Almanack Investment Partners LLC. Invests $58,000 in Altria Group, Inc. (NYSE:MO)

Posted by Defense World Staff on Mar 15th, 2023

Almanack Investment Partners LLC. purchased a new stake in Altria Group, Inc. (NYSE:MO – Get Rating) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,436 shares of the company’s stock, valued at approximately $58,000.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its position in Altria Group by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 159,134,691 shares of the company’s stock valued at $6,425,858,000 after purchasing an additional 1,275,790 shares during the period. State Street Corp lifted its stake in Altria Group by 0.7% during the 3rd quarter. State Street Corp now owns 71,579,128 shares of the company’s stock valued at $2,957,671,000 after acquiring an additional 513,208 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Altria Group by 6.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 36,302,349 shares of the company’s stock valued at $1,896,798,000 after acquiring an additional 2,178,596 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Altria Group by 5.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 24,517,169 shares of the company’s stock valued at $990,002,000 after acquiring an additional 1,192,266 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Altria Group by 0.9% during the 2nd quarter. Northern Trust Corp now owns 18,220,521 shares of the company’s stock valued at $761,072,000 after acquiring an additional 161,289 shares in the last quarter. Institutional investors and hedge funds own 58.68% of the company’s stock.

Altria Group Price Performance

Shares of MO opened at $46.74 on Wednesday. The firm has a market cap of $83.46 billion, a P/E ratio of 14.65, a P/E/G ratio of 2.30 and a beta of 0.59. The stock has a 50 day simple moving average of $46.26 and a two-hundred day simple moving average of $45.31. Altria Group, Inc. has a 1 year low of $40.35 and a 1 year high of $57.05.

Altria Group (NYSE:MO – Get Rating) last issued its earnings results on Wednesday, February 1st. The company reported $1.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.18. Altria Group had a negative return on equity of 284.29% and a net margin of 22.97%. The business had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.15 billion. During the same quarter in the prior year, the firm earned $1.09 earnings per share. Altria Group’s revenue for the quarter was down 18.7% on a year-over-year basis. On average, equities analysts anticipate that Altria Group, Inc. will post 5.07 earnings per share for the current year.

Altria Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Friday, March 24th will be given a $0.94 dividend. The ex-dividend date is Thursday, March 23rd. This represents a $3.76 annualized dividend and a yield of 8.04%. Altria Group’s payout ratio is currently 117.87%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MO. Morgan Stanley lifted their target price on Altria Group from $43.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Monday, January 23rd. Citigroup boosted their price objective on Altria Group from $46.50 to $49.50 and gave the company a “neutral” rating in a research note on Tuesday, February 7th. Finally, StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research note on Friday, January 27th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Altria Group has an average rating of “Hold” and an average price target of $47.13.

Altria Group Profile

(Get Rating)

Altria Group, Inc operates as a holding company, which engages in the manufacture and sale of cigarettes in the United States. It operates through the following segments: Smokeable Products, Oral tobacco products, and Wine. The Smokeable Products segment consists of cigarettes manufactured and sold by PM USA and machine-made large cigars and pipe tobacco manufactured and sold by Middleton.