Raleigh Capital Management Inc. Has $352,000 Stock Holdings in Altria Group, Inc. (NYSE:MO)

Raleigh Capital Management Inc. boosted its holdings in shares of Altria Group, Inc. (NYSE:MOFree Report) by 3.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 8,366 shares of the company’s stock after acquiring an additional 281 shares during the period. Raleigh Capital Management Inc.’s holdings in Altria Group were worth $352,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Loomis Sayles & Co. L P acquired a new position in shares of Altria Group in the 1st quarter valued at $25,000. Altshuler Shaham Ltd acquired a new position in shares of Altria Group in the 3rd quarter valued at $26,000. Nemes Rush Group LLC grew its holdings in shares of Altria Group by 103.2% in the 3rd quarter. Nemes Rush Group LLC now owns 636 shares of the company’s stock valued at $27,000 after buying an additional 323 shares during the period. WFA of San Diego LLC acquired a new position in shares of Altria Group in the 2nd quarter valued at $30,000. Finally, Legacy Financial Group LLC acquired a new position in shares of Altria Group in the 3rd quarter valued at $30,000. Institutional investors and hedge funds own 58.94% of the company’s stock.

Analysts Set New Price Targets

MO has been the topic of several research reports. UBS Group reaffirmed a “sell” rating and issued a $36.10 price objective on shares of Altria Group in a research report on Tuesday, January 23rd. StockNews.com cut shares of Altria Group from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $47.22.

View Our Latest Report on Altria Group

Altria Group Price Performance

Shares of NYSE:MO opened at $44.28 on Friday. The company’s 50-day moving average price is $40.93 and its two-hundred day moving average price is $41.57. Altria Group, Inc. has a one year low of $39.06 and a one year high of $48.04. The stock has a market capitalization of $78.09 billion, a PE ratio of 9.69, a price-to-earnings-growth ratio of 2.62 and a beta of 0.65.

Altria Group (NYSE:MOGet Free Report) last issued its earnings results on Thursday, February 1st. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.01. The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.06 billion. Altria Group had a net margin of 33.21% and a negative return on equity of 244.55%. Altria Group’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.18 EPS. On average, analysts anticipate that Altria Group, Inc. will post 5.07 earnings per share for the current fiscal year.

Altria Group declared that its Board of Directors has approved a share buyback plan on Thursday, February 1st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 1.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Altria Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, March 25th will be paid a $0.98 dividend. The ex-dividend date is Friday, March 22nd. This represents a $3.92 dividend on an annualized basis and a yield of 8.85%. Altria Group’s dividend payout ratio (DPR) is currently 85.78%.

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 offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.

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

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