HBK Sorce Advisory LLC Buys 1,810 Shares of Altria Group, Inc. (NYSE:MO)

HBK Sorce Advisory LLC grew its stake in Altria Group, Inc. (NYSE:MO) by 7.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,999 shares of the company’s stock after buying an additional 1,810 shares during the period. HBK Sorce Advisory LLC’s holdings in Altria Group were worth $1,184,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Scarborough Advisors LLC lifted its holdings in shares of Altria Group by 18.5% during the second quarter. Scarborough Advisors LLC now owns 1,283 shares of the company’s stock valued at $58,000 after acquiring an additional 200 shares during the period. Valley Wealth Managers Inc. grew 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 in the last quarter. Meeder Advisory Services Inc. lifted its stake in Altria Group by 39.7% in the second quarter. Meeder Advisory Services Inc. now owns 34,927 shares of the company’s stock valued at $1,591,000 after acquiring an additional 9,930 shares during the last quarter. Main Street Financial Solutions LLC grew its position in shares of Altria Group by 16.4% in the 2nd quarter. Main Street Financial Solutions LLC now owns 11,479 shares of the company’s stock valued at $523,000 after acquiring an additional 1,621 shares during the period. Finally, D Orazio & Associates Inc. raised its holdings in shares of Altria Group by 42.2% in the 2nd quarter. D Orazio & Associates Inc. now owns 13,299 shares of the company’s stock valued at $606,000 after purchasing an additional 3,945 shares during the period. Institutional investors own 57.41% of the company’s stock.

Altria Group Stock Performance

MO stock opened at $52.96 on Friday. Altria Group, Inc. has a 52-week low of $39.06 and a 52-week high of $54.95. The company has a market capitalization of $90.36 billion, a P/E ratio of 11.08, a PEG ratio of 3.07 and a beta of 0.65. The company has a fifty day moving average price of $50.89 and a 200-day moving average price of $46.42.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.31 earnings per share (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 company had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter last year, the business earned $1.31 earnings per share. Altria Group’s revenue was up 14.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Monday, September 16th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.70%. This is an increase from Altria Group’s previous quarterly dividend of $0.98. The ex-dividend date is Monday, September 16th. Altria Group’s payout ratio is currently 82.01%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research note on Friday, June 28th. Stifel Nicolaus raised their price target on shares of Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Barclays boosted their price objective on shares of Altria Group from $43.00 to $45.00 and gave the company an “underweight” rating in a report on Monday, September 9th. Bank of America increased their price target on Altria Group from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Finally, UBS Group upped their target price on Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a research report on Monday, September 9th. Two 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, the stock currently has a consensus rating of “Hold” and an average price target of $49.67.

About Altria Group

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.