Mutual Advisors LLC lifted its stake in Altria Group, Inc. (NYSE:MO – Free Report) by 4.3% in the second quarter, Holdings Channel.com reports. The firm owned 112,196 shares of the company’s stock after buying an additional 4,638 shares during the period. Mutual Advisors LLC’s holdings in Altria Group were worth $6,714,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of MO. Mattson Financial Services LLC purchased a new stake in shares of Altria Group in the first quarter valued at $25,000. Global X Japan Co. Ltd. purchased a new position in shares of Altria Group during the 2nd quarter worth about $25,000. Carderock Capital Management Inc. bought a new position in Altria Group during the 2nd quarter valued at about $26,000. Inlight Wealth Management LLC purchased a new stake in Altria Group in the 1st quarter worth about $31,000. Finally, Sierra Ocean LLC raised its position in Altria Group by 226.3% in the 1st quarter. Sierra Ocean LLC now owns 509 shares of the company’s stock worth $31,000 after purchasing an additional 353 shares during the period. Institutional investors own 57.41% of the company’s stock.
Altria Group Stock Up 0.7%
MO opened at $65.41 on Wednesday. The stock’s fifty day moving average is $65.83 and its two-hundred day moving average is $61.32. The company has a market capitalization of $109.87 billion, a P/E ratio of 12.65, a PEG ratio of 3.61 and a beta of 0.55. Altria Group, Inc. has a 52 week low of $48.86 and a 52 week high of $68.60.
Altria Group Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Monday, September 15th were given a dividend of $1.06 per share. This is a positive change from Altria Group’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Monday, September 15th. This represents a $4.24 dividend on an annualized basis and a yield of 6.5%. Altria Group’s payout ratio is 82.01%.
Wall Street Analysts Forecast Growth
MO has been the topic of a number of analyst reports. Stifel Nicolaus set a $72.00 target price on Altria Group in a research note on Thursday, August 21st. Barclays boosted their price objective on Altria Group from $49.00 to $57.00 and gave the company an “underweight” rating in a report on Wednesday, August 6th. Jefferies Financial Group started coverage on Altria Group in a research note on Wednesday, July 9th. They issued an “underperform” rating and a $50.00 target price on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Altria Group in a research report on Wednesday, October 8th. Finally, Bank of America upped their price target on shares of Altria Group from $64.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, August 22nd. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Altria Group presently has an average rating of “Hold” and an average target price of $62.11.
Get Our Latest Stock Report on Altria Group
Altria Group Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.
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