Brookstone Capital Management Raises Holdings in Altria Group, Inc. (NYSE:MO)

Brookstone Capital Management raised its holdings in shares of Altria Group, Inc. (NYSE:MOGet Rating) by 26.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 70,900 shares of the company’s stock after purchasing an additional 14,947 shares during the period. Brookstone Capital Management’s holdings in Altria Group were worth $3,861,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Dark Forest Capital Management LP purchased a new position in shares of Altria Group in the 3rd quarter worth $203,000. Point72 Asset Management L.P. purchased a new position in shares of Altria Group in the 3rd quarter worth $354,000. Verition Fund Management LLC purchased a new position in shares of Altria Group in the 3rd quarter worth $378,000. Voloridge Investment Management LLC purchased a new position in shares of Altria Group in the 3rd quarter worth $1,222,000. Finally, Kozak & Associates Inc. purchased a new position in shares of Altria Group in the 3rd quarter worth $53,000. Institutional investors and hedge funds own 59.05% of the company’s stock.

NYSE:MO opened at $41.50 on Thursday. The business’s 50-day simple moving average is $52.51 and its two-hundred day simple moving average is $51.04. The stock has a market cap of $75.14 billion, a PE ratio of 25.31, a P/E/G ratio of 2.34 and a beta of 0.50. Altria Group, Inc. has a 52 week low of $41.00 and a 52 week high of $57.05.

Altria Group (NYSE:MOGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.03. The business had revenue of $4.82 billion for the quarter, compared to analysts’ expectations of $4.88 billion. Altria Group had a negative return on equity of 2,506.92% and a net margin of 11.64%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the firm earned $1.07 earnings per share. As a group, research analysts forecast that Altria Group, Inc. will post 4.84 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 11th. Shareholders 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 8.67%. Altria Group’s dividend payout ratio is presently 219.51%.

A number of equities analysts have recently issued reports on MO shares. Deutsche Bank Aktiengesellschaft raised their price target on Altria Group from $54.00 to $60.00 in a research note on Friday, April 29th. Morgan Stanley lowered their target price on Altria Group from $50.00 to $47.00 and set an “underweight” rating on the stock in a research report on Friday, June 17th. Cowen lifted their target price on Altria Group from $51.00 to $53.00 in a research report on Thursday, April 7th. Cowen lifted their target price on Altria Group from $51.00 to $53.00 in a research report on Thursday, April 7th. Finally, Royal Bank of Canada downgraded Altria Group from an “outperform” rating to a “sector perform” rating and set a $53.00 target price on the stock. in a research report on Monday, March 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $53.25.

About Altria Group (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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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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