Three Seasons Wealth LLC boosted its holdings in shares of Altria Group, Inc. (NYSE:MO – Free Report) by 143.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,496 shares of the company’s stock after acquiring an additional 30,315 shares during the period. Altria Group comprises 0.3% of Three Seasons Wealth LLC’s portfolio, making the stock its 26th largest holding. Three Seasons Wealth LLC’s holdings in Altria Group were worth $3,705,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the stock. GQG Partners LLC purchased a new position in Altria Group in the 2nd quarter valued at about $1,806,782,000. Bank of America Corp DE acquired a new position in Altria Group during the second quarter worth approximately $1,104,566,000. Legal & General Group Plc acquired a new position in Altria Group during the second quarter worth approximately $631,606,000. Charles Schwab Investment Management Inc. raised its stake in Altria Group by 10.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 65,516,916 shares of the company’s stock worth $3,777,931,000 after purchasing an additional 6,265,780 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in Altria Group during the second quarter worth approximately $349,743,000. 57.41% of the stock is owned by institutional investors and hedge funds.
Altria Group Price Performance
NYSE:MO opened at $68.80 on Friday. Altria Group, Inc. has a 12-month low of $54.70 and a 12-month high of $77.06. The firm has a market capitalization of $114.88 billion, a P/E ratio of 14.51, a P/E/G ratio of 2.46 and a beta of 0.45. The business has a 50 day simple moving average of $69.82 and a 200 day simple moving average of $69.07.
Altria Group Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Tuesday, September 15th will be paid a $1.11 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This is a positive change from Altria Group’s previous quarterly dividend of $1.06. This represents a $4.44 annualized dividend and a dividend yield of 6.5%. Altria Group’s dividend payout ratio (DPR) is currently 89.45%.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on MO shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Altria Group in a research note on Tuesday, July 14th. UBS Group raised their target price on Altria Group from $76.00 to $79.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Wall Street Zen downgraded shares of Altria Group from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. Barclays dropped their price target on shares of Altria Group from $64.00 to $58.00 and set an “underweight” rating for the company in a research note on Tuesday, August 11th. Finally, Jefferies Financial Group increased their price objective on shares of Altria Group from $50.00 to $60.00 and gave the company an “underperform” rating in a research note on Wednesday, May 27th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Altria Group currently has a consensus rating of “Hold” and a consensus price target of $70.11.
Get Our Latest Research Report on Altria Group
About Altria Group
Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.
Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.
Featured Stories
- Five stocks we like better than Altria Group
- Revolution Medicines Got Its Breakthrough—What Moves It Next?
- Retail Earnings Just Exposed a Bigger Divide in the U.S. Consumer Economy
- FB Financial’s Southern Expansion and Buybacks Drive Analyst Optimism
- AST SpaceMobile Stock Soared 12%—This Was the Catalyst
Want to see what other hedge funds are holding MO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altria Group, Inc. (NYSE:MO – Free Report).
Receive News & Ratings for Altria Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altria Group and related companies with MarketBeat.com's FREE daily email newsletter.
