NewEdge Wealth LLC Acquires 1,316 Shares of Altria Group, Inc. (NYSE:MO)

NewEdge Wealth LLC lifted its stake in shares of Altria Group, Inc. (NYSE:MOFree Report) by 3.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,997 shares of the company’s stock after acquiring an additional 1,316 shares during the quarter. NewEdge Wealth LLC’s holdings in Altria Group were worth $1,682,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Capital World Investors boosted its position in shares of Altria Group by 8.5% during the 2nd quarter. Capital World Investors now owns 96,401,945 shares of the company’s stock valued at $4,367,008,000 after acquiring an additional 7,546,851 shares during the last quarter. State Street Corp raised its holdings in Altria Group by 1.8% during the 2nd quarter. State Street Corp now owns 70,564,529 shares of the company’s stock valued at $3,262,710,000 after buying an additional 1,240,150 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Altria Group by 3.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 43,615,505 shares of the company’s stock valued at $1,962,702,000 after buying an additional 1,585,048 shares during the period. Geode Capital Management LLC increased its stake in Altria Group by 3.3% in the second quarter. Geode Capital Management LLC now owns 37,025,033 shares of the company’s stock worth $1,672,836,000 after purchasing an additional 1,168,982 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Altria Group by 5.1% in the third quarter. Bank of New York Mellon Corp now owns 24,517,169 shares of the company’s stock worth $990,002,000 after purchasing an additional 1,192,266 shares during the period. 58.94% of the stock is currently owned by institutional investors.

Altria Group Stock Performance

Shares of MO stock opened at $40.60 on Wednesday. Altria Group, Inc. has a fifty-two week low of $39.06 and a fifty-two week high of $48.11. The firm has a market capitalization of $71.81 billion, a price-to-earnings ratio of 8.88, a PEG ratio of 2.64 and a beta of 0.66. The stock’s 50-day simple moving average is $41.11 and its 200-day simple moving average is $42.11.

Altria Group (NYSE:MOGet Free Report) last issued its earnings results on Thursday, February 1st. The company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.01. Altria Group had a negative return on equity of 243.71% and a net margin of 33.21%. The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same quarter in the prior year, the firm earned $1.18 earnings per share. Altria Group’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, equities analysts forecast that Altria Group, Inc. will post 5.08 earnings per share for the current year.

Altria Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Thursday, December 21st were paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 9.66%. The ex-dividend date was Wednesday, December 20th. Altria Group’s payout ratio is 85.78%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MO. Jefferies Financial Group raised their price target on Altria Group from $55.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, October 13th. UBS Group reaffirmed a “sell” rating and set a $36.10 price objective on shares of Altria Group in a research report on Tuesday, January 23rd. Citigroup dropped their price objective on Altria Group from $46.50 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 18th. Finally, StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $47.22.

View Our Latest Analysis on MO

About Altria Group

(Free Report)

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

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