McElhenny Sheffield Capital Management LLC reduced its position in shares of Altria Group, Inc. (NYSE:MO – Free Report) by 49.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,714 shares of the company’s stock after selling 8,442 shares during the period. McElhenny Sheffield Capital Management LLC’s holdings in Altria Group were worth $445,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. MFA Wealth Advisors LLC acquired a new stake in shares of Altria Group during the 2nd quarter worth approximately $27,000. BNP Paribas acquired a new stake in shares of Altria Group during the first quarter valued at about $27,000. Hobbs Group Advisors LLC purchased a new stake in shares of Altria Group in the 2nd quarter valued at approximately $30,000. Valley Wealth Managers Inc. lifted its holdings in shares of Altria Group by 63.9% in the 2nd quarter. Valley Wealth Managers Inc. now owns 667 shares of the company’s stock worth $30,000 after acquiring an additional 260 shares during the last quarter. Finally, Riverview Trust Co purchased a new position in shares of Altria Group during the 1st quarter worth approximately $36,000. 57.41% of the stock is owned by hedge funds and other institutional investors.
Altria Group Price Performance
NYSE:MO opened at $49.61 on Monday. Altria Group, Inc. has a 12 month low of $39.06 and a 12 month high of $54.95. The firm has a market capitalization of $85.21 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 2.90 and a beta of 0.65. The business’s fifty day moving average price is $51.54 and its 200 day moving average price is $47.83.
Altria Group Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Monday, September 16th were issued a $1.02 dividend. This is a boost from Altria Group’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend was Monday, September 16th. This represents a $4.08 annualized dividend and a dividend yield of 8.22%. Altria Group’s dividend payout ratio is presently 85.36%.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the company. Stifel Nicolaus upped their price target on Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. StockNews.com lowered shares of Altria Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Barclays boosted their price target on shares of Altria Group from $43.00 to $45.00 and gave the stock an “underweight” rating in a research note on Monday, September 9th. Citigroup lifted their target price on Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Finally, UBS Group upped their price target on Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $48.20.
Check Out Our Latest Report on MO
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.
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