Altria Group (NYSE:MO) Downgraded by StockNews.com to Hold

Altria Group (NYSE:MO - Get Free Report) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a report released on Sunday.

A number of other analysts have also weighed in on the stock. Stifel Nicolaus reaffirmed a "buy" rating and issued a $50.00 price objective on shares of Altria Group in a research note on Monday, March 25th. UBS Group boosted their target price on shares of Altria Group from $36.10 to $36.50 and gave the stock a "sell" rating in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $46.90.

Altria Group Trading Down 0.9 %

Shares of MO traded down $0.38 during trading hours on Friday, reaching $41.05. 10,669,091 shares of the company traded hands, compared to its average volume of 15,643,571. The firm has a market cap of $70.51 billion, a price-to-earnings ratio of 8.98, a PEG ratio of 2.47 and a beta of 0.65. Altria Group has a 12-month low of $39.06 and a 12-month high of $48.04. The stock's fifty day moving average price is $41.82 and its 200 day moving average price is $41.45.

Altria Group (NYSE:MO - Get Free Report) last issued its earnings results on Thursday, February 1st. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.17 by $0.01. Altria Group had a net margin of 33.21% and a negative return on equity of 244.55%. The firm had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.06 billion. During the same period in the previous year, the firm earned $1.18 earnings per share. The business's revenue was down 1.2% on a year-over-year basis. On average, research analysts forecast that Altria Group will post 5.09 earnings per share for the current year.

Altria Group declared that its board has initiated a stock buyback plan on Thursday, February 1st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 1.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Hedge Funds Weigh In On Altria Group

Several hedge funds have recently modified their holdings of MO. Sei Investments Co. increased its holdings in Altria Group by 1.6% in the 1st quarter. Sei Investments Co. now owns 404,894 shares of the company's stock worth $21,248,000 after buying an additional 6,324 shares during the period. Sequoia Financial Advisors LLC boosted its position in Altria Group by 5.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 18,647 shares of the company's stock worth $974,000 after purchasing an additional 929 shares in the last quarter. Loomis Sayles & Co. L P purchased a new stake in Altria Group in the 1st quarter worth approximately $25,000. Mackenzie Financial Corp boosted its position in Altria Group by 3.4% in the 1st quarter. Mackenzie Financial Corp now owns 2,711,773 shares of the company's stock worth $141,690,000 after purchasing an additional 89,334 shares in the last quarter. Finally, First Western Trust Bank purchased a new stake in Altria Group in the 1st quarter worth approximately $498,000. Institutional investors and hedge funds own 57.41% of the company's stock.

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.