Taylor & Morgan Wealth Management LLC Buys 240 Shares of Altria Group, Inc. (NYSE:MO)

Taylor & Morgan Wealth Management LLC boosted its position in Altria Group, Inc. (NYSE:MO) by 2.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,231 shares of the company’s stock after purchasing an additional 240 shares during the period. Taylor & Morgan Wealth Management LLC’s holdings in Altria Group were worth $624,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Delta Investment Management LLC boosted its holdings in shares of Altria Group by 2.9% in the second quarter. Delta Investment Management LLC now owns 7,064 shares of the company’s stock valued at $322,000 after acquiring an additional 198 shares in the last quarter. Scarborough Advisors LLC raised its position in shares of Altria Group by 18.5% in the second quarter. Scarborough Advisors LLC now owns 1,283 shares of the company’s stock valued at $58,000 after buying an additional 200 shares during the last quarter. American Institute for Advanced Investment Management LLP grew its holdings in Altria Group by 3.5% in the third quarter. American Institute for Advanced Investment Management LLP now owns 5,860 shares of the company’s stock valued at $299,000 after purchasing an additional 200 shares during the period. Zhang Financial LLC grew its holdings in Altria Group by 1.1% in the third quarter. Zhang Financial LLC now owns 18,454 shares of the company’s stock valued at $942,000 after purchasing an additional 202 shares during the period. Finally, Hollencrest Capital Management grew its holdings in Altria Group by 0.3% in the second quarter. Hollencrest Capital Management now owns 76,595 shares of the company’s stock valued at $3,489,000 after purchasing an additional 203 shares during the period. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Price Performance

Shares of MO stock traded up $0.44 during trading hours on Monday, reaching $50.15. The stock had a trading volume of 1,955,098 shares, compared to its average volume of 9,809,191. Altria Group, Inc. has a twelve month low of $39.25 and a twelve month high of $54.95. The firm has a 50-day simple moving average of $51.42 and a 200-day simple moving average of $48.11. The firm has a market capitalization of $86.14 billion, a PE ratio of 10.49, a price-to-earnings-growth ratio of 2.89 and a beta of 0.65.

Altria Group (NYSE:MO) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates 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 negative return on equity of 232.55% and a net margin of 42.25%. The firm’s revenue was up 14.2% on a year-over-year basis. During the same period last year, the business earned $1.31 EPS. On average, equities analysts anticipate that Altria Group, Inc. will post 5.11 earnings per share for the current year.

Altria Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 16th were given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 8.14%. The ex-dividend date of this dividend was Monday, September 16th. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s dividend payout ratio is currently 85.36%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. UBS Group boosted their price objective 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. StockNews.com downgraded shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Bank of America cut their price target on shares of Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Barclays upped their price target on shares of Altria Group from $43.00 to $45.00 and gave the company an “underweight” rating in a report on Monday, September 9th. Finally, Stifel Nicolaus upped their price target on shares of Altria Group from $50.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $48.20.

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.