Bank of America Upgrades Altria Group (NYSE:MO) to "Buy"

Bank of America upgraded shares of Altria Group (NYSE:MO - Free Report) from a neutral rating to a buy rating in a report published on Friday morning, Marketbeat.com reports. Bank of America currently has $65.00 price objective on the stock, up from their previous price objective of $55.00.

Other equities analysts have also recently issued research reports about the stock. Stifel Nicolaus increased their price objective on shares of Altria Group from $54.00 to $60.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Citigroup raised their price target on Altria Group from $44.50 to $48.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 8th. Barclays boosted their price objective on Altria Group from $45.00 to $46.00 and gave the company an "underweight" rating in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft lifted their target price on Altria Group from $52.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Finally, UBS Group increased their price target on shares of Altria Group from $39.00 to $41.00 and gave the stock a "sell" rating in a research report on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Altria Group has a consensus rating of "Hold" and a consensus price target of $53.33.

Altria Group Trading Up 0.7 %

MO stock traded up $0.40 during midday trading on Friday, hitting $57.31. 5,729,404 shares of the company's stock were exchanged, compared to its average volume of 9,614,604. Altria Group has a 1-year low of $39.25 and a 1-year high of $58.03. The business has a 50-day simple moving average of $53.01 and a two-hundred day simple moving average of $50.41. The stock has a market capitalization of $97.13 billion, a PE ratio of 9.68, a P/E/G ratio of 3.24 and a beta of 0.63.

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

Institutional Trading of Altria Group

Several hedge funds have recently added to or reduced their stakes in the company. Aviance Capital Partners LLC grew its position in shares of Altria Group by 0.5% in the third quarter. Aviance Capital Partners LLC now owns 40,362 shares of the company's stock valued at $2,060,000 after purchasing an additional 191 shares during the period. Delta Investment Management LLC boosted its stake in Altria Group by 2.9% in the 2nd quarter. Delta Investment Management LLC now owns 7,064 shares of the company's stock worth $322,000 after buying an additional 198 shares during the last quarter. Scarborough Advisors LLC grew its holdings in Altria Group by 18.5% in the 2nd quarter. Scarborough Advisors LLC now owns 1,283 shares of the company's stock valued at $58,000 after buying an additional 200 shares during the period. American Institute for Advanced Investment Management LLP grew its holdings in Altria Group by 3.5% in the 3rd quarter. American Institute for Advanced Investment Management LLP now owns 5,860 shares of the company's stock valued at $299,000 after buying an additional 200 shares during the period. Finally, Ridgecrest Wealth Partners LLC increased its stake in shares of Altria Group by 3.5% during the 3rd quarter. Ridgecrest Wealth Partners LLC now owns 5,851 shares of the company's stock valued at $299,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds 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.