2 weeks Ago By ABMN Staff
Parallel Advisors LLC reduced its stake in Altria Group, Inc. ( NYSE:MO – Free Report ) by 7.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission.
The firm owned 40,315 shares of the company’s stock after selling 3,079 shares during the period. Parallel Advisors LLC’s holdings in Altria Group were worth $1,836,000 as of its most recent filing with the Securities and Exchange Commission. Several other institutional investors have also made changes to their positions in MO.
Dai ichi Life Insurance Company Ltd increased its holdings in shares of Altria Group by 370.0% during the second quarter. Dai ichi Life Insurance Company Ltd now owns 329,513 shares of the company’s stock worth $15,009,000 after buying an additional 259,400 shares in the last quarter.
1ST Source Bank boosted its position in Altria Group by 14.0% during the second quarter. 1ST Source Bank now owns 6,074 shares of the company’s stock valued at $277,000 after acquiring an additional 747 shares during the last quarter.
CoreCap Advisors LLC bought a new stake in Altria Group during the second quarter valued at $2,723,000. SYM FINANCIAL Corp bought a new stake in Altria Group during the second quarter valued at $383,000. Finally, Hardin Capital Partners LLC bought a new position in shares of Altria Group during the 2nd quarter worth about $437,000.
57.41% of the stock is currently owned by institutional investors. Wall Street Analysts Forecast Growth MO has been the topic of a number of research analyst reports.
StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a research report on Friday, June 28th. UBS Group increased their price objective on shares of Altria Group from $39.
00 to $41.00 and gave the company a “sell” rating in a research note on Monday, September 9th. Stifel Nicolaus increased their price objective on shares of Altria Group from $50.
00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Argus upgraded shares of Altria Group to a “hold” rating in a research note on Friday, May 31st.
Finally, Bank of America raised their price target on shares of Altria Group from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th.
Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $49.67.
Altria Group Price Performance Shares of NYSE:MO opened at $52.96 on Monday. The firm has a fifty day moving average price of $50.
89 and a two-hundred day moving average price of $46.50. Altria Group, Inc.
has a one year low of $39.06 and a one year high of $54.95.
The company has a market cap of $90.97 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 3.
07 and a beta of 0.65. Altria Group ( NYSE:MO – Get Free Report ) last posted its quarterly earnings data on Wednesday, July 31st.
The company reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.
04). Altria Group had a negative return on equity of 232.55% and a net margin of 42.
25%. The company had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $5.
39 billion. During the same period in the prior year, the firm posted $1.31 earnings per share.
The business’s revenue was up 14.2% on a year-over-year basis. Equities research analysts expect that Altria Group, Inc.
will post 5.11 EPS for the current fiscal year. Altria Group Increases Dividend The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th.
Stockholders of record on Monday, September 16th will be issued a dividend of $1.02 per share. This is an increase from Altria Group’s previous quarterly dividend of $0.
98. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.
70%. The ex-dividend date of this dividend is Monday, September 16th. Altria Group’s payout ratio is currently 85.
36%. Altria Group Profile ( 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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