IFM Investors Pty Ltd lifted its stake in shares of Altria Group, Inc. (NYSE:MO – Get Rating) by 5.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 223,202 shares of the company’s stock after acquiring an additional 11,107 shares during the quarter. IFM Investors Pty Ltd’s holdings in Altria Group were worth $9,323,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Marcum Wealth LLC lifted its holdings in Altria Group by 2.5% in the 2nd quarter. Marcum Wealth LLC now owns 73,208 shares of the company’s stock worth $3,058,000 after purchasing an additional 1,751 shares in the last quarter. Krilogy Financial LLC lifted its holdings in Altria Group by 3.5% in the 2nd quarter. Krilogy Financial LLC now owns 7,873 shares of the company’s stock worth $329,000 after purchasing an additional 263 shares in the last quarter. Raymond James Trust N.A. lifted its holdings in Altria Group by 0.9% in the 2nd quarter. Raymond James Trust N.A. now owns 65,563 shares of the company’s stock worth $2,738,000 after purchasing an additional 558 shares in the last quarter. Peak Financial Advisors LLC lifted its holdings in Altria Group by 17.0% in the 2nd quarter. Peak Financial Advisors LLC now owns 9,062 shares of the company’s stock worth $379,000 after purchasing an additional 1,319 shares in the last quarter. Finally, KMG Fiduciary Partners LLC lifted its holdings in Altria Group by 13.5% in the 2nd quarter. KMG Fiduciary Partners LLC now owns 5,913 shares of the company’s stock worth $247,000 after purchasing an additional 705 shares in the last quarter. 59.75% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
MO has been the topic of several recent research reports. Bank of America decreased their price objective on Altria Group from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, July 8th. Cowen decreased their price objective on Altria Group from $56.00 to $45.00 and set a “market perform” rating on the stock in a report on Monday, June 27th. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a report on Monday. Deutsche Bank Aktiengesellschaft decreased their price objective on Altria Group from $60.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, July 1st. Finally, Morgan Stanley upgraded Altria Group from an “underweight” rating to an “equal weight” rating and decreased their price target for the company from $47.00 to $43.00 in a report on Friday, June 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $47.00.
Altria Group Trading Up 0.6 %
Altria Group (NYSE:MO – Get Rating) last posted its quarterly earnings results on Thursday, July 28th. The company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. Altria Group had a negative return on equity of 488.86% and a net margin of 6.88%. The business had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.42 billion. During the same quarter in the prior year, the company earned $1.23 EPS. The business’s revenue was down 4.3% compared to the same quarter last year. On average, equities research analysts predict that Altria Group, Inc. will post 4.85 EPS for the current year.
Altria Group Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 11th. Investors of record on Thursday, September 15th will be given a dividend of $0.94 per share. The ex-dividend date is Wednesday, September 14th. This represents a $3.76 dividend on an annualized basis and a yield of 8.69%. This is an increase from Altria Group’s previous quarterly dividend of $0.90. Altria Group’s dividend payout ratio (DPR) is presently 387.63%.
About Altria Group
Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company provides cigarettes primarily under the Marlboro brand; cigars and pipe tobacco principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands, as well as provides on! oral nicotine pouches.
- Get a free copy of the StockNews.com research report on Altria Group (MO)
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