Vicus Capital Sells 648 Shares of Altria Group, Inc. (NYSE:MO)

Vicus Capital decreased its stake in Altria Group, Inc. (NYSE:MO) by 10.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,646 shares of the company’s stock after selling 648 shares during the period. Vicus Capital’s holdings in Altria Group were worth $288,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of MO. BNP Paribas bought a new position in shares of Altria Group in the 1st quarter valued at about $27,000. MFA Wealth Advisors LLC bought a new position in shares of Altria Group in the 2nd quarter valued at about $27,000. Hobbs Group Advisors LLC bought a new position in shares of Altria Group in the 2nd quarter valued at about $30,000. Valley Wealth Managers Inc. grew its holdings in shares of Altria Group by 63.9% in the 2nd quarter. Valley Wealth Managers Inc. now owns 667 shares of the company’s stock valued at $30,000 after acquiring an additional 260 shares in the last quarter. Finally, Riverview Trust Co bought a new position in Altria Group during the first quarter worth about $36,000. Institutional investors own 57.41% of the company’s stock.

Altria Group Stock Up 2.0 %

Shares of NYSE:MO opened at $50.06 on Wednesday. Altria Group, Inc. has a 12-month low of $39.06 and a 12-month high of $54.95. The stock has a market cap of $85.98 billion, a PE ratio of 10.47, a P/E/G ratio of 2.90 and a beta of 0.65. The business has a 50 day moving average of $51.49 and a 200-day moving average of $47.94.

Altria Group (NYSE:MO) last issued 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 negative return on equity of 232.55% and a net margin of 42.25%. The firm had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the prior year, the firm earned $1.31 EPS. The company’s revenue was up 14.2% on a year-over-year basis. Equities research analysts expect that Altria Group, Inc. will post 5.11 earnings per share for the current year.

Altria Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 16th were paid a $1.02 dividend. This is a boost from Altria Group’s previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a dividend yield of 8.15%. The ex-dividend date was Monday, September 16th. Altria Group’s payout ratio is 85.36%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Barclays lifted their price target on Altria Group from $43.00 to $45.00 and gave the stock an “underweight” rating in a report on Monday, September 9th. StockNews.com cut Altria Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. UBS Group lifted their price target on Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a report on Monday, September 9th. Bank of America reduced their price target on Altria Group from $57.00 to $53.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Finally, Stifel Nicolaus lifted their price target on Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $48.20.

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.