Altria Group, Inc. (NYSE:MO) Holdings Decreased by Avaii Wealth Management LLC

Avaii Wealth Management LLC lessened its holdings in shares of Altria Group, Inc. (NYSE:MO) by 34.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 6,360 shares of the company’s stock after selling 3,393 shares during the period. Avaii Wealth Management LLC’s holdings in Altria Group were worth $325,000 as of its most recent SEC filing.

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

Altria Group Trading Down 0.4 %

Shares of Altria Group stock traded down $0.22 during trading on Thursday, reaching $49.94. The company’s stock had a trading volume of 1,461,910 shares, compared to its average volume of 9,951,165. The stock has a market capitalization of $85.78 billion, a P/E ratio of 10.46, a price-to-earnings-growth ratio of 2.90 and a beta of 0.65. Altria Group, Inc. has a one year low of $39.06 and a one year high of $54.95. The stock has a 50-day moving average price of $51.57 and a two-hundred day moving average price of $47.70.

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

Altria Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 16th were given a dividend of $1.02 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $4.08 dividend on an annualized basis and a yield of 8.17%. This is an increase from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s dividend payout ratio is 85.36%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Citigroup boosted their target price on shares of Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. StockNews.com downgraded shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. UBS Group lifted their price target on shares of Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a research note on Monday, September 9th. Stifel Nicolaus boosted their target price 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. Finally, Barclays boosted their target price on shares of Altria Group from $43.00 to $45.00 and gave the company an “underweight” rating in a research note on Monday, September 9th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $48.20.

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.