Altria Group, Inc. (NYSE:MO) Shares Sold by Lazari Capital Management Inc.

Lazari Capital Management Inc. lowered its holdings in Altria Group, Inc. (NYSE:MO) by 1.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,405 shares of the company’s stock after selling 382 shares during the period. Altria Group comprises about 0.7% of Lazari Capital Management Inc.’s investment portfolio, making the stock its 29th biggest holding. Lazari Capital Management Inc.’s holdings in Altria Group were worth $1,522,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Maryland Capital Advisors Inc. grew its position in Altria Group by 154.4% in the 1st quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock valued at $25,000 after buying an additional 349 shares in the last quarter. BNP Paribas bought a new position in shares of Altria Group in the first quarter valued at approximately $27,000. MFA Wealth Advisors LLC acquired a new position in shares of Altria Group during the second quarter valued at approximately $27,000. Pineridge Advisors LLC bought 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 in the first quarter worth approximately $29,000. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Altria Group Stock Down 0.2 %

Shares of Altria Group stock opened at $50.93 on Wednesday. The stock has a market cap of $87.48 billion, a PE ratio of 10.65, a price-to-earnings-growth ratio of 2.95 and a beta of 0.65. Altria Group, Inc. has a 12 month low of $39.06 and a 12 month high of $54.95. The business has a fifty day simple moving average of $51.57 and a 200-day simple moving average of $47.25.

Altria Group (NYSE:MO) last released 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 business had revenue of $6.21 billion for 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 company’s revenue was up 14.2% compared to the same quarter last year. During the same period last year, the firm earned $1.31 EPS. Analysts expect that Altria Group, Inc. will post 5.11 EPS for the current fiscal year.

Altria Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Monday, September 16th will be given a $1.02 dividend. This is an increase from Altria Group’s previous quarterly dividend of $0.98. The ex-dividend date is Monday, September 16th. This represents a $4.08 dividend on an annualized basis and a yield of 8.01%. Altria Group’s dividend payout ratio is presently 85.36%.

Analysts Set New Price Targets

MO has been the topic of several research reports. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a research report on Friday, June 28th. Bank of America boosted their target price on shares of Altria Group from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Stifel Nicolaus lifted their price target on shares of Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. UBS Group upped their price target on Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a report on Monday, September 9th. Finally, Barclays raised their price objective on Altria Group from $43.00 to $45.00 and gave the stock an “underweight” rating in a research note on Monday, September 9th. Two 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.com, Altria Group presently has a consensus 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.