EP Wealth Advisors LLC Has $1.39 Million Holdings in Altria Group, Inc. (NYSE:MO)

Posted by on Mar 17th, 2023

EP Wealth Advisors LLC increased its position in shares of Altria Group, Inc. (NYSE:MO – Get Rating) by 13.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,330 shares of the company’s stock after buying an additional 4,164 shares during the period. EP Wealth Advisors LLC’s holdings in Altria Group were worth $1,386,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MO. Kentucky Retirement Systems raised its holdings in shares of Altria Group by 4.9% in the 3rd quarter. Kentucky Retirement Systems now owns 140,965 shares of the company’s stock valued at $5,692,000 after purchasing an additional 6,588 shares during the period. Aptus Capital Advisors LLC lifted its position in shares of Altria Group by 35.1% in the third quarter. Aptus Capital Advisors LLC now owns 72,673 shares of the company’s stock valued at $2,946,000 after buying an additional 18,891 shares during the last quarter. Procyon Advisors LLC boosted its stake in shares of Altria Group by 3.9% during the 3rd quarter. Procyon Advisors LLC now owns 12,870 shares of the company’s stock worth $520,000 after acquiring an additional 487 shares during the period. IFP Advisors Inc boosted its stake in shares of Altria Group by 36.2% during the 3rd quarter. IFP Advisors Inc now owns 128,178 shares of the company’s stock worth $9,151,000 after acquiring an additional 34,055 shares during the period. Finally, King Luther Capital Management Corp increased its holdings in shares of Altria Group by 4.7% during the 2nd quarter. King Luther Capital Management Corp now owns 33,888 shares of the company’s stock worth $1,416,000 after acquiring an additional 1,511 shares during the last quarter. 58.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MO shares. StockNews.com began coverage on Altria Group in a report on Thursday. They set a “buy” rating for the company. Morgan Stanley lifted their target price on shares of Altria Group from $43.00 to $46.00 and gave the stock an “equal weight” rating in a report on Monday, January 23rd. Finally, Citigroup increased their price target on shares of Altria Group from $46.50 to $49.50 and gave the company a “neutral” rating in a report on Tuesday, February 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $47.13.

Altria Group Trading Down 1.5 %

Shares of Altria Group stock opened at $46.17 on Friday. The company has a market cap of $82.44 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 2.31 and a beta of 0.59. The company has a 50 day moving average of $46.30 and a 200-day moving average of $45.33. 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 released its earnings results on Wednesday, February 1st. The company reported $1.18 earnings per share 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 firm had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $5.15 billion. During the same period in the prior year, the company earned $1.09 earnings per share. The company’s quarterly revenue was down 18.7% on a year-over-year basis. Research analysts forecast that Altria Group, Inc. will post 5.07 earnings per share for the current year.

Altria Group Announces Dividend

The firm also recently announced 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. This represents a $3.76 dividend on an annualized basis and a yield of 8.14%. The ex-dividend date of this dividend is Thursday, March 23rd. Altria Group’s dividend payout ratio is presently 117.87%.

Altria Group Profile

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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.

See Also

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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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