Telemus Capital LLC trimmed its stake in Altria Group, Inc. (NYSE:MO – Free Report) by 1.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,144 shares of the company’s stock after selling 462 shares during the period. Telemus Capital LLC’s holdings in Altria Group were worth $1,230,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC grew its holdings in shares of Altria Group by 108,222.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 18,590,308 shares of the company’s stock worth $849,763,000 after purchasing an additional 18,573,146 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Altria Group by 8.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 44,066,327 shares of the company’s stock valued at $2,000,861,000 after acquiring an additional 3,516,646 shares during the period. FMR LLC raised its position in Altria Group by 8.3% in the first quarter. FMR LLC now owns 25,132,929 shares of the company’s stock worth $1,121,431,000 after purchasing an additional 1,926,492 shares in the last quarter. Morgan Stanley lifted its stake in Altria Group by 9.8% during the fourth quarter. Morgan Stanley now owns 17,105,285 shares of the company’s stock worth $781,883,000 after purchasing an additional 1,531,337 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in Altria Group by 64.1% during the first quarter. Renaissance Technologies LLC now owns 3,771,516 shares of the company’s stock valued at $197,062,000 after purchasing an additional 1,472,800 shares in the last quarter. 58.94% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the company. Jefferies Financial Group lowered their price target on Altria Group from $56.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, August 22nd. StockNews.com assumed coverage on shares of Altria Group in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $47.50.
Altria Group Stock Down 1.3 %
Shares of NYSE MO opened at $43.53 on Friday. The firm’s 50-day simple moving average is $44.38 and its 200 day simple moving average is $45.05. The company has a market cap of $77.25 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 2.35 and a beta of 0.59. Altria Group, Inc. has a 12-month low of $40.35 and a 12-month high of $51.57.
Altria Group (NYSE:MO – Get Free Report) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $1.31 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.31. Altria Group had a negative return on equity of 225.61% and a net margin of 27.40%. The firm had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter in the prior year, the business earned $1.26 EPS. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, equities analysts expect that Altria Group, Inc. will post 5 earnings per share for the current year.
Altria Group Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 15th will be paid a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 9.01%. The ex-dividend date is Thursday, September 14th. This is a positive change from Altria Group’s previous quarterly dividend of $0.94. Altria Group’s dividend payout ratio (DPR) is 102.89%.
Altria Group Profile
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; moist smokeless tobacco products and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; and on! oral nicotine pouches.
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