LSV Asset Management raised its holdings in shares of Altria Group, Inc. (NYSE:MO) by 83.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,597,011 shares of the company’s stock after buying an additional 2,091,256 shares during the quarter. LSV Asset Management owned about 0.25% of Altria Group worth $177,628,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Acorn Wealth Advisors LLC lifted its holdings in shares of 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 buying an additional 236 shares during the last quarter. Empirical Finance LLC raised its stake in shares of Altria Group by 3.7% in the second quarter. Empirical Finance LLC now owns 6,985 shares of the company’s stock valued at $274,000 after purchasing an additional 249 shares in the last quarter. AlphaMark Advisors LLC raised its stake in shares of Altria Group by 12.6% in the second quarter. AlphaMark Advisors LLC now owns 2,415 shares of the company’s stock valued at $95,000 after purchasing an additional 270 shares in the last quarter. Walled Lake Planning & Wealth Management LLC raised its stake in shares of Altria Group by 0.3% in the second quarter. Walled Lake Planning & Wealth Management LLC now owns 81,145 shares of the company’s stock valued at $3,185,000 after purchasing an additional 278 shares in the last quarter. Finally, Cadence Bank NA raised its stake in shares of Altria Group by 1.9% in the third quarter. Cadence Bank NA now owns 15,996 shares of the company’s stock valued at $618,000 after purchasing an additional 293 shares in the last quarter. Institutional investors own 62.61% of the company’s stock.
A number of analysts have weighed in on MO shares. Piper Sandler reiterated a “buy” rating and issued a $57.00 price target on shares of Altria Group in a research report on Tuesday, July 7th. ValuEngine cut Altria Group from a “sell” rating to a “strong sell” rating in a report on Thursday, August 6th. Barclays cut Altria Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $50.00 to $43.00 in a report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft raised their price target on Altria Group from $50.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Finally, Citigroup raised their price target on Altria Group from $45.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. Altria Group currently has a consensus rating of “Buy” and an average price target of $49.67.
Altria Group stock traded down $0.71 during midday trading on Monday, reaching $38.37. The stock had a trading volume of 149,851 shares, compared to its average volume of 9,739,037. The firm’s fifty day simple moving average is $40.43 and its 200-day simple moving average is $40.33. Altria Group, Inc. has a 1-year low of $30.95 and a 1-year high of $51.78. The stock has a market capitalization of $72.63 billion, a P/E ratio of -75.15, a price-to-earnings-growth ratio of 2.27 and a beta of 0.51. The company has a debt-to-equity ratio of 4.76, a quick ratio of 0.54 and a current ratio of 0.75.
Altria Group (NYSE:MO) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.03. Altria Group had a positive return on equity of 109.11% and a negative net margin of 3.57%. The firm had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5.08 billion. During the same period last year, the company earned $1.10 earnings per share. The business’s revenue was down 2.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Altria Group, Inc. will post 4.32 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Tuesday, September 15th were issued a dividend of $0.86 per share. This is a boost from Altria Group’s previous quarterly dividend of $0.84. This represents a $3.44 annualized dividend and a yield of 8.97%. The ex-dividend date was Monday, September 14th. Altria Group’s dividend payout ratio (DPR) 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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