Applied Capital LLC FL trimmed its position in Altria Group, Inc. (NYSE:MO – Free Report) by 1.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,493 shares of the company’s stock after selling 460 shares during the period. Applied Capital LLC FL’s holdings in Altria Group were worth $1,612,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of MO. Brighton Jones LLC boosted its stake in Altria Group by 64.7% in the fourth quarter. Brighton Jones LLC now owns 17,702 shares of the company’s stock valued at $926,000 after acquiring an additional 6,954 shares during the period. GAMMA Investing LLC raised its holdings in Altria Group by 17.8% during the first quarter. GAMMA Investing LLC now owns 36,028 shares of the company’s stock worth $2,162,000 after purchasing an additional 5,440 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Altria Group by 903.6% during the first quarter. Assenagon Asset Management S.A. now owns 435,182 shares of the company’s stock worth $26,120,000 after purchasing an additional 391,819 shares in the last quarter. Simon Quick Advisors LLC raised its holdings in Altria Group by 10.5% during the first quarter. Simon Quick Advisors LLC now owns 11,531 shares of the company’s stock worth $692,000 after purchasing an additional 1,098 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of Altria Group by 7.9% in the first quarter. Fifth Third Bancorp now owns 78,321 shares of the company’s stock valued at $4,701,000 after buying an additional 5,764 shares in the last quarter. 57.41% of the stock is currently owned by institutional investors and hedge funds.
Altria Group Stock Performance
Shares of MO opened at $66.54 on Friday. Altria Group, Inc. has a 52 week low of $48.86 and a 52 week high of $68.60. The firm has a market capitalization of $111.78 billion, a P/E ratio of 12.87, a P/E/G ratio of 3.66 and a beta of 0.55. The company has a 50-day simple moving average of $65.72 and a 200-day simple moving average of $61.20.
Altria Group Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Monday, September 15th were paid a dividend of $1.06 per share. This is a positive change from Altria Group’s previous quarterly dividend of $1.02. This represents a $4.24 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend was Monday, September 15th. Altria Group’s payout ratio is currently 82.01%.
Wall Street Analyst Weigh In
Several research analysts have issued reports on MO shares. Morgan Stanley upped their price target on Altria Group from $57.00 to $62.00 and gave the company an “equal weight” rating in a report on Thursday, July 31st. Bank of America boosted their price target on shares of Altria Group from $64.00 to $72.00 and gave the company a “buy” rating in a report on Friday, August 22nd. Jefferies Financial Group initiated coverage on shares of Altria Group in a report on Wednesday, July 9th. They set an “underperform” rating and a $50.00 price target on the stock. The Goldman Sachs Group boosted their price target on shares of Altria Group from $65.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Finally, Barclays upped their price objective on shares of Altria Group from $49.00 to $57.00 and gave the stock an “underweight” rating in a report on Wednesday, August 6th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Altria Group currently has an average rating of “Hold” and an average target price of $62.11.
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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