Resolute Advisors LLC Raises Stock Position in Altria Group, Inc. (NYSE:MO)

Resolute Advisors LLC increased its position in shares of Altria Group, Inc. (NYSE:MO) by 2.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,772 shares of the company’s stock after acquiring an additional 250 shares during the period. Altria Group makes up about 0.1% of Resolute Advisors LLC’s holdings, making the stock its 24th biggest position. Resolute Advisors LLC’s holdings in Altria Group were worth $613,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MO. Delta Investment Management LLC grew its stake in Altria Group by 2.9% in the 2nd quarter. Delta Investment Management LLC now owns 7,064 shares of the company’s stock worth $322,000 after acquiring an additional 198 shares in the last quarter. Scarborough Advisors LLC increased its holdings in Altria Group by 18.5% during 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 period. American Institute for Advanced Investment Management LLP increased its holdings in Altria Group by 3.5% during 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 buying an additional 200 shares during the period. Zhang Financial LLC raised its position in shares of Altria Group by 1.1% in the 3rd quarter. Zhang Financial LLC now owns 18,454 shares of the company’s stock worth $942,000 after acquiring an additional 202 shares in the last quarter. Finally, Hollencrest Capital Management raised 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 worth $3,489,000 after purchasing an additional 203 shares in the last quarter. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Stifel Nicolaus lifted their price target on shares of Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. UBS Group increased their price objective on shares of Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a research report on Monday, September 9th. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Bank of America dropped their price objective 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. Finally, Citigroup raised their target price on Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Altria Group has an average rating of “Hold” and a consensus target price of $51.33.

Altria Group Stock Up 1.0 %

Shares of Altria Group stock opened at $54.05 on Friday. The business’s fifty day simple moving average is $51.50 and its 200-day simple moving average is $48.81. The firm has a market cap of $91.60 billion, a PE ratio of 9.13, a price-to-earnings-growth ratio of 3.09 and a beta of 0.64. Altria Group, Inc. has a 52 week low of $39.25 and a 52 week high of $55.05.

Altria Group (NYSE:MO) last announced its earnings results on Thursday, October 31st. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.03. The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.33 billion. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.28 earnings per share. As a group, equities analysts expect that Altria Group, Inc. will post 5.11 earnings per share for the current year.

Altria Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 16th were issued a dividend of $1.02 per share. This is an increase from Altria Group’s previous quarterly dividend of $0.98. The ex-dividend date was Monday, September 16th. This represents a $4.08 annualized dividend and a yield of 7.55%. Altria Group’s dividend payout ratio is 68.92%.

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.