Altria Group, Inc. (NYSE:MO) Stock Holdings Decreased by ProVise Management Group LLC

ProVise Management Group LLC decreased its stake in shares of Altria Group, Inc. (NYSE:MO) by 1.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,239 shares of the company’s stock after selling 500 shares during the period. ProVise Management Group LLC’s holdings in Altria Group were worth $2,106,000 as of its most recent filing with the SEC.

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

Altria Group Price Performance

Shares of MO stock opened at $50.23 on Friday. Altria Group, Inc. has a 12-month low of $39.06 and a 12-month high of $54.95. The firm has a market capitalization of $86.28 billion, a price-to-earnings ratio of 10.51, a price-to-earnings-growth ratio of 3.07 and a beta of 0.65. The business has a 50 day simple moving average of $51.22 and a 200 day simple moving average of $46.69.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $1.31 EPS 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 business had revenue of $6.21 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same period last year, the business posted $1.31 earnings per share. Altria Group’s revenue for the quarter was up 14.2% on a year-over-year basis. On average, equities analysts anticipate that Altria Group, Inc. will post 5.11 EPS for the current fiscal year.

Altria Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Monday, September 16th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 8.12%. 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 payout ratio is 85.36%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Argus raised shares of Altria Group to a “hold” rating in a research report on Friday, May 31st. Barclays upped their target price on Altria Group from $43.00 to $45.00 and gave the company an “underweight” rating in a report on Monday, September 9th. Stifel Nicolaus increased their price target on 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 boosted their price objective on Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a research report on Monday, September 9th. Finally, Bank of America increased their target price on Altria Group from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Two 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $49.67.

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.