Citigroup Increases Altria Group (MO) Price Target to $67.00
Altria Group (NYSE:MO) had its price objective boosted by Citigroup from $59.00 to $67.00 in a research note issued to investors on Friday morning, MarketBeat reports. Citigroup currently has a hold rating on the stock.
MO has been the subject of a number of other reports. Stifel Nicolaus cut their price target on Altria Group from $78.00 to $65.00 and set a buy rating for the company in a report on Friday, July 27th. ValuEngine raised Altria Group from a strong sell rating to a sell rating in a report on Wednesday, August 15th. Morgan Stanley cut their price target on Altria Group from $65.00 to $63.00 and set an equal weight rating for the company in a report on Tuesday, June 26th. Bank of America set a $70.00 price target on Altria Group and gave the stock a buy rating in a report on Thursday, September 13th. Finally, Zacks Investment Research raised Altria Group from a sell rating to a hold rating in a report on Thursday, May 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and an average target price of $70.45.
NYSE:MO opened at $61.06 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.65 and a quick ratio of 0.31. Altria Group has a 1 year low of $53.91 and a 1 year high of $74.38. The firm has a market capitalization of $117.92 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 1.77 and a beta of 0.62.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 10th. Investors of record on Friday, September 14th will be paid a dividend of $0.80 per share. This is a positive change from Altria Group’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $3.20 annualized dividend and a yield of 5.24%. Altria Group’s dividend payout ratio (DPR) is currently 94.67%.
In related news, Director Dinyar S. Devitre sold 3,165 shares of Altria Group stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $58.44, for a total transaction of $184,962.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.11% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of MO. Morgan Stanley boosted its stake in Altria Group by 49.6% during the second quarter. Morgan Stanley now owns 16,461,864 shares of the company’s stock valued at $934,869,000 after buying an additional 5,454,989 shares during the period. FMR LLC boosted its stake in Altria Group by 14.1% during the second quarter. FMR LLC now owns 37,263,858 shares of the company’s stock valued at $2,116,214,000 after buying an additional 4,613,088 shares during the period. BlackRock Inc. boosted its stake in Altria Group by 3.4% during the second quarter. BlackRock Inc. now owns 138,589,215 shares of the company’s stock valued at $7,870,481,000 after buying an additional 4,581,335 shares during the period. Charles Schwab Investment Advisory Inc. purchased a new stake in Altria Group during the second quarter valued at about $178,215,000. Finally, Voya Investment Management LLC raised its position in Altria Group by 354.6% during the second quarter. Voya Investment Management LLC now owns 3,883,621 shares of the company’s stock valued at $220,551,000 after purchasing an additional 3,029,307 shares in the last quarter. 63.07% of the stock is owned by institutional investors.
Altria Group Company Profile
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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