UBS Group Increases Altria Group (NYSE:MO) Price Target to $36.50

Altria Group (NYSE:MO) had its target price increased by UBS Group from $36.10 to $36.50 in a research report sent to investors on Monday morning, Benzinga reports. They currently have a sell rating on the stock.

Several other research firms have also recently commented on MO. Stifel Nicolaus reaffirmed a buy rating and issued a $50.00 price target on shares of Altria Group in a report on Monday, March 25th. StockNews.com raised Altria Group from a hold rating to a buy rating in a report on Saturday, April 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $46.90.

Altria Group Stock Performance

MO opened at $41.68 on Monday. The company has a market cap of $71.59 billion, a PE ratio of 9.12, a price-to-earnings-growth ratio of 2.53 and a beta of 0.65. The stock has a 50-day moving average of $41.83 and a 200-day moving average of $41.46. Altria Group has a 52-week low of $39.06 and a 52-week high of $48.04.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, February 1st. The company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.01. The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.06 billion. Altria Group had a negative return on equity of 244.55% and a net margin of 33.21%. The firm’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.18 EPS. On average, research analysts predict that Altria Group will post 5.08 earnings per share for the current year.

Altria Group declared that its Board of Directors has initiated a share buyback program on Thursday, February 1st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Altria Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, March 25th will be issued a $0.98 dividend. The ex-dividend date of this dividend is Friday, March 22nd. This represents a $3.92 annualized dividend and a yield of 9.40%. Altria Group’s dividend payout ratio (DPR) is 85.78%.

Hedge Funds Weigh In On Altria Group

A number of hedge funds have recently modified their holdings of MO. Loomis Sayles & Co. L P acquired a new position in shares of Altria Group in the 1st quarter worth approximately $25,000. Altshuler Shaham Ltd acquired a new position in shares of Altria Group in the 3rd quarter worth approximately $26,000. Nemes Rush Group LLC grew its position in Altria Group by 103.2% during the 3rd quarter. Nemes Rush Group LLC now owns 636 shares of the company’s stock worth $27,000 after acquiring an additional 323 shares during the last quarter. Criterion Capital Advisors LLC bought a new stake in Altria Group during the 4th quarter worth approximately $27,000. Finally, Hobbs Group Advisors LLC bought a new stake in Altria Group during the 4th quarter worth approximately $27,000. 57.41% of the stock is owned by institutional investors and hedge funds.

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.