Altria Group, Inc. (NYSE:MO) Stock Position Lifted by Diversify Advisory Services LLC

Diversify Advisory Services LLC lifted its stake in shares of Altria Group, Inc. (NYSE:MO) by 9.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,249 shares of the company’s stock after acquiring an additional 5,414 shares during the quarter. Diversify Advisory Services LLC’s holdings in Altria Group were worth $3,266,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MO. Integrated Advisors Network LLC increased its holdings in shares of Altria Group by 4.6% in the third quarter. Integrated Advisors Network LLC now owns 31,443 shares of the company’s stock valued at $1,605,000 after buying an additional 1,385 shares in the last quarter. SC&H Financial Advisors Inc. purchased a new position in Altria Group during the 3rd quarter worth approximately $217,000. MBA Advisors LLC raised its stake in Altria Group by 9.1% during the 3rd quarter. MBA Advisors LLC now owns 11,990 shares of the company’s stock valued at $612,000 after purchasing an additional 1,005 shares during the period. Fortitude Family Office LLC lifted its holdings in shares of Altria Group by 37.1% in the third quarter. Fortitude Family Office LLC now owns 6,418 shares of the company’s stock valued at $328,000 after purchasing an additional 1,738 shares in the last quarter. Finally, Traynor Capital Management Inc. boosted its position in shares of Altria Group by 2.9% in the third quarter. Traynor Capital Management Inc. now owns 22,979 shares of the company’s stock worth $1,173,000 after buying an additional 657 shares during the period. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Altria Group Stock Performance

Shares of MO traded up $0.12 during trading hours on Tuesday, hitting $50.37. 387,630 shares of the company were exchanged, compared to its average volume of 9,784,972. The company has a market cap of $86.52 billion, a PE ratio of 10.52, a PEG ratio of 2.89 and a beta of 0.65. The firm’s 50 day moving average is $51.40 and its 200-day moving average is $48.17. Altria Group, Inc. has a 52 week low of $39.25 and a 52 week high of $54.95.

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 analysts’ consensus estimates 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 firm had revenue of $6.21 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same quarter in the previous year, the business posted $1.31 earnings per share. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. As a group, equities analysts forecast that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 16th were given a $1.02 dividend. This is an increase from Altria Group’s previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a yield of 8.10%. The ex-dividend date was Monday, September 16th. Altria Group’s payout ratio is currently 85.36%.

Analysts Set New Price Targets

Several brokerages recently issued reports on MO. Stifel Nicolaus increased their price objective on Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Citigroup increased their price target on shares of Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Bank of America lowered their price objective on shares of Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. StockNews.com downgraded shares of Altria Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Finally, Barclays boosted their price target on shares of Altria Group from $43.00 to $45.00 and gave the company an “underweight” rating in a report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Altria Group has an average rating of “Hold” and an average price target of $48.20.

About Altria Group

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.