Altria Group Inc (MO) is Initiated by Berenberg to Buy, Price Target at $74

Altria Group Inc (MO) was Initiated by Berenberg to “Buy” and the brokerage firm has set the Price Target at $74. Berenberg advised their investors in a research report released on Jun 14, 2016.

Many Wall Street Analysts have commented on Altria Group Inc. Altria Group Inc was Downgraded by BofA/Merrill to ” Neutral” on Mar 24, 2016.

On the company’s financial health, Altria Group Inc reported $0.72 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.68. The company had revenue of $3923.00 million for the quarter, compared to analysts expectations of $4423.15 million. The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS.

Altria Group Inc opened for trading at $65.56 and hit $66.19 on the upside on Friday, eventually ending the session at $66.13, with a gain of 0.41% or 0.27 points. The heightened volatility saw the trading volume jump to 52,08,230 shares. Company has a market cap of $129,378 M.

In a different news, on May 24, 2016, George Munoz (director) sold 12,571 shares at $62.85 per share price. According to the SEC, on May 24, 2016, Nabil Y Sakkab (director) purchased 4,000 shares at $63.20 per share price. On May 11, 2016, Brian W. Quigley (President & CEO, USSTC) sold 3,000 shares at $63.66 per share price, according to the Form-4 filing with the securities and exchange commission.

Altria Group Inc. is a holding company. The Company’s reportable segments include smokeable products smokeless products and wine. As of December 31 2014 Altria Group Inc.’s wholly owned subsidiaries included Philip Morris USA Inc. (PM USA) which is engaged in the manufacture and sale of cigarettes in the United States; John Middleton Co. (Middleton) which is engaged in the manufacture and sale of machine-made large cigars and pipe tobacco and is a wholly owned subsidiary of PM USA and UST LLC (UST) which through its wholly owned subsidiaries including U.S. Smokeless Tobacco Company LLC (USSTC) and Ste. Michelle Wine Estates Ltd. (Ste. Michelle) is engaged in the manufacture and sale of smokeless products and wine.

Altria Group Inc

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