Ridgepath Capital Management LLC Purchases 2,603 Shares of Altria Group, Inc. (NYSE:MO)

Ridgepath Capital Management LLC raised its stake in Altria Group, Inc. (NYSE:MOFree Report) by 4.6% in the third quarter, Holdings Channel reports. The firm owned 58,876 shares of the company’s stock after acquiring an additional 2,603 shares during the quarter. Altria Group comprises approximately 2.4% of Ridgepath Capital Management LLC’s investment portfolio, making the stock its 14th biggest position. Ridgepath Capital Management LLC’s holdings in Altria Group were worth $3,005,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. MFA Wealth Advisors LLC bought a new position in shares of Altria Group during the 2nd quarter worth approximately $27,000. BNP Paribas bought a new position in shares of Altria Group during the 1st quarter worth approximately $27,000. Hobbs Group Advisors LLC bought a new position in shares of Altria Group during the 2nd quarter worth approximately $30,000. Valley Wealth Managers Inc. boosted its stake in shares of Altria Group by 63.9% during the 2nd quarter. Valley Wealth Managers Inc. now owns 667 shares of the company’s stock worth $30,000 after acquiring an additional 260 shares during the period. Finally, Fairman Group LLC boosted its stake in shares of Altria Group by 85.1% during the 3rd quarter. Fairman Group LLC now owns 892 shares of the company’s stock worth $46,000 after acquiring an additional 410 shares during the period. 57.41% of the stock is currently owned by institutional investors.

Altria Group Price Performance

Shares of NYSE MO opened at $49.71 on Monday. The stock has a market capitalization of $85.38 billion, a PE ratio of 10.40, a P/E/G ratio of 2.89 and a beta of 0.65. The business has a fifty day moving average price of $51.42 and a two-hundred day moving average price of $48.11. Altria Group, Inc. has a fifty-two week low of $39.06 and a fifty-two week high of $54.95.

Altria Group (NYSE:MOGet Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). Altria Group had a negative return on equity of 232.55% and a net margin of 42.25%. The business had revenue of $6.21 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same period last year, the firm posted $1.31 EPS. Altria Group’s quarterly revenue was up 14.2% on a year-over-year basis. On average, equities analysts expect 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. Stockholders of record on Monday, September 16th were issued a dividend of $1.02 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 8.21%. This is a boost from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s payout ratio is 85.36%.

Analyst Ratings Changes

Several research analysts have recently commented on MO shares. UBS Group lifted their target price on Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a research note on Monday, September 9th. Citigroup lifted 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 lifted their price target on Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. StockNews.com cut Altria Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Finally, Bank of America dropped their price target on Altria Group from $57.00 to $53.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Altria Group has an average rating of “Hold” and an average target price of $48.20.

Check Out Our Latest Research Report on Altria Group

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 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.

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

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