Mutual of America Capital Management LLC Sells 14,601 Shares of Altria Group, Inc. (NYSE:MO)

Mutual of America Capital Management LLC decreased its holdings in Altria Group, Inc. (NYSE:MO) by 6.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 216,358 shares of the company’s stock after selling 14,601 shares during the period. Mutual of America Capital Management LLC’s holdings in Altria Group were worth $9,855,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MO. Maryland Capital Advisors Inc. increased its stake in shares of Altria Group by 154.4% during the first quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock worth $25,000 after purchasing an additional 349 shares during the period. BNP Paribas acquired a new stake in Altria Group during the first quarter worth approximately $27,000. MFA Wealth Advisors LLC acquired a new stake in Altria Group during the second quarter worth approximately $27,000. Pineridge Advisors LLC acquired a new stake in Altria Group during the fourth quarter worth approximately $28,000. Finally, Westend Capital Management LLC acquired a new stake in Altria Group during the first quarter worth approximately $29,000. Institutional investors own 57.41% of the company’s stock.

Altria Group Trading Up 0.1 %

MO stock opened at $50.55 on Thursday. The stock has a 50-day moving average price of $51.15 and a 200-day moving average price of $46.67. Altria Group, Inc. has a 1-year low of $39.06 and a 1-year high of $54.95. The firm has a market cap of $86.83 billion, a PE ratio of 10.58, a price-to-earnings-growth ratio of 3.07 and a beta of 0.65.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.31 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $5.39 billion. During the same period last year, the business posted $1.31 earnings per share. The business’s revenue was up 14.2% on a year-over-year basis. On average, analysts forecast that Altria Group, Inc. will post 5.11 earnings per share for the current year.

Altria Group Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Monday, September 16th. This is an increase from Altria Group’s previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a dividend yield of 8.07%. Altria Group’s dividend payout ratio (DPR) is currently 85.36%.

Wall Street Analysts Forecast Growth

MO has been the topic of a number of research analyst reports. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a report on Friday, June 28th. Stifel Nicolaus increased their price target on Altria Group from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Bank of America increased their price target on Altria Group from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Barclays increased their price target on Altria Group from $43.00 to $45.00 and gave the company an “underweight” rating in a research note on Monday, September 9th. Finally, Argus upgraded Altria Group to a “hold” rating in a research note on Friday, May 31st. Two equities research 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 MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $49.67.

Altria Group Company Profile

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.