B. Riley Wealth Advisors Inc. increased its position in shares of Altria Group, Inc. (NYSE:MO – Get Rating) by 14.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 113,293 shares of the company’s stock after buying an additional 14,257 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Altria Group were worth $4,576,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of MO. Loomis Sayles & Co. L P bought a new stake in Altria Group in the 1st quarter valued at $25,000. 1832 Asset Management L.P. bought a new stake in Altria Group in the 1st quarter valued at $41,000. McClarren Financial Advisors Inc. bought a new stake in Altria Group in the 3rd quarter valued at $48,000. Atlas Capital Advisors LLC boosted its holdings in Altria Group by 199.7% in the 2nd quarter. Atlas Capital Advisors LLC now owns 1,190 shares of the company’s stock valued at $50,000 after purchasing an additional 793 shares during the period. Finally, Almanack Investment Partners LLC. bought a new stake in Altria Group in the 3rd quarter valued at $58,000. 58.68% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on MO. StockNews.com began coverage on shares of Altria Group in a report on Thursday. They issued a “buy” rating for the company. Morgan Stanley increased their price target on shares of Altria Group from $43.00 to $46.00 and gave the company an “equal weight” rating in a report on Monday, January 23rd. Finally, Citigroup increased their price target on shares of Altria Group from $46.50 to $49.50 and gave the company a “neutral” rating in a report on Tuesday, February 7th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $47.13.
Altria Group Stock Down 1.5 %
Altria Group (NYSE:MO – Get Rating) last announced its earnings results on Wednesday, February 1st. The company reported $1.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.18. The business had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $5.15 billion. Altria Group had a net margin of 22.97% and a negative return on equity of 284.29%. The firm’s revenue for the quarter was down 18.7% on a year-over-year basis. During the same quarter last year, the company posted $1.09 EPS. On average, equities analysts anticipate that Altria Group, Inc. will post 5.07 earnings per share for the current year.
Altria Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, March 24th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 8.14%. The ex-dividend date is Thursday, March 23rd. Altria Group’s dividend payout ratio (DPR) is currently 117.87%.
Altria Group Profile
Altria Group, Inc operates as a holding company, which engages in the manufacture and sale of cigarettes in the United States. It operates through the following segments: Smokeable Products, Oral tobacco products, and Wine. The Smokeable Products segment consists of cigarettes manufactured and sold by PM USA and machine-made large cigars and pipe tobacco manufactured and sold by Middleton.
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