MADDEN SECURITIES Corp Purchases 2,805 Shares of Altria Group, Inc. (NYSE:MO)

Posted by Maddie Sorensen on Mar 19th, 2023

MADDEN SECURITIES Corp raised its stake in shares of Altria Group, Inc. (NYSE:MO – Get Rating) by 34.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 10,881 shares of the company’s stock after purchasing an additional 2,805 shares during the period. MADDEN SECURITIES Corp’s holdings in Altria Group were worth $497,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in MO. Loomis Sayles & Co. L P purchased a new position in shares of Altria Group in the 1st quarter worth approximately $25,000. 1832 Asset Management L.P. purchased a new position in shares of Altria Group in the 1st quarter worth approximately $41,000. McClarren Financial Advisors Inc. purchased a new position in shares of Altria Group in the 3rd quarter worth approximately $48,000. Atlas Capital Advisors LLC boosted its stake in shares of Altria Group by 199.7% in the 2nd quarter. Atlas Capital Advisors LLC now owns 1,190 shares of the company’s stock worth $50,000 after buying an additional 793 shares during the last quarter. Finally, Almanack Investment Partners LLC. purchased a new position in Altria Group in the third quarter valued at approximately $58,000. Institutional investors and hedge funds own 58.68% of the company’s stock.

Altria Group Stock Down 1.8 %

Shares of NYSE:MO traded down $0.85 during trading on Friday, reaching $45.32. 32,421,688 shares of the company’s stock traded hands, compared to its average volume of 8,115,423. Altria Group, Inc. has a fifty-two week low of $40.35 and a fifty-two week high of $57.05. The firm has a market cap of $80.92 billion, a PE ratio of 14.21, a P/E/G ratio of 2.31 and a beta of 0.59. The company has a 50-day simple moving average of $46.28 and a 200-day simple moving average of $45.32.

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

Altria Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Investors 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 dividend on an annualized basis and a yield of 8.30%. Altria Group’s dividend payout ratio (DPR) is presently 117.87%.

Analyst Upgrades and Downgrades

Several research firms recently commented on MO. Citigroup upped 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. Morgan Stanley increased their target price on Altria Group from $43.00 to $46.00 and gave the company an “equal weight” rating in a research note on Monday, January 23rd. Finally, StockNews.com began coverage on Altria Group in a research note on Thursday. They issued a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Altria Group has an average rating of “Hold” and an average price target of $47.13.

Altria Group Company 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.