Consolidated Portfolio Review Corp Makes New Investment in Altria Group, Inc. (NYSE:MO)

Consolidated Portfolio Review Corp purchased a new position in Altria Group, Inc. (NYSE:MO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,139 shares of the company’s stock, valued at approximately $280,000.

A number of other institutional investors have also modified their holdings of the business. Catalyst Financial Partners LLC lifted its position in shares of Altria Group by 2.0% in the second quarter. Catalyst Financial Partners LLC now owns 11,269 shares of the company’s stock worth $513,000 after buying an additional 217 shares during the last quarter. Conning Inc. boosted its position in Altria Group by 2.3% during the second quarter. Conning Inc. now owns 9,794 shares of the company’s stock worth $446,000 after purchasing an additional 219 shares during the period. Patten & Patten Inc. TN grew its holdings in Altria Group by 1.6% during the first quarter. Patten & Patten Inc. TN now owns 14,293 shares of the company’s stock valued at $623,000 after purchasing an additional 224 shares during the last quarter. Hilltop National Bank raised its position in shares of Altria Group by 1.6% in the second quarter. Hilltop National Bank now owns 14,667 shares of the company’s stock valued at $668,000 after purchasing an additional 226 shares during the period. Finally, WMG Financial Advisors LLC lifted its stake in shares of Altria Group by 4.1% in the second quarter. WMG Financial Advisors LLC now owns 5,784 shares of the company’s stock worth $263,000 after buying an additional 229 shares during the last quarter. Institutional investors own 57.41% of the company’s stock.

Altria Group Stock Up 0.8 %

NYSE MO opened at $53.77 on Monday. Altria Group, Inc. has a twelve month low of $39.06 and a twelve month high of $53.82. The stock has a market cap of $92.36 billion, a P/E ratio of 11.25, a PEG ratio of 3.13 and a beta of 0.66. The company’s 50-day simple moving average is $49.35 and its 200 day simple moving average is $45.57.

Altria Group (NYSE:MO) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.31 earnings per share 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 company had revenue of $6.21 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same period in the previous year, the firm posted $1.31 earnings per share. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. Research analysts anticipate that Altria Group, Inc. will post 5.1 earnings per share for the current year.

Altria Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Monday, September 16th will be given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 7.59%. This is a boost from Altria Group’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Monday, September 16th. Altria Group’s dividend payout ratio is 85.36%.

Analyst Ratings Changes

A number of research analysts recently issued reports on MO shares. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a research note on Friday, June 28th. Stifel Nicolaus raised their price target on Altria Group from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Argus raised Altria Group to a “hold” rating in a research report on Friday, May 31st. Bank of America increased their target price on Altria Group from $47.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Finally, Barclays lifted their price target on Altria Group from $37.00 to $43.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 14th. 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.