Angeles Wealth Management LLC Purchases 1,186 Shares of Altria Group, Inc. (NYSE:MO)

Angeles Wealth Management LLC grew its position in Altria Group, Inc. (NYSE:MO) by 14.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,161 shares of the company’s stock after purchasing an additional 1,186 shares during the period. Angeles Wealth Management LLC’s holdings in Altria Group were worth $468,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Whitener Capital Management Inc. lifted its position in shares of Altria Group by 12.5% in the third quarter. Whitener Capital Management Inc. now owns 34,420 shares of the company’s stock worth $1,757,000 after purchasing an additional 3,830 shares in the last quarter. Prosperitas Financial LLC increased its stake in Altria Group by 9.2% in the 3rd quarter. Prosperitas Financial LLC now owns 52,022 shares of the company’s stock valued at $2,655,000 after buying an additional 4,365 shares during the last quarter. GFS Advisors LLC lifted its position in Altria Group by 1,955.7% during the 3rd quarter. GFS Advisors LLC now owns 7,092 shares of the company’s stock worth $362,000 after buying an additional 6,747 shares in the last quarter. Confluence Wealth Services Inc. boosted its stake in shares of Altria Group by 1.3% during the 3rd quarter. Confluence Wealth Services Inc. now owns 49,785 shares of the company’s stock worth $2,541,000 after buying an additional 640 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Altria Group by 5.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 25,664 shares of the company’s stock valued at $1,310,000 after acquiring an additional 1,321 shares in the last quarter. 57.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on MO. Stifel Nicolaus upped their target price on Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday. 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. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday. Citigroup increased their price target on shares of Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Finally, Barclays boosted their price objective on shares of Altria Group from $43.00 to $45.00 and gave the stock an “underweight” rating in a research note on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Altria Group has an average rating of “Hold” and a consensus target price of $51.17.

Altria Group Stock Down 1.1 %

Shares of NYSE MO traded down $0.59 during mid-day trading on Friday, reaching $53.87. 10,986,246 shares of the company were exchanged, compared to its average volume of 7,304,533. The stock has a market capitalization of $91.91 billion, a P/E ratio of 9.10, a P/E/G ratio of 3.14 and a beta of 0.64. The company’s 50-day simple moving average is $51.42 and its 200-day simple moving average is $48.43. Altria Group, Inc. has a twelve month low of $39.25 and a twelve month high of $54.95.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.03. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. The firm had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $5.33 billion. During the same period last year, the business posted $1.28 earnings per share. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. As a group, equities research analysts expect that Altria Group, Inc. will post 5.11 EPS 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 issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 7.57%. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend was Monday, September 16th. Altria Group’s dividend payout ratio is currently 68.92%.

Altria Group 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.