Seven Eight Capital LP Invests $1.02 Million in Altria Group, Inc. (NYSE:MO)

Seven Eight Capital LP bought a new position in Altria Group, Inc. (NYSE:MO) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 22,776 shares of the company’s stock, valued at approximately $1,016,000.

Other large investors also recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P purchased a new position in Altria Group in the 1st quarter worth $25,000. Ruedi Wealth Management Inc. purchased a new position in shares of Altria Group in the fourth quarter valued at about $30,000. Ellevest Inc. increased its position in shares of Altria Group by 346.7% in the first quarter. Ellevest Inc. now owns 670 shares of the company’s stock valued at $30,000 after acquiring an additional 520 shares during the period. NewSquare Capital LLC increased its position in shares of Altria Group by 153.8% in the first quarter. NewSquare Capital LLC now owns 731 shares of the company’s stock valued at $33,000 after acquiring an additional 443 shares during the period. Finally, Dark Forest Capital Management LP purchased a new position in shares of Altria Group in the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 58.94% of the company’s stock.

Altria Group Price Performance

Shares of NYSE MO opened at $44.08 on Friday. Altria Group, Inc. has a 1 year low of $40.35 and a 1 year high of $51.57. The company’s 50-day moving average is $44.54 and its 200 day moving average is $45.14. The stock has a market capitalization of $78.22 billion, a P/E ratio of 11.57, a P/E/G ratio of 2.33 and a beta of 0.59.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $1.31 EPS for the quarter, hitting the consensus estimate of $1.31. Altria Group had a net margin of 27.40% and a negative return on equity of 225.61%. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same quarter in the previous year, the firm posted $1.26 earnings per share. Altria Group’s quarterly revenue was up 1.2% on a year-over-year basis. Research analysts anticipate that Altria Group, Inc. will post 5 earnings per share for the current year.

Altria Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 15th will be paid a dividend of $0.98 per share. The ex-dividend date is Thursday, September 14th. This represents a $3.92 annualized dividend and a yield of 8.89%. This is a positive change from Altria Group’s previous quarterly dividend of $0.94. Altria Group’s payout ratio is presently 98.69%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MO. StockNews.com began coverage on shares of Altria Group in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. Jefferies Financial Group decreased their price objective on shares of Altria Group from $56.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $47.50.

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; moist smokeless tobacco products and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; and on! oral nicotine pouches.