Allworth Financial LP Has $2.38 Million Stock Holdings in Altria Group, Inc. (NYSE:MO)

Allworth Financial LP lifted its position in Altria Group, Inc. (NYSE:MOFree Report) by 0.6% during the third quarter, HoldingsChannel.com reports. The fund owned 56,562 shares of the company’s stock after purchasing an additional 311 shares during the period. Allworth Financial LP’s holdings in Altria Group were worth $2,378,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Altria Group by 100,097.6% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,100,359,981 shares of the company’s stock valued at $49,846,307,000 after acquiring an additional 1,099,261,791 shares during the period. Capital World Investors raised its holdings in Altria Group by 8.5% during the 2nd quarter. Capital World Investors now owns 96,401,945 shares of the company’s stock worth $4,367,008,000 after buying an additional 7,546,851 shares during the period. State Street Corp raised its holdings in Altria Group by 1.8% during the 2nd quarter. State Street Corp now owns 70,564,529 shares of the company’s stock worth $3,262,710,000 after buying an additional 1,240,150 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Altria Group by 3.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 43,615,505 shares of the company’s stock worth $1,962,702,000 after buying an additional 1,585,048 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Altria Group by 3.3% in the second quarter. Geode Capital Management LLC now owns 37,025,033 shares of the company’s stock valued at $1,672,836,000 after purchasing an additional 1,168,982 shares during the last quarter. 58.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on MO. Jefferies Financial Group lifted their price objective on shares of Altria Group from $55.00 to $56.00 and gave the company a “buy” rating in a report on Friday, October 13th. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a report on Friday, January 12th. Citigroup lowered their price objective on shares of Altria Group from $46.50 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, October 18th. Bank of America lowered their price objective on shares of Altria Group from $49.00 to $47.00 in a report on Monday, October 9th. Finally, UBS Group lowered their price objective on shares of Altria Group from $40.40 to $39.20 and set a “sell” rating on the stock in a report on Friday, October 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Altria Group presently has an average rating of “Hold” and an average target price of $47.53.

Check Out Our Latest Research Report on MO

Insiders Place Their Bets

In related news, Director Robert Matthews Davis acquired 1,200 shares of Altria Group stock in a transaction on Monday, November 6th. The stock was purchased at an average cost of $40.50 per share, with a total value of $48,600.00. Following the completion of the transaction, the director now directly owns 8,473 shares in the company, valued at approximately $343,156.50. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.07% of the company’s stock.

Altria Group Trading Down 0.6 %

NYSE:MO opened at $40.74 on Thursday. Altria Group, Inc. has a 1-year low of $39.06 and a 1-year high of $51.57. The firm has a fifty day simple moving average of $41.19 and a 200 day simple moving average of $42.64. The stock has a market capitalization of $72.05 billion, a PE ratio of 8.30, a P/E/G ratio of 2.65 and a beta of 0.64.

Altria Group (NYSE:MOGet Free Report) last released its quarterly earnings data on Thursday, October 26th. The company reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.01). Altria Group had a negative return on equity of 237.91% and a net margin of 35.58%. The company had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same period last year, the firm earned $1.28 earnings per share. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, equities analysts predict that Altria Group, Inc. will post 4.96 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Thursday, December 21st were given a dividend of $0.98 per share. The ex-dividend date was Wednesday, December 20th. This represents a $3.92 dividend on an annualized basis and a yield of 9.62%. Altria Group’s dividend payout ratio (DPR) is 79.84%.

Altria Group Profile

(Free Report)

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

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