Sunday, June 26, 2022

The Attractiveness of Investing In Altria Group Inc. (MO) is Growing

Morgan Stanley downgraded its Altria Group Inc. [MO] rating to an Underweight from a an Equal-weight in a research note published on Tuesday, June 08, 2022; the price target was decreased to $50 from $54. PT values the company’s stock at a premium of 8.6 to its Tuesday closing price. A number of analysts have revised their coverage, including Bernstein’s analysts, who decreased its forecast for the stock in early May from “an Outperform” to “a Mkt perform”. RBC Capital Mkts also remained covering MO and has decreased its forecast on March 28, 2022 with a “Sector perform” recommendation from previously “an Outperform” rating. Goldman revised its rating on March 22, 2022. It rated MO as “a Buy” which previously was an “a Neutral”.


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Price Performance Review of MO

On Tuesday, Altria Group Inc. [NYSE:MO] saw its stock jump 0.86% to $45.70. On the same session, the stock had its day’s lowest price of $45.02, but rose to a high of $45.78. Over the last five days, the stock has lost -3.10%. Altria Group Inc. shares have fallen nearly -3.57% since the year began. Nevertheless, the stocks have fallen -3.36% over the past one year. While a 52-week high of $57.05 was reached on 04/21/22, a 52-week low of $42.53 was recorded on 06/16/22. SMA at 50 days reached $52.95, while 200 days put it at $49.68. A total of 14.93 million shares were traded, compared to the trading of 30.81 million shares in the previous session.

Levels Of Support And Resistance For MO Stock

The 24-hour chart illustrates a support level at 45.22, which if violated will result in even more drops to 44.74. On the upside, there is a resistance level at 45.98. A further resistance level may holdings at 46.26. The Relative Strength Index (RSI) on the 14-day chart is 25.67, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.98, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 86.44%. Stochastics %K at 10.97% indicates the stock is a buying.

How much short interest is there in Altria Group Inc.?

A steep rise in short interest was recorded in Altria Group Inc. stocks on Apr 28, 2022, growing by 6.11 million shares to a total of 19.32 million shares. Yahoo Finance data shows the prior-month short interest on Mar 30, 2022 was 13.21 million shares. There was a rise of 31.63%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.07% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.44.

Altria Group Inc. [MO] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 150,009,525 shares, or roughly 8.29% of the outstanding MO shares. In other words, the investor’s shares have risen by 3,240,633 from its previous 13-F filing of 146768892.0. Additionally, Capital Research & Management Co decreased -0.70% of its stake after which the total value it holdings stand at $6,064,448,340, while BlackRock Fund Advisors added 0.65% of its stake to hold $4.72 billion in the firm. Over the last quarter, SSgA Funds Management, Inc. sold -1,243,289 shares of Altria Group Inc., while Fidelity Management & Research Co sold 1,509,271 shares. At present, Charles Schwab Investment Managem is holding 36,302,349 shares valued at $1.96 billion. Geode Capital Management LLC owned 33,055,287 shares of the company at the time of its most recent 13F filing, worth $1.79 billion.

According to FactSet, Altria Group Inc.’s share price will average $56.41 in the next year, based on opinions of analysts polled by the firm. This is up nearly 25.8 percent from its previous closing price of $45.31. Analysts expect Altria Group Inc. stock to reach the higher price of $68.00, while the lowest price estimate is $47.00. However, 19 analysts have rated MO stock as a Hold in their predictions for 2022.

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