, June 16th. Altria Group's payout ratio is 78.92%.

Altria Group Company Profile

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.

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