Platform Technology Partners Cuts Stock Position in Altria Group, Inc. (NYSE:MO)

Platform Technology Partners decreased its holdings in shares of Altria Group, Inc. (NYSE:MO) by 6.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,641 shares of the company’s stock after selling 500 shares during the period. Platform Technology Partners’ holdings in Altria Group were worth $390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Altria Group Stock Performance

MO opened at $53.94 on Tuesday. The business’s 50 day moving average price is $51.50 and its 200 day moving average price is $48.97. The stock has a market capitalization of $91.42 billion, a PE ratio of 9.11, a P/E/G ratio of 3.07 and a beta of 0.64. Altria Group, Inc. has a one year low of $39.25 and a one year high of $55.05.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.03. The business had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $5.33 billion. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. The company’s revenue was up 18.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.28 EPS. As a group, equities research analysts forecast that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Monday, September 16th were paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.56%. This is an increase from Altria Group’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend was Monday, September 16th. Altria Group’s payout ratio is 68.92%.

Wall Street Analysts Forecast Growth

MO has been the topic of a number of research reports. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Citigroup upped their price objective on shares of Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Barclays raised their target price on shares of Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 6th. Stifel Nicolaus increased their price target on Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Bank of America lowered their price objective on Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $51.33.

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.