Altria Group, Inc. (NYSE:MO) Shares Sold by Concorde Asset Management LLC

Concorde Asset Management LLC decreased its position in shares of Altria Group, Inc. (NYSE:MO) by 7.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,124 shares of the company’s stock after selling 404 shares during the period. Concorde Asset Management LLC’s holdings in Altria Group were worth $233,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MO. Gilbert & Cook Inc. grew its stake in shares of Altria Group by 3.3% in the fourth quarter. Gilbert & Cook Inc. now owns 12,928 shares of the company’s stock worth $522,000 after acquiring an additional 413 shares in the last quarter. Aveo Capital Partners LLC grew its stake in Altria Group by 3.2% during the 4th quarter. Aveo Capital Partners LLC now owns 10,845 shares of the company’s stock worth $437,000 after purchasing an additional 333 shares in the last quarter. 9258 Wealth Management LLC increased its holdings in Altria Group by 17.8% during the 4th quarter. 9258 Wealth Management LLC now owns 6,300 shares of the company’s stock worth $254,000 after purchasing an additional 953 shares during the period. Gryphon Financial Partners LLC acquired a new stake in Altria Group in the 4th quarter valued at about $217,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Altria Group in the 4th quarter valued at about $788,000. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on MO. UBS Group upped their target price 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. Stifel Nicolaus boosted their price target on shares of Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Barclays raised their price objective on shares of Altria Group from $43.00 to $45.00 and gave the company an “underweight” rating in a report on Monday, September 9th. Bank of America lifted their price objective on shares of Altria Group from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Finally, Argus raised Altria Group to a “hold” rating in a report on Friday, May 31st. Two 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $49.67.

Altria Group Trading Up 0.1 %

Shares of NYSE:MO opened at $50.55 on Thursday. The firm has a 50 day simple moving average of $51.15 and a 200-day simple moving average of $46.67. Altria Group, Inc. has a twelve month low of $39.06 and a twelve month high of $54.95. The company has a market capitalization of $86.83 billion, a PE ratio of 10.58, a P/E/G ratio of 3.07 and a beta of 0.65.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same period last year, the firm earned $1.31 earnings per share. Altria Group’s revenue was up 14.2% on a year-over-year basis. As a group, equities research analysts predict that Altria Group, Inc. will post 5.11 EPS for the current fiscal year.

Altria Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Monday, September 16th will be given a $1.02 dividend. The ex-dividend date of this dividend is Monday, September 16th. This is a boost from Altria Group’s previous quarterly dividend of $0.98. This represents a $4.08 dividend on an annualized basis and a dividend yield of 8.07%. Altria Group’s dividend payout ratio is 85.36%.

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.