Nations Financial Group Inc. IA ADV Sells 271 Shares of Altria Group, Inc. (NYSE:MO)

Nations Financial Group Inc. IA ADV trimmed its position in Altria Group, Inc. (NYSE:MO) by 1.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,182 shares of the company’s stock after selling 271 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Altria Group were worth $775,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. MFA Wealth Advisors LLC purchased a new position in Altria Group during the 2nd quarter worth $27,000. Hobbs Group Advisors LLC purchased a new stake in shares of Altria Group during the second quarter worth about $30,000. Valley Wealth Managers Inc. increased its holdings in shares of Altria Group by 63.9% during the second quarter. Valley Wealth Managers Inc. now owns 667 shares of the company’s stock valued at $30,000 after acquiring an additional 260 shares in the last quarter. Lynx Investment Advisory purchased a new position in shares of Altria Group in the 2nd quarter valued at approximately $44,000. Finally, Covestor Ltd boosted its stake in Altria Group by 33.4% in the 1st quarter. Covestor Ltd now owns 1,047 shares of the company’s stock worth $46,000 after purchasing an additional 262 shares in the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Stock Up 0.9 %

Shares of MO stock opened at $54.44 on Wednesday. Altria Group, Inc. has a 52-week low of $39.25 and a 52-week high of $55.05. The stock has a market cap of $92.27 billion, a PE ratio of 9.20, a price-to-earnings-growth ratio of 3.07 and a beta of 0.64. The business has a 50-day simple moving average of $51.50 and a 200-day simple moving average of $48.97.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.03. The company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $5.33 billion. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. Altria Group’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.28 earnings per share. Sell-side analysts anticipate that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 16th were paid a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 7.49%. The ex-dividend date was Monday, September 16th. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s payout ratio is currently 68.92%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MO shares. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Stifel Nicolaus upped their target price on Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Citigroup raised their target price on Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Bank of America dropped their price target on Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Two investment 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $51.33.

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.