Brokerages Set Altria Group, Inc. (NYSE:MO) PT at $53.29

Shares of Altria Group, Inc. (NYSE:MO) have received a consensus recommendation of “Hold” from the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $53.29.

Several research firms recently weighed in on MO. Bank of America raised Altria Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $55.00 to $65.00 in a research report on Friday, December 6th. Morgan Stanley cut their price target on Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, January 31st.

Hedge Funds Weigh In On Altria Group

Hedge funds have recently modified their holdings of the stock. Financial Life Planners acquired a new position in shares of Altria Group in the 4th quarter worth approximately $25,000. Redwood Park Advisors LLC acquired a new position in shares of Altria Group in the 4th quarter worth approximately $26,000. VSM Wealth Advisory LLC acquired a new position in shares of Altria Group in the 4th quarter worth approximately $29,000. True Wealth Design LLC raised its holdings in shares of Altria Group by 420.0% in the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after buying an additional 462 shares in the last quarter. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Altria Group in the 3rd quarter worth approximately $34,000. 57.41% of the stock is owned by institutional investors and hedge funds.

Altria Group Stock Performance

NYSE MO opened at $57.79 on Thursday. Altria Group has a twelve month low of $40.65 and a twelve month high of $58.59. The stock has a market capitalization of $97.70 billion, a PE ratio of 8.82, a P/E/G ratio of 2.89 and a beta of 0.56. The stock has a 50-day simple moving average of $53.15 and a 200 day simple moving average of $53.10.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, January 30th. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.01. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. As a group, equities research analysts forecast that Altria Group will post 5.32 EPS for the current fiscal year.

Altria Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th will be issued a $1.02 dividend. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.06%. Altria Group’s payout ratio is presently 62.29%.

About Altria Group

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.