Regent Investment Management LLC lifted its position in shares of Altria Group Inc (NYSE:MO) by 5.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,865 shares of the company’s stock after purchasing an additional 300 shares during the period. Regent Investment Management LLC’s holdings in Altria Group were worth $230,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legacy Wealth Planning LLC increased its position in Altria Group by 8.1% in the 1st quarter. Legacy Wealth Planning LLC now owns 6,542 shares of the company’s stock valued at $25,000 after acquiring an additional 488 shares during the period. Larson Financial Group LLC increased its position in Altria Group by 243.9% in the 2nd quarter. Larson Financial Group LLC now owns 736 shares of the company’s stock valued at $29,000 after acquiring an additional 522 shares during the period. Pflug Koory LLC increased its position in Altria Group by 70.0% in the 1st quarter. Pflug Koory LLC now owns 765 shares of the company’s stock valued at $30,000 after acquiring an additional 315 shares during the period. Sanders Morris Harris LLC boosted its holdings in Altria Group by 5.1% in the 1st quarter. Sanders Morris Harris LLC now owns 82,156 shares of the company’s stock valued at $31,000 after purchasing an additional 4,006 shares in the last quarter. Finally, Country Trust Bank boosted its holdings in Altria Group by 58.4% in the 1st quarter. Country Trust Bank now owns 814 shares of the company’s stock valued at $31,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds own 63.59% of the company’s stock.
MO has been the topic of several research analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $52.00 price objective on shares of Altria Group in a research note on Monday, June 8th. Deutsche Bank lifted their price objective on Altria Group from $50.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Barclays downgraded Altria Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $50.00 to $43.00 in a report on Wednesday, July 8th. Citigroup lifted their price objective on Altria Group from $45.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Panmure Gordon upgraded Altria Group from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a report on Friday, April 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $50.36.
Altria Group (NYSE:MO) last released its quarterly earnings data on Tuesday, July 28th. The company reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.03. Altria Group had a negative net margin of 3.57% and a positive return on equity of 109.11%. The business had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $5.08 billion. During the same quarter last year, the company earned $1.10 EPS. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. Equities analysts forecast that Altria Group Inc will post 4.3 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.86 per share. This is a boost from Altria Group’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Monday, September 14th. This represents a $3.44 annualized dividend and a yield of 8.36%. Altria Group’s dividend payout ratio (DPR) is presently 79.62%.
Altria Group Company Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.
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