Lowe Brockenbrough & Co. Inc. decreased its position in Altria Group Inc (NYSE:MO) by 39.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 84,727 shares of the company’s stock after selling 54,694 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in Altria Group were worth $5,110,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. LFA Lugano Financial Advisors SA acquired a new stake in shares of Altria Group in the third quarter valued at $103,000. BDO Wealth Advisors LLC lifted its holdings in shares of Altria Group by 165.5% in the second quarter. BDO Wealth Advisors LLC now owns 2,222 shares of the company’s stock valued at $126,000 after buying an additional 1,385 shares during the period. New England Asset Management Inc. acquired a new stake in shares of Altria Group in the second quarter valued at $138,000. Moneta Group Investment Advisors LLC lifted its holdings in shares of Altria Group by 96.9% in the second quarter. Moneta Group Investment Advisors LLC now owns 5,211 shares of the company’s stock valued at $138,000 after buying an additional 2,564 shares during the period. Finally, Bridgeworth LLC acquired a new stake in shares of Altria Group in the second quarter valued at $157,000. Institutional investors and hedge funds own 64.49% of the company’s stock.
Several analysts have recently weighed in on MO shares. ValuEngine lowered Altria Group from a “hold” rating to a “sell” rating in a report on Tuesday, November 13th. Zacks Investment Research lowered Altria Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 10th. Barclays started coverage on Altria Group in a report on Friday, December 7th. They issued an “overweight” rating and a $64.00 price objective for the company. Jefferies Financial Group lowered Altria Group from a “buy” rating to a “hold” rating and set a $61.00 price objective for the company. in a report on Friday, August 24th. Finally, Argus upped their target price on Altria Group from $70.00 to $71.00 and gave the company a “buy” rating in a report on Monday, October 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $67.81.
Altria Group (NYSE:MO) last announced its earnings results on Thursday, October 25th. The company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.07 by $0.01. Altria Group had a return on equity of 48.31% and a net margin of 42.13%. The business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.22 billion. On average, research analysts anticipate that Altria Group Inc will post 3.99 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 10th. Stockholders of record on Wednesday, December 26th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 6.07%. The ex-dividend date of this dividend is Monday, December 24th. Altria Group’s dividend payout ratio is 94.67%.
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Altria Group Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.
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