Altria Group, Inc. (NYSE:MO) Shares Purchased by Gradient Investments LLC

Gradient Investments LLC raised its position in Altria Group, Inc. (NYSE:MOGet Rating) by 12.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,988 shares of the company’s stock after purchasing an additional 1,248 shares during the quarter. Gradient Investments LLC’s holdings in Altria Group were worth $574,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in MO. Loomis Sayles & Co. L P acquired a new stake in Altria Group in the first quarter worth approximately $25,000. Bromfield Sneider Wealth Advisors acquired a new position in Altria Group during the first quarter worth about $27,000. Rinkey Investments acquired a new stake in Altria Group in the 4th quarter valued at about $30,000. Reitz Capital Advisors LLC acquired a new stake in Altria Group in the 1st quarter valued at about $31,000. Finally, DB Wealth Management Group LLC boosted its holdings in Altria Group by 286.2% during the first quarter. DB Wealth Management Group LLC now owns 587 shares of the company’s stock worth $31,000 after buying an additional 435 shares in the last quarter. Institutional investors own 59.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MO. Deutsche Bank Aktiengesellschaft dropped their price target on Altria Group from $60.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, July 1st. Bank of America reduced 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 report on Friday, July 8th. Cowen lowered their price objective on shares of Altria Group from $56.00 to $45.00 and set a “market perform” rating on the stock in a research report on Monday, June 27th. Barclays downgraded shares of Altria Group from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $53.00 to $36.00 in a research report on Wednesday, June 29th. Finally, Cowen dropped their price target on shares of Altria Group from $56.00 to $45.00 and set a “market perform” rating on the stock in a research note on Monday, June 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Altria Group currently has an average rating of “Hold” and an average price target of $47.00.

Altria Group Price Performance

NYSE MO opened at $42.01 on Friday. Altria Group, Inc. has a fifty-two week low of $41.00 and a fifty-two week high of $57.05. The stock’s 50-day moving average is $44.17 and its two-hundred day moving average is $48.89. The firm has a market cap of $75.65 billion, a P/E ratio of 43.31, a price-to-earnings-growth ratio of 1.36 and a beta of 0.59.

Altria Group (NYSE:MOGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The company reported $1.26 earnings per share 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 the consensus estimate of $5.42 billion. Altria Group had a negative return on equity of 488.86% and a net margin of 6.88%. The firm’s revenue was down 4.3% compared to the same quarter last year. During the same period last year, the business earned $1.23 EPS. On average, equities analysts expect that Altria Group, Inc. will post 4.85 EPS for the current year.

Altria Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 11th. Stockholders 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 8.95%. This is a boost from Altria Group’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Wednesday, September 14th. Altria Group’s payout ratio is presently 371.13%.

About Altria Group

(Get Rating)

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

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