Abich Financial Wealth Management LLC lowered its holdings in Altria Group, Inc. (NYSE:MO – Free Report) by 67.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,438 shares of the company’s stock after selling 2,924 shares during the period. Abich Financial Wealth Management LLC’s holdings in Altria Group were worth $73,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the business. Farmers & Merchants Investments Inc. lifted its holdings in Altria Group by 10.6% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 13,606 shares of the company’s stock worth $694,000 after purchasing an additional 1,300 shares in the last quarter. Diversify Advisory Services LLC lifted its holdings in shares of Altria Group by 9.0% in the third quarter. Diversify Advisory Services LLC now owns 65,249 shares of the company’s stock worth $3,266,000 after buying an additional 5,414 shares in the last quarter. Integrated Advisors Network LLC boosted its position in shares of Altria Group by 4.6% in the third quarter. Integrated Advisors Network LLC now owns 31,443 shares of the company’s stock valued at $1,605,000 after acquiring an additional 1,385 shares during the period. SC&H Financial Advisors Inc. bought a new position in Altria Group in the 3rd quarter valued at $217,000. Finally, MBA Advisors LLC boosted its stake in Altria Group by 9.1% during the third quarter. MBA Advisors LLC now owns 11,990 shares of the company’s stock valued at $612,000 after buying an additional 1,005 shares during the period. 57.41% of the stock is currently owned by hedge funds and other institutional investors.
Altria Group Price Performance
Altria Group stock traded up $0.03 during trading hours on Tuesday, reaching $50.28. The company had a trading volume of 649,807 shares, compared to its average volume of 9,786,226. Altria Group, Inc. has a 12-month low of $39.25 and a 12-month high of $54.95. The firm has a market cap of $86.36 billion, a price-to-earnings ratio of 10.52, a P/E/G ratio of 2.89 and a beta of 0.65. The company has a 50-day moving average price of $51.40 and a 200 day moving average price of $48.17.
Altria Group Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 16th were issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 8.11%. The ex-dividend date of this dividend was Monday, September 16th. This is an increase from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s payout ratio is currently 85.36%.
Analyst Upgrades and Downgrades
Several analysts have weighed in on the company. StockNews.com cut Altria Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Citigroup raised their target price on shares of Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. UBS Group boosted their price target on shares of Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a research note on Monday, September 9th. Barclays raised their price objective on shares of Altria Group from $43.00 to $45.00 and gave the company an “underweight” rating in a research report on Monday, September 9th. Finally, Bank of America cut their price objective 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 investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $48.20.
Check Out Our Latest Analysis on Altria Group
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.
Read More
- Five stocks we like better than Altria Group
- 3 Tickers Leading a Meme Stock Revival
- QuantumScape: Solid State EV Batteries Nearing Commercialization
- What is the Dow Jones Industrial Average (DJIA)?
- MicroStrategy: Is This Bitcoin-Powered Stock a Buy or a Gamble?
- The How And Why of Investing in Oil Stocks
- 3 Stocks Reporting Kitchen Sink Quarters to Usher in a Turnaround
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:MO – Free Report).
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.