McGlone Suttner Wealth Management Inc. Grows Stock Position in Altria Group, Inc. (NYSE:MO)

McGlone Suttner Wealth Management Inc. raised its stake in shares of Altria Group, Inc. (NYSE:MO) by 6.5% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 6,739 shares of the company’s stock after buying an additional 410 shares during the period. McGlone Suttner Wealth Management Inc.’s holdings in Altria Group were worth $344,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Maryland Capital Advisors Inc. increased its stake in shares of Altria Group by 154.4% in 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 in the last quarter. MFA Wealth Advisors LLC acquired a new stake in Altria Group in the 2nd quarter worth about $27,000. BNP Paribas acquired a new stake in Altria Group in the 1st quarter worth about $27,000. Hobbs Group Advisors LLC acquired a new stake in Altria Group in the 2nd quarter worth about $30,000. Finally, Westend Capital Management LLC acquired a new stake in Altria Group in the 1st quarter worth about $29,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Wall Street Analyst Weigh In

MO has been the topic of several research analyst reports. StockNews.com cut Altria Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Barclays lifted 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. Bank of America lifted 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. Stifel Nicolaus boosted their target price on Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, UBS Group boosted their target price on Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $50.17.

Altria Group Price Performance

MO traded up $0.16 during trading hours on Friday, reaching $49.84. The company’s stock had a trading volume of 4,542,807 shares, compared to its average volume of 10,065,752. Altria Group, Inc. has a fifty-two week low of $39.06 and a fifty-two week high of $54.95. The stock has a market cap of $85.61 billion, a PE ratio of 10.43, a P/E/G ratio of 2.90 and a beta of 0.65. The business’s 50-day moving average is $51.55 and its 200-day moving average is $47.56.

Altria Group (NYSE:MO) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.31 EPS 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 analyst estimates of $5.39 billion. Altria Group had a net margin of 42.25% and a negative return on equity of 232.55%. The company’s revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.31 earnings per share. Analysts expect that Altria Group, Inc. will post 5.11 EPS for the current year.

Altria Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Monday, September 16th were given a dividend of $1.02 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 8.19%. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s dividend payout ratio is currently 85.36%.

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.