HNP Capital LLC trimmed its position in Altria Group, Inc. (NYSE:MO – Free Report) by 2.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,581 shares of the company’s stock after selling 332 shares during the quarter. HNP Capital LLC’s holdings in Altria Group were worth $517,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P purchased a new stake in Altria Group in the 1st quarter worth approximately $25,000. Ruedi Wealth Management Inc. purchased a new stake in Altria Group in the 4th quarter worth approximately $30,000. Ellevest Inc. grew its holdings in Altria Group by 346.7% during the 1st quarter. Ellevest Inc. now owns 670 shares of the company’s stock valued at $30,000 after buying an additional 520 shares in the last quarter. NewSquare Capital LLC grew its holdings in Altria Group by 153.8% during the 1st quarter. NewSquare Capital LLC now owns 731 shares of the company’s stock valued at $33,000 after buying an additional 443 shares in the last quarter. Finally, Dark Forest Capital Management LP purchased a new stake in Altria Group during the 4th quarter valued at approximately $34,000. 58.94% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on MO shares. Jefferies Financial Group cut their price objective on shares of Altria Group from $56.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, August 22nd. StockNews.com started coverage on shares of Altria Group in a report on Thursday, August 17th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Altria Group currently has an average rating of “Hold” and an average target price of $47.50.
Altria Group Stock Down 0.3 %
Shares of MO opened at $44.75 on Thursday. The company has a market cap of $79.41 billion, a PE ratio of 11.75, a P/E/G ratio of 2.33 and a beta of 0.59. The business has a fifty day moving average of $44.49 and a 200 day moving average of $45.09. Altria Group, Inc. has a 52-week low of $40.35 and a 52-week high of $51.57.
Altria Group (NYSE:MO – Get Free Report) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $1.31 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.31. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.43 billion. Altria Group had a negative return on equity of 225.61% and a net margin of 27.40%. Altria Group’s revenue was up 1.2% on a year-over-year basis. During the same period last year, the company earned $1.26 earnings per share. As a group, research analysts anticipate that Altria Group, Inc. will post 5 earnings per share for the current fiscal year.
Altria Group Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 15th will be given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 8.76%. This is an increase from Altria Group’s previous quarterly dividend of $0.94. The ex-dividend date is Thursday, September 14th. Altria Group’s dividend payout ratio (DPR) is 102.89%.
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; moist smokeless tobacco products and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; and on! oral nicotine pouches.
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