Great Lakes Advisors LLC raised its holdings in shares of Altria Group, Inc. (NYSE:MO – Get Rating) by 510.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 116,052 shares of the company’s stock after buying an additional 97,056 shares during the period. Great Lakes Advisors LLC’s holdings in Altria Group were worth $6,064,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. AE Wealth Management LLC boosted its holdings in shares of Altria Group by 14.9% during the first quarter. AE Wealth Management LLC now owns 195,595 shares of the company’s stock worth $10,220,000 after purchasing an additional 25,413 shares during the period. Abacus Planning Group Inc. bought a new position in Altria Group in the first quarter worth about $227,000. Allworth Financial LP raised its stake in Altria Group by 12.9% in the first quarter. Allworth Financial LP now owns 58,262 shares of the company’s stock worth $3,044,000 after buying an additional 6,642 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in Altria Group by 7.9% in the fourth quarter. Westwood Holdings Group Inc. now owns 211,536 shares of the company’s stock worth $10,025,000 after buying an additional 15,440 shares in the last quarter. Finally, Capital Investment Advisors LLC raised its stake in Altria Group by 1.6% in the first quarter. Capital Investment Advisors LLC now owns 546,169 shares of the company’s stock worth $28,537,000 after buying an additional 8,838 shares in the last quarter. 59.05% of the stock is currently owned by hedge funds and other institutional investors.
Altria Group Stock Down 0.3 %
Shares of MO opened at $44.10 on Friday. The company has a market capitalization of $79.42 billion, a P/E ratio of 45.46, a price-to-earnings-growth ratio of 2.28 and a beta of 0.62. The firm has a 50 day moving average of $45.15 and a 200 day moving average of $49.97. Altria Group, Inc. has a twelve month low of $41.00 and a twelve month high of $57.05.
Altria Group Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, July 11th. Investors of record on Wednesday, June 15th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 8.16%. The ex-dividend date was Tuesday, June 14th. Altria Group’s dividend payout ratio (DPR) is currently 371.13%.
Analyst Ratings Changes
A number of equities analysts recently issued reports on MO shares. Cowen decreased their price target on shares of Altria Group from $56.00 to $45.00 and set a “market perform” rating for the company in a research note on Monday, June 27th. Barclays downgraded shares of Altria Group from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $53.00 to $36.00 in a research note on Wednesday, June 29th. Sanford C. Bernstein downgraded shares of Altria Group from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $58.00 to $53.00 in a research note on Tuesday, May 10th. StockNews.com downgraded shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Altria Group from $60.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, July 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Altria Group has a consensus rating of “Hold” and a consensus target price of $47.00.
About Altria Group
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; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands, as well as provides on! oral nicotine pouches.
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