Kathmere Capital Management LLC Acquires 4,769 Shares of Altria Group, Inc. (NYSE:MO)

Kathmere Capital Management LLC boosted its position in Altria Group, Inc. (NYSE:MO) by 17.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 32,477 shares of the company’s stock after acquiring an additional 4,769 shares during the period. Kathmere Capital Management LLC’s holdings in Altria Group were worth $1,479,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Oliver Lagore Vanvalin Investment Group lifted its stake in Altria Group by 41.8% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 1,798 shares of the company’s stock valued at $82,000 after acquiring an additional 530 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Altria Group by 1.6% during the 2nd quarter. Legal & General Group Plc now owns 12,355,509 shares of the company’s stock valued at $562,793,000 after buying an additional 191,236 shares in the last quarter. MBB Public Markets I LLC purchased a new position in shares of Altria Group in the second quarter valued at $5,565,000. Daymark Wealth Partners LLC grew its stake in Altria Group by 5.7% during the second quarter. Daymark Wealth Partners LLC now owns 29,592 shares of the company’s stock valued at $1,348,000 after acquiring an additional 1,598 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C raised its position in shares of Altria Group by 88.2% in the second quarter. Deerfield Management Company L.P. Series C now owns 20,214 shares of the company’s stock worth $921,000 after buying an additional 9,475 shares in the last quarter. Institutional investors own 57.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MO. Bank of America increased their price target on shares of Altria Group from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Barclays lifted their price target on shares of Altria Group from $43.00 to $45.00 and gave the company an “underweight” rating in a research report on Monday, September 9th. UBS Group raised their price objective on shares of Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a research note on Monday, September 9th. Stifel Nicolaus increased their price objective on shares of Altria Group from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Argus upgraded shares of Altria Group to a “hold” rating in a research report on Friday, May 31st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Altria Group currently has a consensus rating of “Hold” and an average price target of $49.67.

Altria Group Trading Down 0.1 %

NYSE:MO opened at $51.04 on Friday. The stock has a 50-day moving average price of $51.50 and a 200 day moving average price of $47.10. Altria Group, Inc. has a 12-month low of $39.06 and a 12-month high of $54.95. The stock has a market capitalization of $87.67 billion, a P/E ratio of 10.68, a P/E/G ratio of 2.95 and a beta of 0.65.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.31 earnings per share (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 company had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same period last year, the business earned $1.31 earnings per share. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. On average, research analysts predict 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 will be paid on Thursday, October 10th. Shareholders of record on Monday, September 16th will be paid a $1.02 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $4.08 annualized dividend and a yield of 7.99%. This is a boost from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s payout ratio is presently 85.36%.

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.