Altria Group (NYSE:MO) Price Target Raised to $83.00

Altria Group (NYSE:MO) had its target price boosted by investment analysts at UBS Group from $79.00 to $83.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group‘s price target suggests a potential upside of 6.37% from the stock’s current price.

A number of other research analysts have also recently commented on MO. Weiss Ratings restated a “buy (b)” rating on shares of Altria Group in a research note on Monday, October 12th. Barclays dropped their target price on Altria Group from $64.00 to $58.00 and set an “underweight” rating for the company in a research report on Tuesday, August 11th. Morgan Stanley increased their price target on shares of Altria Group from $71.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Friday. BTIG Research started coverage on shares of Altria Group in a research note on Tuesday, July 21st. They issued a “neutral” rating for the company. Finally, Citigroup lifted their price objective on shares of Altria Group from $70.00 to $72.00 and gave the company a “neutral” rating in a report on Friday. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $71.44.

Altria Group Stock Performance

Shares of NYSE:MO opened at $78.03 on Friday. The company has a market capitalization of $129.80 billion, a price-to-earnings ratio of 16.12, a PEG 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. The business has a 50-day moving average price of $70.45 and a 200 day moving average price of $68.75.

Altria Group (NYSE:MO) last posted its earnings results on Thursday, October 29th. The company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.01. The company had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.31 billion. Altria Group had a net margin of 34.51% and a negative return on equity of 330.66%. Altria Group’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.45 earnings per share. As a group, equities research analysts predict that Altria Group will post 5.69 earnings per share for the current fiscal year.

Insider Transactions at Altria Group

In related news, Director Kathryn McQuade acquired 1,500 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The stock was acquired at an average price of $67.62 per share, for a total transaction of $101,430.00. Following the purchase, the director owned 114,929 shares of the company’s stock, valued at $7,771,498.98. This represents a 1.32% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Balance Wealth Partners LLC purchased a new position in Altria Group in the third quarter valued at $25,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Altria Group during the 2nd quarter worth about $26,000. Cornerstone National Bank & Trust Co acquired a new position in shares of Altria Group during the 3rd quarter worth about $33,000. Evolution Advisers Inc. increased its holdings in shares of Altria Group by 110.9% in the 2nd quarter. Evolution Advisers Inc. now owns 578 shares of the company’s stock valued at $41,000 after acquiring an additional 304 shares during the last quarter. Finally, GK Wealth Management LLC purchased a new position in shares of Altria Group in the 3rd quarter valued at about $43,000. 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.