Waterloo Capital L.P. grew its position in shares of Altria Group, Inc. (NYSE:MO – Free Report) by 8.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 65,509 shares of the company’s stock after buying an additional 5,214 shares during the quarter. Waterloo Capital L.P.’s holdings in Altria Group were worth $2,984,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the company. Maryland Capital Advisors Inc. boosted its stake in shares of Altria Group by 154.4% in the first quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock valued at $25,000 after buying an additional 349 shares in the last quarter. BNP Paribas acquired a new stake in Altria Group in the first quarter valued at $27,000. MFA Wealth Advisors LLC purchased a new stake in shares of Altria Group during the 2nd quarter worth $27,000. Pineridge Advisors LLC acquired a new position in shares of Altria Group during the 4th quarter worth $28,000. Finally, Westend Capital Management LLC purchased a new position in shares of Altria Group in the 1st quarter valued at about $29,000. Institutional investors and hedge funds own 57.41% of the company’s stock.
Altria Group Stock Performance
Shares of NYSE:MO opened at $50.50 on Wednesday. The business’s fifty day moving average price is $51.08 and its two-hundred day moving average price is $46.64. The stock has a market cap of $86.74 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 3.07 and a beta of 0.65. Altria Group, Inc. has a one year low of $39.06 and a one year high of $54.95.
Altria Group Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Monday, September 16th will be paid a dividend of $1.02 per share. This is an increase from Altria Group’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Monday, September 16th. This represents a $4.08 annualized dividend and a dividend yield of 8.08%. Altria Group’s dividend payout ratio is presently 85.36%.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the stock. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a report on Friday, June 28th. Argus upgraded Altria Group to a “hold” rating in a report on Friday, May 31st. Stifel Nicolaus raised their price objective on Altria Group from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. UBS Group boosted their target price on Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a research report on Monday, September 9th. Finally, Barclays raised their price target on Altria Group from $43.00 to $45.00 and gave the company an “underweight” rating in a research report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $49.67.
View Our Latest Analysis on Altria Group
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.
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