Thrivent Financial for Lutherans Sells 136,470 Shares of Altria Group, Inc. (NYSE:MO)

Thrivent Financial for Lutherans lessened its holdings in Altria Group, Inc. (NYSE:MO) by 24.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 432,143 shares of the company’s stock after selling 136,470 shares during the period. Thrivent Financial for Lutherans’ holdings in Altria Group were worth $19,684,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of MO. Sei Investments Co. increased its holdings in shares of Altria Group by 4.1% during the second quarter. Sei Investments Co. now owns 1,097,005 shares of the company’s stock worth $49,969,000 after buying an additional 42,904 shares in the last quarter. AE Wealth Management LLC boosted its stake in shares of Altria Group by 88.8% during the second quarter. AE Wealth Management LLC now owns 599,104 shares of the company’s stock valued at $27,289,000 after purchasing an additional 281,702 shares in the last quarter. Hollencrest Capital Management grew its holdings in shares of Altria Group by 0.3% during the second quarter. Hollencrest Capital Management now owns 76,595 shares of the company’s stock worth $3,489,000 after purchasing an additional 203 shares during the last quarter. Bridges Investment Management Inc. increased its stake in shares of Altria Group by 21.3% in the second quarter. Bridges Investment Management Inc. now owns 65,158 shares of the company’s stock valued at $2,968,000 after buying an additional 11,421 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in Altria Group by 6.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 47,414 shares of the company’s stock valued at $2,160,000 after buying an additional 2,848 shares during the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Stock Performance

Shares of MO opened at $51.21 on Wednesday. The firm has a market cap of $87.96 billion, a PE ratio of 10.71, a price-to-earnings-growth ratio of 3.07 and a beta of 0.65. Altria Group, Inc. has a 52-week low of $39.06 and a 52-week high of $54.95. The business’s 50 day moving average price is $51.40 and its two-hundred day moving average price is $46.98.

Altria Group (NYSE:MO) last issued its earnings results 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). Altria Group had a negative return on equity of 232.55% and a net margin of 42.25%. The company had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the prior year, the company earned $1.31 earnings per share. The firm’s revenue was up 14.2% compared to the same quarter last year. 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 disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders 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 yield of 7.97%. 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. Altria Group’s dividend payout ratio (DPR) is 85.36%.

Analyst Ratings Changes

Several brokerages have issued reports on MO. 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 increased their price objective on Altria Group from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Barclays lifted their target price on Altria Group from $43.00 to $45.00 and gave the stock an “underweight” rating in a report on Monday, September 9th. UBS Group raised their price objective on Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a research report on Monday, September 9th. Finally, Argus upgraded Altria Group to a “hold” rating in a report on Friday, May 31st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus 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.