Altria Group (NYSE:MO) Stock Price Target Raised at UBS Group

Key Points

• UBS raised Altria’s price target from $79 to $83 and maintained a “buy” rating, implying 6.37% upside from the prior close.
• Analyst sentiment remains mixed: five analysts rate the stock a Buy, six a Hold and two a Sell, resulting in an overall “Hold” consensus and an average target price of $71.44.
• Altria exceeded quarterly expectations, reporting $1.52 in EPS versus the $1.51 consensus and revenue of $5.44 billion versus $5.31 billion expected; revenue increased 1% year over year.

Altria Group (NYSE:MO - Get Free Report) had its price objective raised by UBS Group from $79.00 to $83.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. UBS Group's price objective points to a potential upside of 6.37% from the stock's previous close.

A number of other brokerages also recently commented on MO. Weiss Ratings restated a "buy (b)" rating on shares of Altria Group in a report on Monday, October 12th. Barclays dropped their target price on shares of Altria Group from $64.00 to $58.00 and set an "underweight" rating for the company in a research report on Tuesday, August 11th. BTIG Research began coverage on shares of Altria Group in a research note on Tuesday, July 21st. They set a "neutral" rating on the stock. Freedom Broker raised shares of Altria Group to a "hold" rating in a research note on Wednesday, September 16th. Finally, Citigroup increased their price target on shares of Altria Group from $70.00 to $72.00 and gave the stock a "neutral" rating in a research note on Friday. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $71.44.

Altria Group Price Performance

Shares of Altria Group stock opened at $78.03 on Friday. The company's fifty day simple moving average is $70.45 and its two-hundred day simple moving average is $68.75. The firm has a market cap of $129.80 billion, a PE ratio of 16.12, a price-to-earnings-growth ratio of 2.69 and a beta of 0.43. Altria Group has a 12-month low of $54.70 and a 12-month high of $79.81.

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

Insider Activity

In other Altria Group news, Director Kathryn McQuade purchased 1,500 shares of the stock in a transaction that occurred on Wednesday, September 9th. The stock was bought at an average cost of $67.62 per share, with a total value of $101,430.00. Following the transaction, the director directly owned 114,929 shares in the company, valued at approximately $7,771,498.98. The trade was a 1.32% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Altria Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Procyon Advisors LLC increased its position in Altria Group by 59.3% during the first quarter. Procyon Advisors LLC now owns 38,926 shares of the company's stock worth $2,569,000 after purchasing an additional 14,490 shares during the last quarter. Stephens Inc. AR boosted its holdings in Altria Group by 8.6% in the 1st quarter. Stephens Inc. AR now owns 266,504 shares of the company's stock valued at $17,696,000 after purchasing an additional 21,124 shares during the last quarter. Callan Family Office LLC purchased a new stake in shares of Altria Group in the 2nd quarter valued at approximately $2,911,000. Janney Montgomery Scott LLC grew its stake in shares of Altria Group by 26.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 1,164,691 shares of the company's stock valued at $83,800,000 after buying an additional 246,702 shares during the period. Finally, Waverly Advisors LLC increased its holdings in shares of Altria Group by 21.6% during the 1st quarter. Waverly Advisors LLC now owns 95,137 shares of the company's stock worth $6,278,000 after buying an additional 16,877 shares during the last quarter. Hedge funds and other institutional investors own 57.41% of the company's stock.

Altria Group Company Profile

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.

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