Lmcg Investments LLC Acquires 2,493 Shares of Altria Group, Inc. (NYSE:MO)

Lmcg Investments LLC grew its holdings in Altria Group, Inc. (NYSE:MO) by 24.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,585 shares of the company’s stock after acquiring an additional 2,493 shares during the period. Lmcg Investments LLC’s holdings in Altria Group were worth $573,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Albion Financial Group UT boosted its holdings in Altria Group by 49.1% in the first quarter. Albion Financial Group UT now owns 2,767 shares of the company’s stock worth $121,000 after purchasing an additional 911 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of Altria Group by 1.6% during the 1st quarter. Nordea Investment Management AB now owns 1,027,886 shares of the company’s stock valued at $44,960,000 after acquiring an additional 16,541 shares during the last quarter. Atomi Financial Group Inc. raised its stake in shares of Altria Group by 7.2% in the 1st quarter. Atomi Financial Group Inc. now owns 5,953 shares of the company’s stock valued at $260,000 after acquiring an additional 399 shares in the last quarter. &PARTNERS acquired a new stake in Altria Group in the 1st quarter worth approximately $556,000. Finally, Bridgefront Capital LLC bought a new stake in Altria Group during the fourth quarter worth approximately $982,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Stock Down 2.3 %

MO stock opened at $50.50 on Wednesday. Altria Group, Inc. has a twelve month low of $39.06 and a twelve month high of $54.95. The company has a market cap of $86.74 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 3.07 and a beta of 0.65. The business’s 50-day simple moving average is $51.08 and its 200 day simple moving average is $46.64.

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

Altria Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Monday, September 16th will be paid a $1.02 dividend. This is a boost from Altria Group’s previous quarterly dividend of $0.98. The ex-dividend date is Monday, September 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 8.08%. Altria Group’s dividend payout ratio is currently 85.36%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Argus raised shares of Altria Group to a “hold” rating in a research report on Friday, May 31st. UBS Group boosted their target price on shares of Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a research report on Monday, September 9th. Bank of America upped their price target on shares of Altria Group from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research note on Friday, June 28th. Finally, Stifel Nicolaus increased their target price on Altria Group from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $49.67.

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.