Walleye Capital LLC Invests $450,000 in Altria Group, Inc. (NYSE:MO)

Walleye Capital LLC acquired a new stake in shares of Altria Group, Inc. (NYSE:MOGet Rating) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,607 shares of the company’s stock, valued at approximately $450,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Loomis Sayles & Co. L P bought a new stake in Altria Group in the first quarter worth about $25,000. Bromfield Sneider Wealth Advisors purchased a new stake in Altria Group in the 1st quarter worth approximately $27,000. Rinkey Investments purchased a new stake in shares of Altria Group during the fourth quarter worth $30,000. Reitz Capital Advisors LLC purchased a new position in Altria Group in the first quarter valued at about $31,000. Finally, DB Wealth Management Group LLC grew its stake in Altria Group by 286.2% in the first quarter. DB Wealth Management Group LLC now owns 587 shares of the company’s stock valued at $31,000 after purchasing an additional 435 shares in the last quarter. 59.75% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MO has been the subject of several recent analyst reports. Bank of America decreased their price target 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. Cowen cut their price target on Altria Group from $56.00 to $45.00 and set a “market perform” rating for the company in a report on Monday, June 27th. Deutsche Bank Aktiengesellschaft cut their price target on Altria Group from $60.00 to $46.00 and set a “buy” rating for the company in a report on Friday, July 1st. Barclays cut Altria Group from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $53.00 to $36.00 in a report on Wednesday, June 29th. Finally, Cowen dropped their target price on Altria Group from $56.00 to $45.00 and set a “market perform” rating for the company in a report on Monday, June 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $47.00.

Altria Group Stock Up 0.6 %

NYSE:MO opened at $43.27 on Friday. The company has a market cap of $77.92 billion, a P/E ratio of 44.61, a price-to-earnings-growth ratio of 1.36 and a beta of 0.59. Altria Group, Inc. has a twelve month low of $41.00 and a twelve month high of $57.05. The business has a 50 day moving average price of $44.27 and a two-hundred day moving average price of $48.49.

Altria Group (NYSE:MOGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.01. Altria Group had a negative return on equity of 488.86% and a net margin of 6.88%. The business had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.42 billion. During the same quarter last year, the firm posted $1.23 EPS. The company’s quarterly revenue was down 4.3% on a year-over-year basis. As a group, analysts anticipate that Altria Group, Inc. will post 4.85 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 11th. Investors of record on Thursday, September 15th will be paid a $0.94 dividend. This is an increase from Altria Group’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $3.76 annualized dividend and a yield of 8.69%. Altria Group’s dividend payout ratio is presently 387.63%.

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

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