Resonant Capital Advisors LLC Raises Stock Holdings in Altria Group, Inc. (NYSE:MO)

Resonant Capital Advisors LLC grew its stake in Altria Group, Inc. (NYSE:MO) by 8.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 6,113 shares of the company’s stock after acquiring an additional 487 shares during the period. Resonant Capital Advisors LLC’s holdings in Altria Group were worth $284,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. FSA Advisors Inc. raised its holdings in shares of Altria Group by 14.1% in the 2nd quarter. FSA Advisors Inc. now owns 5,375 shares of the company’s stock valued at $239,000 after buying an additional 663 shares during the period. Elevated Capital Advisors LLC purchased a new stake in Altria Group during the 2nd quarter worth approximately $611,000. Cravens & Co Advisors LLC lifted its holdings in Altria Group by 4.8% during the 2nd quarter. Cravens & Co Advisors LLC now owns 8,347 shares of the company’s stock worth $380,000 after buying an additional 384 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of Altria Group by 3.1% in the second quarter. Natixis Advisors LLC now owns 823,545 shares of the company’s stock worth $37,512,000 after acquiring an additional 24,910 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its holdings in Altria Group by 1.3% in the second quarter. D.A. Davidson & CO. now owns 336,425 shares of the company’s stock valued at $15,324,000 after purchasing an additional 4,321 shares during the period. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Altria Group Stock Up 0.8 %

Shares of NYSE MO opened at $53.77 on Tuesday. The stock has a market cap of $92.36 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 3.13 and a beta of 0.66. Altria Group, Inc. has a 52-week low of $39.06 and a 52-week high of $53.82. The business has a 50-day moving average price of $49.49 and a 200 day moving average price of $45.67.

Altria Group (NYSE:MO) last announced its earnings results on Wednesday, July 31st. The company reported $1.31 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 business had revenue of $6.21 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same period in the previous year, the firm earned $1.31 earnings per share. The business’s revenue was up 14.2% compared to the same quarter last year. Sell-side 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 disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Monday, September 16th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, September 16th. 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 7.59%. Altria Group’s dividend payout ratio is currently 85.36%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Barclays increased their price target on Altria Group from $37.00 to $43.00 and gave the company an “underweight” rating in a research report on Wednesday, August 14th. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a report on Friday, June 28th. Argus raised shares of Altria Group to a “hold” rating in a research report on Friday, May 31st. Stifel Nicolaus increased their target price on Altria Group from $50.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Bank of America lifted their price target on Altria Group from $47.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Altria Group presently has an average rating of “Hold” and a consensus price target of $47.08.

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.