{"id":46970,"date":"2024-03-14T08:11:03","date_gmt":"2024-03-14T08:11:03","guid":{"rendered":"https:\/?p=46970"},"modified":"2024-03-14T08:11:03","modified_gmt":"2024-03-14T08:11:03","slug":"altria-to-sell-2-2-billion-ab-inbev-shares-for-tobacco-growth","status":"publish","type":"post","link":"https:\/\/www.stocktargetadvisor.com\/blog\/altria-to-sell-2-2-billion-ab-inbev-shares-for-tobacco-growth\/","title":{"rendered":"Altria to Sell $2.2 Billion AB InBev Shares for Tobacco Growth"},"content":{"rendered":"

Altria Group Inc (MO: NYE<\/a><\/strong>), the parent company of Philip Morris USA, announced today plans to sell $2.2 billion worth of its shares in Anheuser-Busch InBev (BUD: NYE<\/a><\/strong>).<\/span><\/p>\n

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Is Altria’s Divestment a Strategic Move for Growth?<\/strong><\/h2>\n

Altria says the proceeds from the sale will be used to invest in its core tobacco business and for share repurchases. The proceeds from the sell-off will be reinvested into reinforcing the core business and share repurchases – potentially leading to higher dividends or buyback programs for its shareholders. The sale, which is expected to close in the second quarter of 2024, will reduce Altria’s ownership stake in AB InBev from approximately 10.5% to 8.0%.<\/span><\/p>\n

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Stock Target Advisor’s View on Altria Stock:<\/strong><\/h2>\n

Stock Target Advisor’s<\/a><\/strong> assessment of Altria Group offers a ‘Buy’ rating with a target price of $56, representing a projected 12-month price change of 29.18%. This target price significantly surpasses the average analyst target price of $45.55, which carries a neutral ‘Hold’ rating.<\/span><\/p>\n

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MO Ratings<\/a> by Stock Target Advisor<\/p>\n<\/div>\n