Souders Financial Advisors acquired a new stake in Altria Group, Inc. (NYSE:MO – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,550 shares of the company’s stock, valued at approximately $207,000.
Several other institutional investors have also modified their holdings of MO. Maryland Capital Advisors Inc. lifted its holdings in Altria Group by 154.4% during the 1st quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock worth $25,000 after buying an additional 349 shares during the last quarter. BNP Paribas acquired a new stake in shares of Altria Group during the 1st quarter worth about $27,000. MFA Wealth Advisors LLC purchased a new stake in Altria Group during the second quarter worth approximately $27,000. Pineridge Advisors LLC acquired a new position in Altria Group in the fourth quarter valued at approximately $28,000. Finally, Westend Capital Management LLC purchased a new position in Altria Group in the first quarter valued at approximately $29,000. 57.41% of the stock is owned by hedge funds and other institutional investors.
Altria Group Stock Performance
Shares of NYSE:MO opened at $50.93 on Wednesday. Altria Group, Inc. has a one year low of $39.06 and a one year high of $54.95. The stock has a market capitalization of $87.48 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 2.95 and a beta of 0.65. The company has a 50-day simple moving average of $51.57 and a 200-day simple moving average of $47.25.
Altria Group Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Monday, September 16th will be paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 8.01%. This is an increase from Altria Group’s previous quarterly dividend of $0.98. The ex-dividend date is Monday, September 16th. Altria Group’s dividend payout ratio is 85.36%.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on MO shares. UBS Group boosted their price objective on shares of Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a research report on Monday, September 9th. Stifel Nicolaus boosted their price target 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. Bank of America raised their price objective on 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 target price on Altria Group from $43.00 to $45.00 and gave the stock an “underweight” rating in a research report on Monday, September 9th. Finally, StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a research report on Friday, June 28th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $49.67.
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.
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