Newbridge Financial Services Group Inc. Acquires 4,019 Shares of Altria Group, Inc. (NYSE:MO)

Newbridge Financial Services Group Inc. increased its holdings in Altria Group, Inc. (NYSE:MOGet Rating) by 39.5% during the 2nd quarter, Holdings Channel reports. The firm owned 14,195 shares of the company’s stock after buying an additional 4,019 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Altria Group were worth $593,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Intrua Financial LLC lifted its holdings in shares of Altria Group by 1.1% during the first quarter. Intrua Financial LLC now owns 18,003 shares of the company’s stock valued at $941,000 after purchasing an additional 200 shares during the last quarter. Jmac Enterprises LLC lifted its holdings in shares of Altria Group by 4.7% during the first quarter. Jmac Enterprises LLC now owns 4,490 shares of the company’s stock valued at $235,000 after purchasing an additional 200 shares during the last quarter. Orca Investment Management LLC lifted its holdings in shares of Altria Group by 1.9% during the first quarter. Orca Investment Management LLC now owns 10,745 shares of the company’s stock valued at $561,000 after purchasing an additional 201 shares during the last quarter. ICW Investment Advisors LLC lifted its holdings in shares of Altria Group by 0.9% during the first quarter. ICW Investment Advisors LLC now owns 22,843 shares of the company’s stock valued at $1,194,000 after purchasing an additional 205 shares during the last quarter. Finally, Ameritas Advisory Services LLC lifted its holdings in shares of Altria Group by 0.5% during the first quarter. Ameritas Advisory Services LLC now owns 38,866 shares of the company’s stock valued at $2,031,000 after purchasing an additional 209 shares during the last quarter. 59.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MO. Bank of America lowered their target price on shares of Altria Group from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, July 8th. Cowen decreased their price objective on shares of Altria Group from $56.00 to $45.00 and set a “market perform” rating for the company in a report on Monday, June 27th. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a report on Monday. Morgan Stanley upgraded shares of Altria Group from an “underweight” rating to an “equal weight” rating and decreased their price objective for the stock from $47.00 to $43.00 in a report on Friday, June 24th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Altria Group from $60.00 to $46.00 and set a “buy” rating for the company in a report on Friday, July 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $47.00.

Altria Group Stock Performance

Shares of MO stock traded down $1.99 during mid-day trading on Friday, reaching $41.28. 264,588 shares of the company’s stock traded hands, compared to its average volume of 9,731,334. Altria Group, Inc. has a 12 month low of $41.00 and a 12 month high of $57.05. The firm has a 50 day moving average price of $44.27 and a two-hundred day moving average price of $48.49. The firm has a market capitalization of $74.34 billion, a PE ratio of 44.61, a price-to-earnings-growth ratio of 1.36 and a beta of 0.59.

Altria Group (NYSE:MOGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. Altria Group had a net margin of 6.88% and a negative return on equity of 488.86%. The firm had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.42 billion. During the same quarter in the previous year, the firm posted $1.23 EPS. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, equities analysts expect that Altria Group, Inc. will post 4.85 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 11th. Investors of record on Thursday, September 15th will be issued a $0.94 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $3.76 annualized dividend and a yield of 9.11%. This is an increase from Altria Group’s previous quarterly dividend of $0.90. Altria Group’s dividend payout ratio is currently 387.63%.

About Altria Group

(Get Rating)

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company provides cigarettes primarily under the Marlboro brand; cigars and pipe tobacco principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands, as well as provides on! oral nicotine pouches.

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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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