Walleye Capital LLC bought a new stake in Altria Group, Inc. (NYSE:MO – Get Rating) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,607 shares of the company’s stock, valued at approximately $450,000.
A number of other hedge funds have also recently modified their holdings of the stock. Intrua Financial LLC increased its holdings in shares of Altria Group by 1.1% in the 1st quarter. Intrua Financial LLC now owns 18,003 shares of the company’s stock valued at $941,000 after acquiring an additional 200 shares during the period. Jmac Enterprises LLC increased its stake in Altria Group by 4.7% in the first quarter. Jmac Enterprises LLC now owns 4,490 shares of the company’s stock valued at $235,000 after purchasing an additional 200 shares during the period. Orca Investment Management LLC raised its holdings in shares of Altria Group by 1.9% in the first quarter. Orca Investment Management LLC now owns 10,745 shares of the company’s stock valued at $561,000 after buying an additional 201 shares during the last quarter. ICW Investment Advisors LLC boosted its stake in shares of Altria Group by 0.9% during the first quarter. ICW Investment Advisors LLC now owns 22,843 shares of the company’s stock worth $1,194,000 after buying an additional 205 shares during the period. Finally, Ameritas Advisory Services LLC grew its holdings in shares of Altria Group by 0.5% during the first quarter. Ameritas Advisory Services LLC now owns 38,866 shares of the company’s stock worth $2,031,000 after buying an additional 209 shares during the last quarter. 59.75% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have weighed in on the company. Cowen decreased their price objective 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. Barclays cut shares of Altria Group from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $53.00 to $36.00 in a research note on Wednesday, June 29th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Altria Group from $60.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, July 1st. Cowen cut 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 report on Monday, June 27th. Finally, Morgan Stanley upgraded shares of Altria Group from an “underweight” rating to an “equal weight” rating and reduced their price objective for the company from $47.00 to $43.00 in a research report on Friday, June 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Altria Group currently has an average rating of “Hold” and an average target price of $47.00.
Altria Group Stock Performance
Altria Group (NYSE:MO – Get Rating) last announced its earnings results on Thursday, July 28th. The company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. Altria Group had a net margin of 6.88% and a negative return on equity of 488.86%. The company had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.42 billion. During the same quarter in the previous year, the business posted $1.23 earnings per share. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Altria Group, Inc. will post 4.85 EPS for the current fiscal year.
Altria Group Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 11th. Stockholders of record on Thursday, September 15th will be given a $0.94 dividend. This is an increase from Altria Group’s previous quarterly dividend of $0.90. This represents a $3.76 annualized dividend and a dividend yield of 8.69%. The ex-dividend date is Wednesday, September 14th. Altria Group’s dividend payout ratio is currently 387.63%.
Altria Group 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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