Altria Group's Stock Rating Revised with Lower Target Price
According to a report from Benzinga media on January 24th, UBS Group, a Swiss bank, has once again lowered its sell rating on Altria Group stock and set a target price of $36.10.
Meanwhile, other stock research analysts have also released reports on the company. StockNews downgraded its rating on Altria Group from buy to hold on Monday. Bank of America lowered its price target for Altria Group from $49.00 to $47.00 in a research report on October 9. Citigroup also reduced its price target for Altria Group from $46.50 to $45.00 and assigned a neutral rating to the company. Jefferies Financial Group raised its price target for Altria Group from $55.00 to $56.00 and assigned a buy rating to the stock.
Overall, the average rating for Altria Group stock is currently "hold," with a consensus target price of $47.22.
According to the quarterly performance announced by Altria Group on October 26th, the earnings per share stood at $1.28, slightly below the market expectation of $1.29 by a margin of $0.01. Altria Group recorded a net profit margin of 35.58% and a stock return rate of -237.91%. The quarterly revenue amounted to $5.28 billion, which was lower than the analyst's estimate of $5.43 billion.
In addition, Altria Group recently announced quarterly dividends, with shareholders receiving a dividend of $0.98 per share on December 21st. The annualized dividend is $3.92, with a dividend yield of 9.69%. Currently, Altria Group's dividend payout ratio stands at 79.84%.
In terms of insider trading, director Robert Matthews Davis purchased 1200 shares at an average price of $40.50 on November 6th, resulting in a total transaction value of $48,600.
In recent times, large investors, including Loomis Sayles & Co. L P, Altshuler Shaham, Northwest Bank & Trust Co, Nemes Rush Group, and ZRC Wealth Management, have been increasing or decreasing their holdings in Altria Group.
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