CoreCap Advisors LLC boosted its holdings in Altria Group, Inc. (NYSE:MO – Free Report) by 8.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 124,155 shares of the company’s stock after purchasing an additional 10,182 shares during the quarter. CoreCap Advisors LLC’s holdings in Altria Group were worth $8,361,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the business. Illinois Municipal Retirement Fund boosted its stake in Altria Group by 7.1% in the 4th quarter. Illinois Municipal Retirement Fund now owns 668,243 shares of the company’s stock worth $38,531,000 after purchasing an additional 44,267 shares during the period. Procyon Advisors LLC lifted its holdings in shares of Altria Group by 59.3% in the first quarter. Procyon Advisors LLC now owns 38,926 shares of the company’s stock worth $2,569,000 after buying an additional 14,490 shares in the last quarter. Stephens Inc. AR boosted its position in shares of Altria Group by 8.6% during the first quarter. Stephens Inc. AR now owns 266,504 shares of the company’s stock worth $17,696,000 after acquiring an additional 21,124 shares during the last quarter. Callan Family Office LLC bought a new position in shares of Altria Group during the second quarter worth $2,911,000. Finally, Panagora Asset Management Inc. grew its stake in Altria Group by 4,053.7% during the fourth quarter. Panagora Asset Management Inc. now owns 1,681,875 shares of the company’s stock valued at $96,977,000 after acquiring an additional 1,641,384 shares in the last quarter. 57.41% of the stock is currently owned by hedge funds and other institutional investors.
Altria Group Stock Up 3.0%
NYSE MO traded up $2.09 during trading hours on Thursday, hitting $71.47. 11,647,621 shares of the company were exchanged, compared to its average volume of 9,148,997. Altria Group, Inc. has a 52 week low of $54.70 and a 52 week high of $77.06. The stock has a 50-day moving average price of $68.01 and a 200 day moving average price of $69.27. The stock has a market cap of $119.34 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 2.43 and a beta of 0.42.
Altria Group Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Tuesday, September 15th will be given a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 6.2%. This is a positive change from Altria Group’s previous quarterly dividend of $1.06. The ex-dividend date is Tuesday, September 15th. Altria Group’s dividend payout ratio (DPR) is presently 93.67%.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on the stock. Barclays reduced their price target on shares of Altria Group from $64.00 to $58.00 and set an “underweight” rating on the stock in a report on Tuesday, August 11th. UBS Group increased their price target on Altria Group from $76.00 to $79.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Freedom Broker upgraded Altria Group to a “hold” rating in a report on Wednesday, September 16th. Wall Street Zen cut Altria Group from a “buy” rating to a “hold” rating in a report on Sunday, June 21st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Altria Group in a research report on Tuesday, July 14th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $70.11.
View Our Latest Analysis on Altria Group
Insider Buying and Selling at Altria Group
In other news, Director Kathryn McQuade bought 1,500 shares of Altria Group stock in a transaction dated Wednesday, September 9th. The shares were acquired at an average price of $67.62 per share, with a total value of $101,430.00. Following the completion of the purchase, the director owned 114,929 shares in the company, valued at $7,771,498.98. The trade was a 1.32% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.10% of the company’s stock.
About Altria Group
Altria Group, Inc is a U.S.-based holding company focused primarily on tobacco and nicotine products. Through its operating companies, Altria manufactures and markets cigarettes, cigars, smokeless tobacco, oral nicotine products and electronic cigarettes. Its portfolio includes well-known brands such as Marlboro cigarettes, Copenhagen and Skoal smokeless tobacco, Black & Mild cigars, NJOY e-cigarettes and on! nicotine pouches.
Altria’s principal businesses include Philip Morris USA, the largest U.S.
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