Altria Group, Inc. (NYSE:MO) Shares Sold by Boenning & Scattergood Inc.

Boenning & Scattergood Inc. decreased its position in shares of Altria Group, Inc. (NYSE:MOGet Rating) by 11.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,353 shares of the company’s stock after selling 698 shares during the period. Boenning & Scattergood Inc.’s holdings in Altria Group were worth $224,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Intrua Financial LLC increased its position in Altria Group by 1.1% during the first quarter. Intrua Financial LLC now owns 18,003 shares of the company’s stock worth $941,000 after buying an additional 200 shares during the period. Jmac Enterprises LLC grew its stake in shares of Altria Group by 4.7% in the 1st 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 last quarter. Orca Investment Management LLC grew its stake in shares of Altria Group by 1.9% in the 1st quarter. Orca Investment Management LLC now owns 10,745 shares of the company’s stock valued at $561,000 after purchasing an additional 201 shares during the last quarter. ICW Investment Advisors LLC grew its stake in shares of Altria Group by 0.9% in the 1st quarter. ICW Investment Advisors LLC now owns 22,843 shares of the company’s stock valued at $1,194,000 after purchasing an additional 205 shares during the last quarter. Finally, Ameritas Advisory Services LLC grew its stake in shares of Altria Group by 0.5% in the 1st quarter. Ameritas Advisory Services LLC now owns 38,866 shares of the company’s stock valued at $2,031,000 after purchasing an additional 209 shares during the last quarter. Institutional investors and hedge funds own 59.75% of the company’s stock.

Altria Group Stock Up 0.6 %

NYSE MO opened at $43.27 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 has a market cap of $77.92 billion, a price-to-earnings ratio of 44.61, a price-to-earnings-growth ratio of 1.36 and a beta of 0.59. The business has a fifty day moving average of $44.27 and a 200-day moving average of $48.49.

Altria Group (NYSE:MOGet Rating) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. The company had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.42 billion. Altria Group had a negative return on equity of 488.86% and a net margin of 6.88%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.23 earnings per share. As a group, analysts anticipate that Altria Group, Inc. will post 4.85 EPS for the current year.

Altria Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 11th. Investors of record on Thursday, September 15th will be paid a $0.94 dividend. This is a positive change from Altria Group’s previous quarterly dividend of $0.90. This represents a $3.76 annualized dividend and a yield of 8.69%. The ex-dividend date of this dividend is Wednesday, September 14th. Altria Group’s dividend payout ratio is presently 387.63%.

Analysts Set New Price Targets

Several research analysts have weighed in on MO shares. Deutsche Bank Aktiengesellschaft lowered their target price 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. Cowen decreased their price target on 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. Cowen decreased their price target on 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. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Bank of America decreased their price target on Altria Group from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, July 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $47.00.

Altria Group Profile

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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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