Mid American Wealth Advisory Group Inc. Sells 9,317 Shares of Altria Group, Inc. (NYSE:MO)

Mid American Wealth Advisory Group Inc. cut its holdings in shares of Altria Group, Inc. (NYSE:MO) by 18.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,383 shares of the company’s stock after selling 9,317 shares during the quarter. Altria Group makes up about 1.4% of Mid American Wealth Advisory Group Inc.’s investment portfolio, making the stock its 21st biggest position. Mid American Wealth Advisory Group Inc.’s holdings in Altria Group were worth $2,163,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Maryland Capital Advisors Inc. raised its stake in Altria Group by 154.4% during the 1st quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock valued at $25,000 after purchasing an additional 349 shares during the period. BNP Paribas purchased a new stake in Altria Group during the 1st quarter valued at approximately $27,000. MFA Wealth Advisors LLC bought a new stake in shares of Altria Group during the second quarter valued at approximately $27,000. Pineridge Advisors LLC purchased a new position in shares of Altria Group in the fourth quarter worth $28,000. Finally, Westend Capital Management LLC bought a new position in shares of Altria Group during the first quarter worth $29,000. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Altria Group Stock Performance

Shares of MO stock opened at $50.59 on Thursday. The firm has a market capitalization of $86.89 billion, a P/E ratio of 10.58, a P/E/G ratio of 2.95 and a beta of 0.65. Altria Group, Inc. has a 52-week low of $39.06 and a 52-week high of $54.95. The stock has a 50 day moving average price of $51.59 and a 200 day moving average price of $47.27.

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). The business had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $5.39 billion. Altria Group had a negative return on equity of 232.55% and a net margin of 42.25%. The firm’s revenue was up 14.2% compared to the same quarter last year. During the same period last year, the company earned $1.31 earnings per share. As a group, sell-side analysts forecast that Altria Group, Inc. will post 5.11 EPS for the current year.

Altria Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Monday, September 16th will be given a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 8.07%. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Monday, September 16th. Altria Group’s payout ratio is presently 85.36%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. UBS Group lifted their price target on shares of Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a report on Monday, September 9th. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research report on Friday, June 28th. Bank of America raised their price target on Altria Group from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Barclays upped their price objective on Altria Group from $43.00 to $45.00 and gave the stock an “underweight” rating in a report on Monday, September 9th. Finally, Stifel Nicolaus boosted their price target on shares of Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $49.67.

Altria Group Company 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.