GM Advisory Group LLC Boosts Stake in Altria Group, Inc. (NYSE:MO)

GM Advisory Group LLC increased its holdings in shares of Altria Group, Inc. (NYSE:MO) by 6.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,592 shares of the company’s stock after acquiring an additional 2,041 shares during the period. GM Advisory Group LLC’s holdings in Altria Group were worth $1,576,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Capital Research Global Investors boosted its stake in shares of Altria Group by 1.9% during the 4th quarter. Capital Research Global Investors now owns 13,279,658 shares of the company’s stock worth $535,701,000 after acquiring an additional 242,442 shares in the last quarter. Van ECK Associates Corp raised its holdings in Altria Group by 120.6% during the first quarter. Van ECK Associates Corp now owns 8,762,047 shares of the company’s stock worth $382,201,000 after purchasing an additional 4,789,788 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Altria Group by 5.0% during the second quarter. Victory Capital Management Inc. now owns 5,060,589 shares of the company’s stock worth $230,510,000 after purchasing an additional 243,201 shares during the last quarter. LSV Asset Management boosted its position in Altria Group by 4.6% during the second quarter. LSV Asset Management now owns 4,888,137 shares of the company’s stock worth $222,655,000 after purchasing an additional 215,594 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Altria Group by 1.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,754,522 shares of the company’s stock valued at $163,772,000 after purchasing an additional 54,096 shares during the last quarter. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Price Performance

NYSE:MO opened at $50.23 on Friday. The firm has a market cap of $86.28 billion, a PE ratio of 10.51, a P/E/G ratio of 3.07 and a beta of 0.65. The firm has a 50 day simple moving average of $51.22 and a 200-day simple moving average of $46.69. Altria Group, Inc. has a 1-year low of $39.06 and a 1-year high of $54.95.

Altria Group (NYSE:MO) last issued its quarterly earnings results 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 net margin of 42.25% and a negative return on equity of 232.55%. The business had revenue of $6.21 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same quarter last year, the firm posted $1.31 earnings per share. The company’s revenue was up 14.2% on a year-over-year basis. As a group, sell-side analysts expect that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders 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 yield of 8.12%. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Monday, September 16th. Altria Group’s dividend payout ratio (DPR) is presently 85.36%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Barclays lifted their price target on Altria Group from $43.00 to $45.00 and gave the stock an “underweight” rating in a research note on Monday, September 9th. UBS Group lifted their target price on shares of Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a research report on Monday, September 9th. Argus upgraded shares of Altria Group to a “hold” rating in a research report on Friday, May 31st. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research report on Friday, June 28th. Finally, Stifel Nicolaus increased their target price on Altria Group from $50.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Altria Group has a consensus rating of “Hold” and a consensus price target of $49.67.

Altria Group 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.