Aprio Wealth Management LLC purchased a new position in Altria Group, Inc. (NYSE:MO – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 5,428 shares of the company’s stock, valued at approximately $246,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Sei Investments Co. lifted its holdings in shares of Altria Group by 1.6% in the 1st quarter. Sei Investments Co. now owns 404,894 shares of the company’s stock worth $21,248,000 after acquiring an additional 6,324 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Altria Group by 5.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 18,647 shares of the company’s stock worth $974,000 after acquiring an additional 929 shares during the last quarter. Loomis Sayles & Co. L P bought a new stake in shares of Altria Group in the 1st quarter worth approximately $25,000. Mackenzie Financial Corp lifted its holdings in shares of Altria Group by 3.4% in the 1st quarter. Mackenzie Financial Corp now owns 2,711,773 shares of the company’s stock worth $141,690,000 after acquiring an additional 89,334 shares during the last quarter. Finally, First Western Trust Bank purchased a new position in Altria Group during the 1st quarter valued at $498,000. Hedge funds and other institutional investors own 58.94% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have issued reports on the stock. Jefferies Financial Group reduced their price objective on shares of Altria Group from $56.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, August 22nd. StockNews.com assumed coverage on shares of Altria Group in a research report on Thursday, August 17th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Altria Group presently has a consensus rating of “Hold” and a consensus target price of $47.50.
Altria Group Stock Down 0.5 %
Shares of NYSE:MO traded down $0.20 during midday trading on Tuesday, reaching $43.15. The company’s stock had a trading volume of 2,890,516 shares, compared to its average volume of 7,807,432. The firm has a 50 day moving average of $44.38 and a 200-day moving average of $45.04. The firm has a market capitalization of $76.57 billion, a P/E ratio of 11.38, a PEG ratio of 2.32 and a beta of 0.59. Altria Group, Inc. has a 12-month low of $40.35 and a 12-month high of $51.57.
Altria Group (NYSE:MO – Get Free Report) last released its earnings results on Tuesday, August 1st. The company reported $1.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.31. Altria Group had a net margin of 27.40% and a negative return on equity of 225.61%. The firm had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the prior year, the firm earned $1.26 EPS. The company’s revenue was up 1.2% compared to the same quarter last year. On average, research analysts predict that Altria Group, Inc. will post 5 EPS for the current year.
Altria Group Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 15th will be given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 9.08%. This is an increase from Altria Group’s previous quarterly dividend of $0.94. The ex-dividend date is Thursday, September 14th. Altria Group’s dividend payout ratio is 102.89%.
Altria Group Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company provides cigarettes primarily under the Marlboro brand; cigars and pipe tobacco principally under the Black & Mild brand; moist smokeless tobacco products and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; and on! oral nicotine pouches.
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