Slagle Financial LLC Buys 5,378 Shares of Altria Group, Inc. (NYSE:MO)

Slagle Financial LLC raised its position in shares of Altria Group, Inc. (NYSE:MO) by 9.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,245 shares of the company’s stock after acquiring an additional 5,378 shares during the period. Altria Group makes up about 1.4% of Slagle Financial LLC’s investment portfolio, making the stock its 21st largest position. Slagle Financial LLC’s holdings in Altria Group were worth $2,790,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Maryland Capital Advisors Inc. grew its holdings in Altria Group by 154.4% during the 1st quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock valued at $25,000 after purchasing an additional 349 shares during the last quarter. Accordant Advisory Group Inc purchased a new position in shares of Altria Group during the first quarter valued at approximately $26,000. BNP Paribas purchased a new stake in shares of Altria Group in the first quarter worth approximately $27,000. MFA Wealth Advisors LLC purchased a new stake in shares of Altria Group in the second quarter worth approximately $27,000. Finally, Pineridge Advisors LLC bought a new stake in shares of Altria Group during the 4th quarter worth approximately $28,000. Institutional investors own 57.41% of the company’s stock.

Altria Group Price Performance

NYSE MO traded up $0.61 during midday trading on Friday, hitting $52.44. 9,145,150 shares of the company traded hands, compared to its average volume of 10,471,797. The company has a market cap of $90.06 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 3.07 and a beta of 0.66. Altria Group, Inc. has a 52 week low of $39.06 and a 52 week high of $52.46. The company’s 50-day simple moving average is $48.37 and its 200-day simple moving average is $44.97.

Altria Group (NYSE:MO) last announced its earnings results on Wednesday, July 31st. The company reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). Altria Group had a negative return on equity of 232.55% and a net margin of 42.25%. The firm had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the prior year, the firm posted $1.31 earnings per share. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, research analysts predict that Altria Group, Inc. will post 5.11 earnings per share for the current year.

Altria Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Monday, September 16th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, September 16th. This is an increase from Altria Group’s previous quarterly dividend of $0.98. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.78%. Altria Group’s dividend payout ratio is presently 82.01%.

Wall Street Analyst Weigh In

Several brokerages have commented on MO. Barclays upped their price objective on Altria Group from $37.00 to $43.00 and gave the company an “underweight” rating in a research report on Wednesday, August 14th. Bank of America raised their price target on shares of Altria Group from $47.00 to $48.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Argus raised shares of Altria Group to a “hold” rating in a research report on Friday, May 31st. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a research note on Friday, June 28th. Finally, Stifel Nicolaus raised their price objective on Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Altria Group currently has an average rating of “Hold” and an average target price of $47.08.

About Altria Group

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.