Dakota Wealth Management purchased a new stake in Altria Group, Inc. (NYSE:MO – Get Rating) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 11,801 shares of the company’s stock, valued at approximately $617,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in MO. GQG Partners LLC increased its stake in Altria Group by 47,901.8% during the fourth quarter. GQG Partners LLC now owns 9,179,381 shares of the company’s stock worth $434,956,000 after acquiring an additional 9,160,258 shares during the last quarter. State Street Corp increased its stake in Altria Group by 3.4% during the fourth quarter. State Street Corp now owns 71,762,274 shares of the company’s stock worth $3,465,063,000 after acquiring an additional 2,371,300 shares during the last quarter. BlackRock Inc. increased its stake in Altria Group by 1.8% during the first quarter. BlackRock Inc. now owns 119,840,218 shares of the company’s stock worth $6,261,650,000 after acquiring an additional 2,098,737 shares during the last quarter. Capital International Investors increased its stake in Altria Group by 8.2% during the fourth quarter. Capital International Investors now owns 17,727,541 shares of the company’s stock worth $840,078,000 after acquiring an additional 1,348,687 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Altria Group by 3.3% during 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 acquiring an additional 1,103,432 shares during the last quarter. Institutional investors and hedge funds own 59.75% of the company’s stock.
Analyst Upgrades and Downgrades
MO has been the subject of several recent analyst reports. StockNews.com cut Altria Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 6th. Bank of America cut their target price on Altria Group from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, July 8th. Deutsche Bank Aktiengesellschaft lowered their price target on Altria Group from $60.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, July 1st. Cowen lowered 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, June 27th. Finally, Barclays lowered Altria Group from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $53.00 to $36.00 in a research report on Wednesday, June 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Altria Group currently has a consensus rating of “Hold” and a consensus price target of $47.00.
Altria Group Trading Up 0.4 %
NYSE:MO opened at $45.15 on Friday. The firm has a market cap of $81.31 billion, a PE ratio of 46.55, a price-to-earnings-growth ratio of 1.41 and a beta of 0.59. The stock has a fifty day moving average price of $44.01 and a 200 day moving average price of $49.09. 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 earnings results on Thursday, July 28th. The company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. The firm had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.42 billion. Altria Group had a negative return on equity of 488.86% and a net margin of 6.88%. Altria Group’s revenue was down 4.3% compared to the same quarter last year. During the same period last year, the business posted $1.23 earnings per share. Equities analysts forecast that Altria Group, Inc. will post 4.85 EPS for the current year.
Altria Group Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 11th. Investors of record on Thursday, September 15th will be issued a $0.94 dividend. The ex-dividend date is Wednesday, September 14th. This is a positive change from Altria Group’s previous quarterly dividend of $0.90. This represents a $3.76 dividend on an annualized basis and a yield of 8.33%. Altria Group’s dividend payout ratio (DPR) is 371.13%.
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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