Cadence Capital Management LLC lowered its stake in shares of Altria Group, Inc. (NYSE:MO) by 20.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,590 shares of the company’s stock after selling 16,447 shares during the period. Cadence Capital Management LLC’s holdings in Altria Group were worth $2,534,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Acorn Wealth Advisors LLC boosted its position in Altria Group by 3.5% during the second quarter. Acorn Wealth Advisors LLC now owns 6,914 shares of the company’s stock worth $271,000 after acquiring an additional 236 shares during the last quarter. Empirical Finance LLC boosted its position in Altria Group by 3.7% during the second quarter. Empirical Finance LLC now owns 6,985 shares of the company’s stock worth $274,000 after acquiring an additional 249 shares during the last quarter. AlphaMark Advisors LLC boosted its position in Altria Group by 12.6% during the second quarter. AlphaMark Advisors LLC now owns 2,415 shares of the company’s stock worth $95,000 after acquiring an additional 270 shares during the last quarter. Walled Lake Planning & Wealth Management LLC boosted its position in Altria Group by 0.3% during the second quarter. Walled Lake Planning & Wealth Management LLC now owns 81,145 shares of the company’s stock worth $3,185,000 after acquiring an additional 278 shares during the last quarter. Finally, Regent Investment Management LLC boosted its holdings in Altria Group by 5.4% in the 2nd quarter. Regent Investment Management LLC now owns 5,865 shares of the company’s stock valued at $230,000 after purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 62.61% of the company’s stock.
Several research firms have weighed in on MO. ValuEngine lowered shares of Altria Group from a “sell” rating to a “strong sell” rating in a report on Thursday, August 6th. Citigroup boosted their target price on shares of Altria Group from $45.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Piper Sandler reiterated a “buy” rating and issued a $57.00 target price on shares of Altria Group in a report on Tuesday, July 7th. Barclays lowered shares of Altria Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $50.00 to $43.00 in a report on Wednesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Altria Group from $50.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $49.67.
MO traded down $0.17 during trading hours on Friday, hitting $39.53. 5,972,572 shares of the company’s stock were exchanged, compared to its average volume of 9,893,298. Altria Group, Inc. has a 12-month low of $30.95 and a 12-month high of $51.78. The firm has a 50 day moving average of $41.07 and a 200 day moving average of $40.27. The firm has a market cap of $73.46 billion, a P/E ratio of -76.02, a price-to-earnings-growth ratio of 2.35 and a beta of 0.51. The company has a current ratio of 0.75, a quick ratio of 0.54 and a debt-to-equity ratio of 4.76.
Altria Group (NYSE:MO) last announced its earnings results on Tuesday, July 28th. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.03. Altria Group had a negative net margin of 3.57% and a positive return on equity of 109.11%. The firm had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5.08 billion. During the same period in the prior year, the firm earned $1.10 EPS. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, research analysts expect that Altria Group, Inc. will post 4.31 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Tuesday, September 15th were paid a dividend of $0.86 per share. This is an increase from Altria Group’s previous quarterly dividend of $0.84. This represents a $3.44 annualized dividend and a yield of 8.70%. The ex-dividend date was Monday, September 14th. Altria Group’s dividend payout ratio is presently 81.52%.
Altria Group Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars 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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