ACG Wealth decreased its holdings in shares of Altria Group Inc (NYSE:MO) by 9.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,900 shares of the company’s stock after selling 3,540 shares during the quarter. ACG Wealth’s holdings in Altria Group were worth $2,213,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in MO. Solaris Asset Management LLC grew its position in Altria Group by 65.7% in the 2nd quarter. Solaris Asset Management LLC now owns 1,405 shares of the company’s stock worth $105,000 after purchasing an additional 557 shares during the last quarter. CKW Financial Group bought a new position in Altria Group in the 2nd quarter worth about $109,000. Balentine LLC grew its position in Altria Group by 32.4% in the 2nd quarter. Balentine LLC now owns 1,460 shares of the company’s stock worth $109,000 after purchasing an additional 357 shares during the last quarter. Northwest Investment Counselors LLC grew its position in Altria Group by 557.0% in the 3rd quarter. Northwest Investment Counselors LLC now owns 1,820 shares of the company’s stock worth $115,000 after purchasing an additional 1,543 shares during the last quarter. Finally, INR Advisory Services LLC bought a new position in Altria Group in the 2nd quarter worth about $134,000. Hedge funds and other institutional investors own 62.64% of the company’s stock.
Several research firms have commented on MO. Berenberg Bank restated a “hold” rating on shares of Altria Group in a research report on Tuesday, October 31st. Vetr upgraded shares of Altria Group from a “sell” rating to a “hold” rating and set a $69.29 target price for the company in a research report on Thursday, December 28th. UBS Group decreased their target price on shares of Altria Group from $72.00 to $68.00 and set a “neutral” rating for the company in a research report on Friday, October 27th. Wells Fargo & Co upped their target price on shares of Altria Group from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, January 4th. Finally, Cowen upgraded shares of Altria Group from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $64.00 to $71.00 in a research report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $72.87.
Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, October 26th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. The business had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Altria Group had a net margin of 60.37% and a return on equity of 49.43%. The business’s revenue was down 1.8% on a year-over-year basis. During the same period last year, the firm posted $0.82 earnings per share. analysts anticipate that Altria Group Inc will post 3.28 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Thursday, December 21st were issued a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 3.79%. The ex-dividend date was Wednesday, December 20th. Altria Group’s dividend payout ratio (DPR) is presently 33.00%.
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About Altria Group
Altria Group, Inc is a holding company. The Company’s segments include smokeable products, smokeless products and wine. The Company’s subsidiaries include Philip Morris USA Inc (PM USA), which is engaged in the manufacture and sale of cigarettes in the United States; John Middleton Co (Middleton), which is engaged in the manufacture and sale of machine-made cigars and pipe tobacco, and UST LLC (UST), which, through its subsidiaries, including U.S.
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