Naples Global Advisors LLC Has $456,000 Position in Altria Group, Inc. (NYSE:MO)

Posted by on Mar 30th, 2023

Naples Global Advisors LLC reduced its holdings in Altria Group, Inc. (NYSE:MO – Get Rating) by 18.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,798 shares of the company’s stock after selling 2,158 shares during the period. Naples Global Advisors LLC’s holdings in Altria Group were worth $456,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. WP Advisors LLC increased its stake in Altria Group by 0.9% in the 4th quarter. WP Advisors LLC now owns 29,862 shares of the company’s stock valued at $1,365,000 after buying an additional 255 shares during the last quarter. OmniStar Financial Group Inc. grew its position in shares of Altria Group by 2.8% in the 4th quarter. OmniStar Financial Group Inc. now owns 44,325 shares of the company’s stock valued at $2,026,000 after acquiring an additional 1,201 shares during the period. ACT Wealth Management LLC bought a new position in shares of Altria Group in the 4th quarter valued at about $210,000. Stratos Wealth Advisors LLC grew its position in shares of Altria Group by 63.8% in the 4th quarter. Stratos Wealth Advisors LLC now owns 30,839 shares of the company’s stock valued at $1,410,000 after acquiring an additional 12,017 shares during the period. Finally, Sage Capital Advisors llc grew its position in shares of Altria Group by 0.8% in the 4th quarter. Sage Capital Advisors llc now owns 102,200 shares of the company’s stock valued at $4,672,000 after acquiring an additional 796 shares during the period. 58.68% of the stock is currently owned by institutional investors and hedge funds.

Altria Group Trading Up 0.4 %

Shares of NYSE:MO opened at $44.52 on Thursday. The firm has a 50 day moving average of $46.17 and a 200-day moving average of $45.31. The stock has a market capitalization of $79.49 billion, a PE ratio of 13.96, a PEG ratio of 2.19 and a beta of 0.59. Altria Group, Inc. has a 12 month low of $40.35 and a 12 month high of $57.05.

Altria Group (NYSE:MO – Get Rating) last issued its earnings results on Wednesday, February 1st. The company reported $1.18 EPS for the quarter, meeting the consensus estimate of $1.18. The company had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $5.15 billion. Altria Group had a net margin of 22.97% and a negative return on equity of 284.29%. The business’s revenue for the quarter was down 18.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.09 EPS. On average, research analysts predict that Altria Group, Inc. will post 5.05 EPS for the current fiscal 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 issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 8.45%. The ex-dividend date of this dividend is Thursday, March 23rd. Altria Group’s payout ratio is 117.87%.

Wall Street Analyst Weigh In

MO has been the subject of several research analyst reports. Citigroup lifted their target price on shares of Altria Group from $46.50 to $49.50 and gave the stock a “neutral” rating in a report on Tuesday, February 7th. 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, StockNews.com initiated coverage on shares of Altria Group in a report on Thursday, March 16th. They set a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Altria Group currently has an average rating of “Hold” and a consensus target price of $45.55.

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.

Further Reading

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

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