My Legacy Advisors LLC Lowers Position in Altria Group, Inc. (NYSE:MO)

My Legacy Advisors LLC lessened its holdings in Altria Group, Inc. (NYSE:MOFree Report) by 19.5% during the third quarter, HoldingsChannel.com reports. The fund owned 15,740 shares of the company’s stock after selling 3,818 shares during the quarter. My Legacy Advisors LLC’s holdings in Altria Group were worth $803,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BNP Paribas acquired a new position in shares of Altria Group in the 1st quarter valued at approximately $27,000. MFA Wealth Advisors LLC bought a new stake in shares of Altria Group in the 2nd quarter worth about $27,000. Hobbs Group Advisors LLC acquired a new stake in shares of Altria Group in the 2nd quarter valued at about $30,000. Valley Wealth Managers Inc. lifted its position in shares of Altria Group by 63.9% during the second quarter. Valley Wealth Managers Inc. now owns 667 shares of the company’s stock worth $30,000 after purchasing an additional 260 shares during the last quarter. Finally, Riverview Trust Co acquired a new position in Altria Group in the first quarter worth about $36,000. 57.41% of the stock is owned by institutional investors and hedge funds.

Altria Group Trading Up 1.6 %

MO traded up $0.79 on Tuesday, reaching $49.85. The company had a trading volume of 2,680,388 shares, compared to its average volume of 9,901,089. Altria Group, Inc. has a one year low of $39.06 and a one year high of $54.95. The company has a market capitalization of $85.62 billion, a P/E ratio of 10.38, a PEG ratio of 2.90 and a beta of 0.65. The company has a fifty day moving average of $51.51 and a 200-day moving average of $47.88.

Altria Group (NYSE:MOGet Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). The company had revenue of $6.21 billion for the quarter, compared to analyst estimates of $5.39 billion. Altria Group had a net margin of 42.25% and a negative return on equity of 232.55%. Altria Group’s revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.31 EPS. Research analysts predict that Altria Group, Inc. will post 5.11 EPS for the current year.

Altria Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 16th were given a $1.02 dividend. The ex-dividend date of this dividend was Monday, September 16th. This is a boost from Altria Group’s previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a yield of 8.18%. Altria Group’s payout ratio is 85.36%.

Analysts Set New Price Targets

Several brokerages recently issued reports on MO. Barclays raised their price objective on Altria Group from $43.00 to $45.00 and gave the stock an “underweight” rating in a research note on Monday, September 9th. Citigroup raised their price target on Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Stifel Nicolaus upped their price objective on Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. UBS Group raised their target price on Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a research note on Monday, September 9th. Finally, StockNews.com lowered shares of Altria Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $48.20.

Check Out Our Latest Report on Altria Group

About Altria Group

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding MO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altria Group, Inc. (NYSE:MOFree Report).

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

Receive News & Ratings for Altria Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altria Group and related companies with MarketBeat.com's FREE daily email newsletter.