Sequoia Financial Advisors LLC Boosts Stake in Altria Group, Inc. (NYSE:MO)

Sequoia Financial Advisors LLC boosted its holdings in Altria Group, Inc. (NYSE:MO) by 10.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,263 shares of the company’s stock after acquiring an additional 4,032 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Altria Group were worth $2,157,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MO. Delta Investment Management LLC increased its holdings in shares of Altria Group by 2.9% in the 2nd quarter. Delta Investment Management LLC now owns 7,064 shares of the company’s stock valued at $322,000 after purchasing an additional 198 shares in the last quarter. Scarborough Advisors LLC increased its holdings in Altria Group by 18.5% in the second quarter. Scarborough Advisors LLC now owns 1,283 shares of the company’s stock valued at $58,000 after buying an additional 200 shares in the last quarter. Zhang Financial LLC lifted its position in shares of Altria Group by 1.1% during the 3rd quarter. Zhang Financial LLC now owns 18,454 shares of the company’s stock valued at $942,000 after acquiring an additional 202 shares during the period. Hollencrest Capital Management boosted its stake in shares of Altria Group by 0.3% during the 2nd quarter. Hollencrest Capital Management now owns 76,595 shares of the company’s stock worth $3,489,000 after acquiring an additional 203 shares in the last quarter. Finally, SP Asset Management LLC boosted its stake in shares of Altria Group by 2.5% during the 2nd quarter. SP Asset Management LLC now owns 8,211 shares of the company’s stock worth $374,000 after acquiring an additional 204 shares in the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Stock Up 0.2 %

Shares of Altria Group stock opened at $49.92 on Friday. Altria Group, Inc. has a fifty-two week low of $39.06 and a fifty-two week high of $54.95. The business’s fifty day moving average is $51.46 and its two-hundred day moving average is $47.95. The firm has a market cap of $85.74 billion, a PE ratio of 10.44, a P/E/G ratio of 2.90 and a beta of 0.65.

Altria Group (NYSE:MO) last released its earnings results on Wednesday, July 31st. The company reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.04). The business had revenue of $6.21 billion for 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 business’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.31 earnings per share. Equities research analysts anticipate that Altria Group, Inc. will post 5.11 EPS for the current year.

Altria Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 16th were issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 8.17%. This is an increase from Altria Group’s previous quarterly dividend of $0.98. The ex-dividend date was Monday, September 16th. Altria Group’s payout ratio is presently 85.36%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Stifel Nicolaus lifted their price objective on Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Barclays lifted their price target on Altria Group from $43.00 to $45.00 and gave the stock an “underweight” rating in a research note on Monday, September 9th. UBS Group increased 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. Bank of America cut their target price on shares of Altria Group from $57.00 to $53.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Finally, Citigroup upped their target price on Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $48.20.

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.