Royal Bank of Canada set a $68.00 target price on Altria Group (NYSE:MO) in a research note issued to investors on Wednesday morning, TipRanks reports. The firm currently has a buy rating on the stock.
Other analysts have also recently issued reports about the stock. ValuEngine cut shares of Altria Group from a hold rating to a sell rating in a research report on Wednesday, May 29th. Zacks Investment Research raised shares of Altria Group from a sell rating to a hold rating in a research report on Monday, April 8th. Citigroup set a $45.00 price objective on shares of Altria Group and gave the stock a sell rating in a research report on Friday, April 26th. Goldman Sachs Group lowered shares of Altria Group from a buy rating to a neutral rating and set a $49.86 price objective on the stock. in a research report on Friday, July 12th. Finally, Morgan Stanley reduced their price objective on shares of Altria Group from $49.00 to $48.00 and set an underweight rating on the stock in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $61.07.
Shares of NYSE MO traded up $0.05 during mid-day trading on Wednesday, hitting $47.93. 6,625,282 shares of the company’s stock traded hands, compared to its average volume of 9,731,759. The business has a 50-day moving average of $49.20. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.56 and a quick ratio of 0.39. The company has a market capitalization of $90.74 billion, a P/E ratio of 12.01, a P/E/G ratio of 1.52 and a beta of 0.39. Altria Group has a 1 year low of $42.40 and a 1 year high of $66.04.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Friday, June 14th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 6.68%. The ex-dividend date was Thursday, June 13th. Altria Group’s dividend payout ratio (DPR) is presently 80.20%.
Altria Group declared that its Board of Directors has approved a share buyback program on Tuesday, July 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 1.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.
In other news, VP W Hildebrandt Surgner, Jr. sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $52.48, for a total transaction of $104,960.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.11% of the company’s stock.
Several large investors have recently modified their holdings of the company. Country Trust Bank boosted its stake in shares of Altria Group by 86.9% during the first quarter. Country Trust Bank now owns 514 shares of the company’s stock valued at $30,000 after purchasing an additional 239 shares in the last quarter. James Investment Research Inc. bought a new position in shares of Altria Group during the first quarter valued at approximately $43,000. Creative Financial Designs Inc. ADV boosted its stake in shares of Altria Group by 113.4% during the first quarter. Creative Financial Designs Inc. ADV now owns 783 shares of the company’s stock valued at $45,000 after purchasing an additional 416 shares in the last quarter. Interactive Financial Advisors boosted its stake in shares of Altria Group by 166.7% during the first quarter. Interactive Financial Advisors now owns 800 shares of the company’s stock valued at $46,000 after purchasing an additional 500 shares in the last quarter. Finally, HMS Capital Management LLC bought a new position in shares of Altria Group during the second quarter valued at approximately $41,000. 64.24% of the stock is currently owned by institutional investors and hedge funds.
About Altria Group
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.
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