Verdence Capital Advisors LLC Purchases 2,155 Shares of Altria Group, Inc. (NYSE:MO)

Verdence Capital Advisors LLC increased its stake in Altria Group, Inc. (NYSE:MO) by 2.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 76,223 shares of the company’s stock after buying an additional 2,155 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Altria Group were worth $3,472,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Maryland Capital Advisors Inc. lifted its position in Altria Group by 154.4% in the first quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock worth $25,000 after buying an additional 349 shares during the last quarter. BNP Paribas bought a new stake in Altria Group in the first quarter worth $27,000. MFA Wealth Advisors LLC bought a new stake in Altria Group in the second quarter worth $27,000. Pineridge Advisors LLC bought a new stake in shares of Altria Group during the fourth quarter worth $28,000. Finally, Westend Capital Management LLC bought a new stake in shares of Altria Group during the first quarter worth $29,000. 57.41% of the stock is currently owned by institutional investors.

Altria Group Trading Up 0.5 %

Shares of Altria Group stock traded up $0.27 during trading on Monday, hitting $52.71. 8,055,113 shares of the stock traded hands, compared to its average volume of 10,457,163. The stock’s fifty day simple moving average is $48.53 and its 200 day simple moving average is $45.11. Altria Group, Inc. has a 52-week low of $39.06 and a 52-week high of $53.08. The firm has a market cap of $90.54 billion, a P/E ratio of 11.02, a price-to-earnings-growth ratio of 3.07 and a beta of 0.66.

Altria Group (NYSE:MO) last posted 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 net margin of 42.25% and a negative return on equity of 232.55%. The company had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter last year, the firm earned $1.31 EPS. Altria Group’s revenue for the quarter was up 14.2% on a year-over-year basis. As a group, equities analysts expect that Altria Group, Inc. will post 5.11 EPS for the current year.

Altria Group Increases Dividend

The business also recently announced 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 annualized dividend and a yield of 7.74%. The ex-dividend date is Monday, September 16th. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s payout ratio is 82.01%.

Wall Street Analyst Weigh In

MO has been the subject of several research analyst reports. Argus upgraded Altria Group to a “hold” rating in a research report on Friday, May 31st. Bank of America lifted their target price on Altria Group from $47.00 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research report on Friday, June 28th. Barclays lifted their target price on Altria Group from $37.00 to $43.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 14th. Finally, Stifel Nicolaus lifted their target price on Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Altria Group currently has a consensus rating of “Hold” and an average target price of $47.08.

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.