Altria Group, Inc. (NYSE:MO) Stock Position Lifted by Red Door Wealth Management LLC

Red Door Wealth Management LLC boosted its stake in shares of Altria Group, Inc. (NYSE:MO) by 11.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,490 shares of the company’s stock after purchasing an additional 1,635 shares during the period. Red Door Wealth Management LLC’s holdings in Altria Group were worth $676,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Research Global Investors grew its position in Altria Group by 1.9% in the fourth quarter. Capital Research Global Investors now owns 13,279,658 shares of the company’s stock worth $535,701,000 after acquiring an additional 242,442 shares in the last quarter. Pacer Advisors Inc. grew its position in Altria Group by 17.0% in the fourth quarter. Pacer Advisors Inc. now owns 9,259,451 shares of the company’s stock worth $373,526,000 after acquiring an additional 1,343,094 shares in the last quarter. Ameriprise Financial Inc. grew its position in Altria Group by 8.5% in the third quarter. Ameriprise Financial Inc. now owns 9,174,355 shares of the company’s stock worth $381,278,000 after acquiring an additional 722,258 shares in the last quarter. Truist Financial Corp grew its position in Altria Group by 7.6% in the third quarter. Truist Financial Corp now owns 4,762,934 shares of the company’s stock worth $200,281,000 after acquiring an additional 337,548 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in Altria Group by 54.1% in the third quarter. AQR Capital Management LLC now owns 4,710,670 shares of the company’s stock worth $198,084,000 after acquiring an additional 1,653,455 shares in the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MO. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a research note on Friday. Stifel Nicolaus restated a “buy” rating and issued a $50.00 price objective on shares of Altria Group in a research note on Monday, March 25th. Argus upgraded shares of Altria Group to a “hold” rating in a research note on Friday, May 31st. Finally, UBS Group boosted their price objective on shares of Altria Group from $36.10 to $36.50 and gave the stock a “sell” rating in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Altria Group has an average rating of “Hold” and an average price target of $46.90.

Altria Group Trading Up 0.2 %

NYSE:MO traded up $0.09 during trading hours on Friday, hitting $45.55. 12,238,540 shares of the company traded hands, compared to its average volume of 9,876,758. The stock has a market capitalization of $78.24 billion, a price-to-earnings ratio of 9.53, a P/E/G ratio of 2.77 and a beta of 0.64. Altria Group, Inc. has a twelve month low of $39.06 and a twelve month high of $47.19. The firm has a 50-day moving average of $45.19 and a 200 day moving average of $42.75.

Altria Group (NYSE:MO) last released its earnings results on Thursday, April 25th. The company reported $1.15 EPS for the quarter, meeting the consensus estimate of $1.15. The firm had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.71 billion. Altria Group had a net margin of 34.81% and a negative return on equity of 222.80%. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.18 EPS. Equities research analysts predict that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Friday, June 14th will be issued a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 8.61%. The ex-dividend date of this dividend is Friday, June 14th. Altria Group’s dividend payout ratio (DPR) is presently 82.01%.

Insider Buying and Selling at Altria Group

In other Altria Group news, VP Charles N. Whitaker sold 22,487 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $43.95, for a total value of $988,303.65. Following the sale, the vice president now owns 173,485 shares of the company’s stock, valued at approximately $7,624,665.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.09% of the company’s stock.

Altria Group Company 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.