Aviance Capital Partners LLC Acquires 191 Shares of Altria Group, Inc. (NYSE:MO)

Aviance Capital Partners LLC grew its holdings in Altria Group, Inc. (NYSE:MO) by 0.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,362 shares of the company’s stock after acquiring an additional 191 shares during the quarter. Aviance Capital Partners LLC’s holdings in Altria Group were worth $2,060,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Los Angeles Capital Management LLC grew its holdings in shares of Altria Group by 729.8% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,969,262 shares of the company’s stock worth $100,511,000 after purchasing an additional 1,731,932 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Altria Group by 3,786.6% in the third quarter. Assenagon Asset Management S.A. now owns 1,743,443 shares of the company’s stock valued at $88,985,000 after purchasing an additional 1,698,585 shares in the last quarter. AQR Capital Management LLC lifted its position in Altria Group by 25.0% during the 2nd quarter. AQR Capital Management LLC now owns 6,490,441 shares of the company’s stock valued at $295,055,000 after purchasing an additional 1,299,703 shares during the period. Cetera Investment Advisers lifted its stake in shares of Altria Group by 415.4% in the 1st quarter. Cetera Investment Advisers now owns 984,285 shares of the company’s stock valued at $42,935,000 after purchasing an additional 793,327 shares during the period. Finally, National Pension Service boosted its holdings in Altria Group by 19.9% during the third quarter. National Pension Service now owns 4,034,414 shares of the company’s stock worth $205,916,000 after buying an additional 670,858 shares during the last quarter. Institutional investors own 57.41% of the company’s stock.

Altria Group Price Performance

Shares of MO opened at $56.34 on Tuesday. Altria Group, Inc. has a one year low of $39.25 and a one year high of $56.55. The company has a market cap of $95.49 billion, a P/E ratio of 9.52, a P/E/G ratio of 3.18 and a beta of 0.64. The firm has a 50 day simple moving average of $51.63 and a two-hundred day simple moving average of $49.38.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.35 by $0.03. The business had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $5.33 billion. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. The firm’s revenue was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.28 EPS. On average, analysts expect that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Monday, September 16th were paid a $1.02 dividend. The ex-dividend date was Monday, September 16th. This represents a $4.08 annualized dividend and a dividend yield of 7.24%. This is an increase from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s dividend payout ratio is currently 68.92%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Bank of America reduced their target price on Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Citigroup increased their price target on Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Stifel Nicolaus boosted their price objective on shares of Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $51.33.

Altria Group Company Profile

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.