iA Global Asset Management Inc. Has $4.17 Million Stock Position in Altria Group, Inc. (NYSE:MO)

iA Global Asset Management Inc. lessened its stake in shares of Altria Group, Inc. (NYSE:MO) by 0.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 91,613 shares of the company’s stock after selling 748 shares during the period. iA Global Asset Management Inc.’s holdings in Altria Group were worth $4,173,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MO. Maryland Capital Advisors Inc. increased its stake in shares of Altria Group by 154.4% during the 1st quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock worth $25,000 after purchasing an additional 349 shares during the last quarter. MFA Wealth Advisors LLC bought a new position in Altria Group during the second quarter worth about $27,000. BNP Paribas acquired a new position in Altria Group during the first quarter worth approximately $27,000. Hobbs Group Advisors LLC acquired a new position in Altria Group during the second quarter worth approximately $30,000. Finally, Westend Capital Management LLC bought a new stake in Altria Group in the first quarter valued at approximately $29,000. 57.41% of the stock is owned by institutional investors and hedge funds.

Altria Group Stock Up 0.8 %

MO stock opened at $53.77 on Friday. The company has a market cap of $92.36 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 3.07 and a beta of 0.66. Altria Group, Inc. has a 52 week low of $39.06 and a 52 week high of $53.82. The business has a 50-day simple moving average of $49.19 and a 200 day simple moving average of $45.40.

Altria Group (NYSE:MO) last issued its earnings results on Wednesday, July 31st. The company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.04). The firm had revenue of $6.21 billion during the quarter, compared to analyst estimates of $5.39 billion. Altria Group had a net margin of 42.25% and a negative return on equity of 232.55%. Altria Group’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.31 earnings per share. On average, analysts anticipate that Altria Group, Inc. will post 5.11 EPS for the current fiscal year.

Altria Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Monday, September 16th will be issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.59%. The ex-dividend date is Monday, September 16th. This is an increase from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s dividend payout ratio (DPR) is currently 85.36%.

Analyst Ratings Changes

MO has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their target price on Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Argus upgraded shares of Altria Group to a “hold” rating in a report on Friday, May 31st. Barclays raised their target price on shares of Altria Group from $37.00 to $43.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 14th. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a report on Friday, June 28th. Finally, Bank of America upped their price target on shares of Altria Group from $47.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $47.08.

Altria Group Profile

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.