O ROURKE & COMPANY Inc purchased a new position in Altria Group, Inc. (NYSE:MO – Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,371 shares of the company’s stock, valued at approximately $223,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in MO. CWM LLC raised its position in shares of Altria Group by 15.3% during the 3rd quarter. CWM LLC now owns 305,704 shares of the company’s stock worth $15,603,000 after acquiring an additional 40,574 shares in the last quarter. Nordea Investment Management AB raised its holdings in Altria Group by 1.6% during the first quarter. Nordea Investment Management AB now owns 1,027,886 shares of the company’s stock worth $44,960,000 after purchasing an additional 16,541 shares in the last quarter. Regal Investment Advisors LLC lifted its position in shares of Altria Group by 4.2% during the 2nd quarter. Regal Investment Advisors LLC now owns 251,933 shares of the company’s stock worth $11,476,000 after buying an additional 10,079 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Altria Group by 2.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 1,456,308 shares of the company’s stock valued at $74,330,000 after buying an additional 32,318 shares in the last quarter. Finally, Atomi Financial Group Inc. grew its position in shares of Altria Group by 7.2% in the 1st quarter. Atomi Financial Group Inc. now owns 5,953 shares of the company’s stock valued at $260,000 after buying an additional 399 shares during the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.
Analyst Upgrades and Downgrades
MO has been the subject of a number of research reports. Stifel Nicolaus boosted their price target on shares of Altria Group from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Citigroup boosted their target price on Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Barclays raised their price target on Altria Group from $43.00 to $45.00 and gave the stock an “underweight” rating in a research note on Monday, September 9th. StockNews.com cut Altria Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Finally, UBS Group increased their price objective on Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $48.20.
Altria Group Trading Up 8.3 %
Shares of NYSE MO traded up $4.19 during midday trading on Thursday, reaching $54.69. 12,465,512 shares of the company were exchanged, compared to its average volume of 9,836,688. The stock has a fifty day simple moving average of $51.34 and a 200 day simple moving average of $48.25. The stock has a market cap of $93.31 billion, a P/E ratio of 9.27, a PEG ratio of 2.89 and a beta of 0.65. Altria Group, Inc. has a 1 year low of $39.25 and a 1 year high of $54.95.
Altria Group (NYSE:MO – Get Free Report) last released its earnings results on Wednesday, July 31st. The company reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). Altria Group had a net margin of 42.25% and a negative return on equity of 232.55%. The company had revenue of $6.21 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same period in the previous year, the firm posted $1.31 EPS. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. As a group, analysts forecast that Altria Group, Inc. will post 5.11 earnings per share for the current year.
Altria Group Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 16th were paid a $1.02 dividend. This is a boost from Altria Group’s previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a yield of 7.46%. The ex-dividend date of this dividend was Monday, September 16th. Altria Group’s payout ratio is currently 70.34%.
Altria Group Company Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.
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