Dimensional Fund Advisors LP decreased its position in Altria Group, Inc. (NYSE:MO – Free Report) by 1.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,550,678 shares of the company’s stock after selling 65,180 shares during the period. Dimensional Fund Advisors LP owned approximately 0.26% of Altria Group worth $207,281,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of MO. Gilbert & Cook Inc. increased its stake in Altria Group by 3.3% in 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 in the last quarter. Aveo Capital Partners LLC increased its stake in Altria Group by 3.2% in the fourth quarter. Aveo Capital Partners LLC now owns 10,845 shares of the company’s stock valued at $437,000 after purchasing an additional 333 shares in the last quarter. 9258 Wealth Management LLC increased its stake in Altria Group by 17.8% in the fourth quarter. 9258 Wealth Management LLC now owns 6,300 shares of the company’s stock valued at $254,000 after purchasing an additional 953 shares in the last quarter. Gryphon Financial Partners LLC bought a new stake in Altria Group in the fourth quarter valued at $217,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Altria Group in the fourth quarter valued at $788,000. Institutional investors and hedge funds own 57.41% of the company’s stock.
Altria Group Stock Performance
Altria Group stock opened at $50.23 on Friday. Altria Group, Inc. has a fifty-two week low of $39.06 and a fifty-two week high of $54.95. The stock has a market cap of $86.28 billion, a PE ratio of 10.51, a price-to-earnings-growth ratio of 3.07 and a beta of 0.65. The firm’s 50-day simple moving average is $51.22 and its 200 day simple moving average is $46.69.
Altria Group Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Monday, September 16th will be issued a dividend of $1.02 per share. The ex-dividend date is Monday, September 16th. This is a boost from Altria Group’s previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a yield of 8.12%. Altria Group’s payout ratio is 85.36%.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on MO shares. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a research note on Friday, June 28th. Barclays lifted their price target on shares of Altria Group from $43.00 to $45.00 and gave the company an “underweight” rating in a research note on Monday, September 9th. Stifel Nicolaus boosted their target price 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. 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 research report on Wednesday, September 4th. Finally, Argus raised shares of Altria Group to a “hold” rating in a research report on Friday, May 31st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $49.67.
Get Our Latest Research Report on Altria Group
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.
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