Altria Group, Inc. (NYSE:MO) Stock Position Increased by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. boosted its position in shares of Altria Group, Inc. (NYSE:MO) by 6.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,414 shares of the company’s stock after buying an additional 2,848 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Altria Group were worth $2,160,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Gilbert & Cook Inc. lifted its holdings in shares of Altria Group by 3.3% during the fourth quarter. Gilbert & Cook Inc. now owns 12,928 shares of the company’s stock valued at $522,000 after purchasing an additional 413 shares during the last quarter. Aveo Capital Partners LLC increased its position in shares of Altria Group by 3.2% in the fourth quarter. Aveo Capital Partners LLC now owns 10,845 shares of the company’s stock worth $437,000 after acquiring an additional 333 shares in the last quarter. 9258 Wealth Management LLC raised its holdings in shares of Altria Group by 17.8% during the fourth quarter. 9258 Wealth Management LLC now owns 6,300 shares of the company’s stock valued at $254,000 after acquiring an additional 953 shares during the period. Gryphon Financial Partners LLC purchased a new stake in shares of Altria Group in the 4th quarter valued at approximately $217,000. Finally, Clearbridge Investments LLC acquired a new position in Altria Group in the 4th quarter worth approximately $445,000. 57.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MO has been the topic of several recent analyst reports. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a research note on Friday, June 28th. Stifel Nicolaus increased their price objective on Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Argus raised Altria Group to a “hold” rating in a research note on Friday, May 31st. Barclays increased their price target 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. Finally, UBS Group boosted their price objective on shares of Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a research report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $49.67.

Altria Group Stock Performance

Shares of MO opened at $50.39 on Monday. The firm has a market cap of $86.55 billion, a PE ratio of 10.54, a PEG ratio of 3.07 and a beta of 0.65. The firm’s 50 day moving average price is $51.27 and its 200 day moving average price is $46.85. Altria Group, Inc. has a twelve month low of $39.06 and a twelve month high of $54.95.

Altria Group (NYSE:MO) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.04). The business had revenue of $6.21 billion during the quarter, compared to analyst estimates 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 for the quarter was up 14.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.31 EPS. On average, sell-side analysts anticipate that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors 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 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 (DPR) is presently 85.36%.

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.