Crawford Investment Counsel Inc. Purchases 32,302 Shares of Altria Group, Inc. (NYSE:MO)

Crawford Investment Counsel Inc. lifted its position in Altria Group, Inc. (NYSE:MOGet Rating) by 10.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 338,407 shares of the company’s stock after buying an additional 32,302 shares during the quarter. Crawford Investment Counsel Inc.’s holdings in Altria Group were worth $17,682,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. AE Wealth Management LLC grew its stake in shares of Altria Group by 14.9% in the 1st quarter. AE Wealth Management LLC now owns 195,595 shares of the company’s stock valued at $10,220,000 after buying an additional 25,413 shares in the last quarter. Abacus Planning Group Inc. bought a new stake in Altria Group during the first quarter worth approximately $227,000. Oarsman Capital Inc. bought a new stake in Altria Group during the first quarter worth approximately $312,000. Allworth Financial LP boosted its position in Altria Group by 12.9% during the first quarter. Allworth Financial LP now owns 58,262 shares of the company’s stock worth $3,044,000 after purchasing an additional 6,642 shares during the period. Finally, Krane Funds Advisors LLC bought a new stake in Altria Group during the first quarter worth approximately $385,000. Institutional investors own 59.75% of the company’s stock.

Altria Group Trading Up 0.9 %

Shares of NYSE MO opened at $45.57 on Friday. The business has a fifty day simple moving average of $44.07 and a 200 day simple moving average of $49.06. The firm has a market capitalization of $82.06 billion, a price-to-earnings ratio of 46.98, a PEG ratio of 1.43 and a beta of 0.59. Altria Group, Inc. has a one year low of $41.00 and a one year high of $57.05.

Altria Group (NYSE:MOGet Rating) last issued its earnings results on Thursday, July 28th. The company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. The business had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.42 billion. Altria Group had a negative return on equity of 488.86% and a net margin of 6.88%. Altria Group’s revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.23 earnings per share. On average, research analysts anticipate that Altria Group, Inc. will post 4.85 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 11th. Investors of record on Thursday, September 15th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 8.25%. This is a positive change from Altria Group’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Wednesday, September 14th. Altria Group’s dividend payout ratio is presently 371.13%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Barclays cut Altria Group from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $53.00 to $36.00 in a research report on Wednesday, June 29th. StockNews.com cut Altria Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 6th. Cowen decreased their target price on Altria Group from $56.00 to $45.00 and set a “market perform” rating for the company in a research report on Monday, June 27th. Bank of America cut their price target on Altria Group from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, July 8th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Altria Group from $60.00 to $46.00 and set a “buy” rating for the company in a report on Friday, July 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $47.00.

About Altria Group

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Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company provides cigarettes primarily under the Marlboro brand; cigars and pipe tobacco principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands, as well as provides on! oral nicotine pouches.

See Also

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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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