HBK Investments L P grew its holdings in Altria Group, Inc. (NYSE:MO – Get Rating) by 137.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,442 shares of the company’s stock after purchasing an additional 7,788 shares during the quarter. HBK Investments L P’s holdings in Altria Group were worth $702,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. 1832 Asset Management L.P. purchased a new position in shares of Altria Group in the first quarter valued at approximately $41,000. First Wilshire Securities Management Inc. purchased a new position in shares of Altria Group in the first quarter valued at approximately $218,000. Journey Strategic Wealth LLC purchased a new position in shares of Altria Group in the first quarter valued at approximately $223,000. Captrust Financial Advisors boosted its stake in shares of Altria Group by 61.2% in the first quarter. Captrust Financial Advisors now owns 293,002 shares of the company’s stock valued at $15,539,000 after purchasing an additional 111,258 shares during the period. Finally, IHT Wealth Management LLC lifted its stake in Altria Group by 7.3% in the first quarter. IHT Wealth Management LLC now owns 33,601 shares of the company’s stock worth $1,756,000 after acquiring an additional 2,285 shares during the last quarter. Hedge funds and other institutional investors own 59.75% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the stock. Cowen decreased their price target on shares of Altria Group from $56.00 to $45.00 and set a “market perform” rating for the company in a research note on Monday, June 27th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Altria Group from $60.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, July 1st. Morgan Stanley upgraded shares of Altria Group from an “underweight” rating to an “equal weight” rating and decreased their price target for the stock from $47.00 to $43.00 in a research note on Friday, June 24th. StockNews.com downgraded shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 6th. Finally, Bank of America decreased their price target on shares of Altria Group from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, July 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $47.00.
Altria Group Trading Down 0.9 %
Altria Group (NYSE:MO – Get Rating) last announced 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 for the quarter, compared to analysts’ expectations of $5.42 billion. Altria Group had a net margin of 6.88% and a negative return on equity of 488.86%. The company’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.23 EPS. On average, equities research analysts predict that Altria Group, Inc. will post 4.85 earnings per share for the current year.
Altria Group Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 11th. Stockholders of record on Thursday, September 15th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 8.33%. This is a boost from Altria Group’s previous quarterly dividend of $0.90. The ex-dividend date is Wednesday, September 14th. Altria Group’s payout ratio is presently 371.13%.
Altria Group Company Profile
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.
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