MO

Jefferies Maintains Altria Group (MO) Buy Recommendation

Fintel reports that on October 13, 2023, Jefferies maintained coverage of Altria Group (NYSE:MO) with a Buy recommendation.

Analyst Price Forecast Suggests 17.45% Upside

As of October 5, 2023, the average one-year price target for Altria Group is 50.10. The forecasts range from a low of 37.37 to a high of $73.50. The average price target represents an increase of 17.45% from its latest reported closing price of 42.66.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Altria Group is 21,696MM, an increase of 5.43%. The projected annual non-GAAP EPS is 5.20.

Altria Group Declares $0.98 Dividend

On August 24, 2023 the company declared a regular quarterly dividend of $0.98 per share ($3.92 annualized). Shareholders of record as of September 15, 2023 received the payment on October 10, 2023. Previously, the company paid $0.94 per share.

At the current share price of $42.66 / share, the stock's dividend yield is 9.19%.

Looking back five years and taking a sample every week, the average dividend yield has been 7.57%, the lowest has been 4.95%, and the highest has been 10.71%. The standard deviation of yields is 0.99 (n=235).

The current dividend yield is 1.63 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 1.02. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.14%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 2676 funds or institutions reporting positions in Altria Group. This is a decrease of 72 owner(s) or 2.62% in the last quarter. Average portfolio weight of all funds dedicated to MO is 0.34%, a decrease of 2.79%. Total shares owned by institutions decreased in the last three months by 0.09% to 1,249,277K shares. MO / Altria Group Inc. Put/Call Ratios The put/call ratio of MO is 0.79, indicating a bullish outlook.

What are Other Shareholders Doing?

MO / Altria Group Inc. Shares Held by Institutions

Capital World Investors holds 96,402K shares representing 5.43% ownership of the company. In it's prior filing, the firm reported owning 88,855K shares, representing an increase of 7.83%. The firm increased its portfolio allocation in MO by 2.49% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 55,680K shares representing 3.14% ownership of the company. In it's prior filing, the firm reported owning 55,268K shares, representing an increase of 0.74%. The firm decreased its portfolio allocation in MO by 5.63% over the last quarter.

Charles Schwab Investment Management holds 43,616K shares representing 2.46% ownership of the company. In it's prior filing, the firm reported owning 42,030K shares, representing an increase of 3.63%. The firm increased its portfolio allocation in MO by 2.47% over the last quarter.

VFINX - Vanguard 500 Index Fund Investor Shares holds 42,501K shares representing 2.39% ownership of the company. In it's prior filing, the firm reported owning 41,664K shares, representing an increase of 1.97%. The firm decreased its portfolio allocation in MO by 6.20% over the last quarter.

Geode Capital Management holds 37,025K shares representing 2.09% ownership of the company. In it's prior filing, the firm reported owning 35,856K shares, representing an increase of 3.16%. The firm decreased its portfolio allocation in MO by 5.17% over the last quarter.

Altria Group Background Information
(This description is provided by the company.)

Altria Group, Inc. (previously known as Philip Morris Companies, Inc.) is an American corporation and one of the largest producers and marketers of tobacco, cigarettes and related products. It operates worldwide. It sells its tobacco products primarily to wholesalers, including distributors; and large retail organizations, such as chain stores.

Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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