RIA Advisory Group LLC Buys New Shares in Altria Group, Inc. (NYSE:MO)

RIA Advisory Group LLC purchased a new position in shares of Altria Group, Inc. (NYSE:MO) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 12,840 shares of the company’s stock, valued at approximately $655,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC lifted its stake in Altria Group by 15.3% in the third quarter. CWM LLC now owns 305,704 shares of the company’s stock worth $15,603,000 after purchasing an additional 40,574 shares during the last quarter. Regal Investment Advisors LLC lifted its stake in shares of Altria Group by 4.2% in the 2nd quarter. Regal Investment Advisors LLC now owns 251,933 shares of the company’s stock valued at $11,476,000 after acquiring an additional 10,079 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in Altria Group by 2.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 1,456,308 shares of the company’s stock valued at $74,330,000 after acquiring an additional 32,318 shares during the period. Los Angeles Capital Management LLC grew its position in Altria Group by 729.8% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,969,262 shares of the company’s stock worth $100,511,000 after acquiring an additional 1,731,932 shares during the last quarter. Finally, White Lighthouse Investment Management Inc. purchased a new position in Altria Group in the 3rd quarter worth approximately $483,000. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Altria Group Price Performance

Shares of NYSE MO opened at $55.93 on Friday. Altria Group, Inc. has a 1 year low of $39.25 and a 1 year high of $56.32. The stock has a market capitalization of $94.79 billion, a P/E ratio of 9.45, a P/E/G ratio of 3.14 and a beta of 0.64. The company’s 50-day moving average is $51.59 and its 200 day moving average is $49.22.

Altria Group (NYSE:MO) last posted its 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 firm had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $5.33 billion. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. The business’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.28 EPS. Research analysts anticipate that Altria Group, Inc. will post 5.11 earnings per share for the current year.

Altria Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 16th were given a dividend of $1.02 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $4.08 annualized dividend and a yield of 7.29%. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s dividend payout ratio (DPR) is currently 68.92%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Citigroup raised their target price on shares of Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Bank of America cut their price target on shares of Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Barclays upped their price objective on shares of Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research note on Wednesday, November 6th. UBS Group boosted their price target on Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a report on Monday, September 9th. Finally, Stifel Nicolaus upped their price target on Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Altria Group currently has a consensus 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.