Altria Group (NYSE:MO) Reaches New 52-Week High – Here’s Why

Altria Group, Inc. (NYSE:MO)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $56.64 and last traded at $56.38, with a volume of 952667 shares. The stock had previously closed at $56.03.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MO. Deutsche Bank Aktiengesellschaft raised their target price on shares of Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Bank of America cut their target price on Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. UBS Group lifted their price target on Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a research report on Monday, September 9th. Finally, Citigroup increased their price objective on shares of Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $51.33.

Altria Group Stock Performance

The stock has a 50-day simple moving average of $51.87 and a two-hundred day simple moving average of $49.69. The firm has a market cap of $96.15 billion, a PE ratio of 9.58, a price-to-earnings-growth ratio of 3.19 and a beta of 0.64.

Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.03. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. The firm had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $5.33 billion. During the same period in the previous year, the company earned $1.28 earnings per share. The firm’s quarterly revenue was up 18.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Altria Group, Inc. will post 5.11 EPS for the current fiscal year.

Institutional Trading of Altria Group

Several large investors have recently modified their holdings of MO. MFA Wealth Advisors LLC purchased a new position in shares of Altria Group during the 2nd quarter worth $27,000. True Wealth Design LLC lifted its position in Altria Group by 420.0% during the third quarter. True Wealth Design LLC now owns 572 shares of the company’s stock valued at $29,000 after purchasing an additional 462 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in Altria Group during the second quarter valued at about $30,000. Valley Wealth Managers Inc. increased its position in Altria Group by 63.9% in the second quarter. Valley Wealth Managers Inc. now owns 667 shares of the company’s stock worth $30,000 after buying an additional 260 shares in the last quarter. Finally, Legacy Investment Solutions LLC bought a new position in shares of Altria Group in the third quarter worth about $34,000. Institutional investors own 57.41% of the company’s stock.

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.