Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Altria Group, Inc. (NYSE:MO – Get Rating) by 3.8% in the first quarter, HoldingsChannel.com reports. The fund owned 30,822 shares of the company’s stock after acquiring an additional 1,134 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Altria Group were worth $1,625,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also modified their holdings of the stock. State Street Corp increased its position in shares of Altria Group by 3.4% during the fourth quarter. State Street Corp now owns 71,762,274 shares of the company’s stock valued at $3,465,063,000 after acquiring an additional 2,371,300 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Altria Group by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. Now owns 34,123,753 shares of the company’s stock worth $1,617,126,000 after buying an additional 1,103,432 shares during the last quarter. Geode Capital Management LLC increased its position in Altria Group by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 30,391,914 shares of the company’s stock worth $1,437,087,000 after buying an additional 644,221 shares during the last quarter. Capital International Investors increased its position in Altria Group by 8.2% in the fourth quarter. Capital International Investors now owns 17,727,541 shares of the company’s stock worth $840,078,000 after buying an additional 1,348,687 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Altria Group by 0.4% in the fourth quarter. Legal & General Group Plc now owns 11,066,115 shares of the company’s stock worth $524,424,000 after buying an additional 38,707 shares during the last quarter. 59.05% of the stock is owned by institutional investors.
A number of research firms have issued reports on MO. Royal Bank of Canada downgraded Altria Group from an “outperform” rating to a “sector perform” rating and set a $53.00 target price for the company. in a research report on Monday, March 28th. Cowen decreased their target price on Altria Group from $56.00 to $45.00 and set a “market perform” rating for the company in a research report on Monday. StockNews.com began coverage on Altria Group in a research report on Thursday, March 31st. They issued a “buy” rating for the company. The Goldman Sachs Group raised Altria Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $48.00 to $57.00 in a research report on Tuesday, March 22nd. Finally, Cowen reduced their price target on Altria Group from $56.00 to $45.00 and set a “market perform” rating for the company in a research report on Monday. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $50.75.
MO opened at $43.19 on Wednesday. The company has a market cap of $78.20 billion, a P/E ratio of 26.34, a P/E/G ratio of 2.24 and a beta of 0.50. The business’s 50-day moving average price is $51.56 and its 200-day moving average price is $51.04. Altria Group, Inc. has a 12 month low of $41.00 and a 12 month high of $57.05.
Altria Group (NYSE:MO – Get Rating) last released its quarterly earnings data on Thursday, April 28th. The company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.09 by $0.03. The firm had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.88 billion. Altria Group had a negative return on equity of 2,506.92% and a net margin of 11.64%. The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.07 earnings per share. Analysts expect that Altria Group, Inc. will post 4.84 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 11th. Investors of record on Wednesday, June 15th will be issued a dividend of $0.90 per share. The ex-dividend date is Tuesday, June 14th. This represents a $3.60 dividend on an annualized basis and a yield of 8.34%. Altria Group’s dividend payout ratio is presently 219.51%.
Altria Group Profile (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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