Altria Group, Inc. (NYSE:MO) Shares Sold by Bridges Investment Management Inc.

Bridges Investment Management Inc. decreased its holdings in shares of Altria Group, Inc. (NYSE:MO) by 5.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,456 shares of the company’s stock after selling 3,702 shares during the period. Bridges Investment Management Inc.’s holdings in Altria Group were worth $3,137,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MO. MFA Wealth Advisors LLC acquired a new position in Altria Group during the 2nd quarter worth approximately $27,000. Hobbs Group Advisors LLC acquired a new stake in shares of Altria Group in the 2nd quarter worth approximately $30,000. Valley Wealth Managers Inc. grew its holdings in shares of Altria Group by 63.9% in the 2nd quarter. Valley Wealth Managers Inc. now owns 667 shares of the company’s stock worth $30,000 after acquiring an additional 260 shares during the period. Lynx Investment Advisory acquired a new stake in shares of Altria Group in the 2nd quarter worth approximately $44,000. Finally, Covestor Ltd grew its holdings in shares of Altria Group by 33.4% in the 1st quarter. Covestor Ltd now owns 1,047 shares of the company’s stock worth $46,000 after acquiring an additional 262 shares during the period. Institutional investors and hedge funds own 57.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. UBS Group upped their price target on Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft upped their price target on Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Stifel Nicolaus upped their price target on Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Bank of America lowered their price target on Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $51.33.

Altria Group Stock Performance

MO stock opened at $54.07 on Friday. Altria Group, Inc. has a 1 year low of $39.25 and a 1 year high of $55.05. The stock’s 50 day moving average price is $51.50 and its 200 day moving average price is $48.81. The firm has a market cap of $91.64 billion, a P/E ratio of 9.13, a PEG ratio of 3.09 and a beta of 0.64.

Altria Group (NYSE:MO) last posted its earnings results on Thursday, October 31st. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.03. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.33 billion. During the same quarter in the prior year, the company earned $1.28 EPS. Altria Group’s revenue was up 18.6% on a year-over-year basis. On average, research analysts predict that Altria Group, Inc. will post 5.11 earnings per share for the current 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 paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.55%. The ex-dividend date was Monday, September 16th. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s dividend payout ratio is currently 68.92%.

Altria Group Company 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.