Auxier Asset Management Decreases Stock Holdings in Altria Group, Inc. (NYSE:MO)

Auxier Asset Management lowered its position in shares of Altria Group, Inc. (NYSE:MO) by 0.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 152,481 shares of the company’s stock after selling 532 shares during the period. Altria Group accounts for approximately 1.1% of Auxier Asset Management’s portfolio, making the stock its 29th largest position. Auxier Asset Management’s holdings in Altria Group were worth $6,946,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Maryland Capital Advisors Inc. lifted its position in shares of Altria Group by 154.4% during the 1st quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock worth $25,000 after buying an additional 349 shares during the last quarter. BNP Paribas acquired a new stake in Altria Group during the 1st quarter worth $27,000. MFA Wealth Advisors LLC purchased a new stake in Altria Group in the second quarter valued at $27,000. Pineridge Advisors LLC acquired a new position in Altria Group in the fourth quarter valued at $28,000. Finally, Westend Capital Management LLC purchased a new position in shares of Altria Group during the first quarter worth about $29,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Price Performance

NYSE:MO opened at $50.39 on Friday. The firm has a market cap of $86.55 billion, a price-to-earnings ratio of 10.54, a price-to-earnings-growth ratio of 3.07 and a beta of 0.65. The firm’s fifty day moving average price is $51.27 and its 200 day moving average price is $46.77. 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 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). The firm had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $5.39 billion. Altria Group had a net margin of 42.25% and a negative return on equity of 232.55%. The firm’s revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.31 EPS. As a group, 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 announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Monday, September 16th will be paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 8.10%. This is an increase 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 is 85.36%.

Analysts Set New Price Targets

Several analysts have recently weighed in on MO shares. Bank of America boosted their target price on Altria Group from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a report on Friday, June 28th. Argus raised shares of Altria Group to a “hold” rating in a report on Friday, May 31st. UBS Group increased 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. Finally, Barclays raised their price objective on shares of Altria Group from $43.00 to $45.00 and gave the stock an “underweight” rating in a research report on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price 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.