Altria Group, Inc. (NYSE:MO), which is listed on the New York Stock Exchange, received an average “Hold” recommendation from analysts.
According to Bloomberg Ratings, the eleven brokerages currently covering shares of Altria Group, Inc. (NYSE: MO) have assigned the stock a “Hold” rating as a consensus recommendation. This rating represents the brokerages’ overall recommendation for the stock. Moreover, the research experts concluded that the stock should be sold. However, seven other analysts gave it a “hold” rating and two other analysts gave it a “buy” rating. Most of the brokerage firms that gave the company quotes in the past year have set an average price target of $47,000 for the company’s stock for the coming year.
It is only very recently that several seasoned industry professionals have offered their observations and recommendations on MO stock. In a report Monday, June 27, Cowen lowered his “market performance” rating and price target on Altria Group shares from $56.00 to $45.00 in a report dated June 27. The report was followed by a further drop in the target price on Tuesday, June 28. Following research released that day, StockNews.com on Friday changed its recommendation for Altria Group from “buy” to “hold.” In a report Monday, June 27, Cowen lowered his “market performance” rating and price target on Altria Group shares from $56.00 to $45.00 in a report dated June 27. The report was followed by a further drop in the target price on Tuesday, June 28. In a report released Friday, July 8, Bank of America downgraded its rating on the stock to “neutral” and lowered its price target on Altria Group shares from $50.00 to $45.00. These changes were made in response to the Altria Group’s IPO announcement. Both of these changes have been made. The price target that Deutsche Bank Aktiengesellschaft has set for Altria Group shares has risen from $60.00 to $46.00, as shown in a report released Friday, July 1. This was the third and final downgrade, and it was also the biggest.
Institutional investors have recently changed the way they hold their positions in the company in light of recent events. Vanguard Group Inc. increased the number of Altria Group shares held by 2.0% in the first three months of 2018. One hundred fifty-seven million two hundred sixty-four thousand five hundred seventy-three company shares are currently worth $8,217,074,000 after purchasing an additional 3,101,529 shares during the relevant period, bringing the total number of shares held to a total of 157,264,573. BlackRock Inc. increased the number shares held by Altria Group by 1.8% during the first quarter of the year. BlackRock Inc. now owns a total of 119,840,218 shares of the company, which are worth $6,261,650,000 after purchasing an additional 2,098,737 shares during the period in question. This gives the company a market capitalization of $6,261,650,000. During the second quarter, State Street Corporation achieved a 0.8% increase in the proportion of Altria Group shares it held. After purchasing an additional 546,935 shares in the most recent period, State Street Corp now owns 71,065,920 shares. The value of State Street Corp’s holdings in the company’s stock is estimated at $3,029,586,000. Charles Schwab Investment Management Inc. increased the amount of Altria Group shares held by 6.4% during the first quarter of the year. Charles Schwab Investment Management Inc. now has 36,302,349 shares of the company in its possession following an additional purchase of 2,178,596 shares during the last reporting period. Each share of the company currently has a market value of $1,896,798,000. To keep pace with its competitors, GQG Partners LLC increased its stake in Altria Group to 99.4% in the first three months of 2018. GQG Partners LLC now owns 18,304,417 shares of the company, valued at 956,221,000 $ following the purchase of 9,125,036 additional shares. during the period in question. The total number of shares currently outstanding are held by institutional investors, who collectively own a stake in the company, representing 59.75% of the total.
When trading began on Monday, MO’s share price was $44.24. The stock currently has a 50-day simple moving average of $43.99, and its 200-day simple moving average is 47.12%. The company’s market capitalization currently stands at $79.67 billion. It has a price/earnings ratio of 45.61, a price/earnings/growth ratio of 1.50 and a beta coefficient of 0.61. Over the past year, Altria Group’s stock price has varied from a low of $40.35 to a high of $57.05; the current price is $57.05.
The most recent results of Altria Group’s financial operations were disclosed on Thursday, July 28, via an announcement by the company’s stock on the NYSE under the symbol MO. The company’s earnings per share for the quarter came in at $1.26, $0.01 higher than the $1.25 average analysts’ estimate for the company’s earnings per share. The company’s quarterly sales were $5.37 billion, which was lower than the average forecast that had been made, which was $5.42 billion. Altria Group’s return on equity was negative at 488.86% and its net margin at 6.88%. The company’s quarterly revenue decline was 4.3% compared to the prior year’s performance over the same period. The company generated $1.23 per share in the same period a year earlier. Analysts covering the stock market believe Altria Group will end the current fiscal year with earnings of $4.85 per share, putting the company on track to meet those expectations.
Additionally, the company just announced and paid a quarterly dividend, which was paid on October 11. This dividend has been distributed. On September 15, dividends of $0.94 per share were distributed to shareholders qualified to receive them as of that date (September 15). The results of this calculation show that the dividend yield is 8.50% and the annual dividend payment is $3.76. The ex-dividend date of this dividend was September 14, and this day also marked the start of the payment period. The payment period will last until the next ex-dividend date. Altria Group’s previous quarterly dividend payment, which was $0.90, has been increased to this amount. At this stage, the Altria group’s payout rate is 387.63%.
Altria Group, Inc. is the company responsible for the production of combustible and oral tobacco products in the United States, and it markets these products there through its subsidiaries. The following merchandise categories make up the company’s main product lines: cigarettes manufactured by Marlboro; cigars and pipe tobacco made by Black & Mild; wet smokeless tobacco products made by Copenhagen, Skoal, Red Seal and Husky; oral nicotine sachets manufactured by on! ; and wet smokeless tobacco products manufactured by Black & Mild.