Platform Technology Partners Sells 500 Shares of Altria Group, Inc. (NYSE:MO)

Platform Technology Partners lowered its stake in shares of Altria Group, Inc. (NYSE:MO) by 6.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,641 shares of the company’s stock after selling 500 shares during the quarter. Platform Technology Partners’ holdings in Altria Group were worth $390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rakuten Securities Inc. lifted its position in shares of Altria Group by 11.4% during the third quarter. Rakuten Securities Inc. now owns 4,618 shares of the company’s stock valued at $236,000 after buying an additional 471 shares during the last quarter. WealthPlan Investment Management LLC lifted its position in Altria Group by 3.9% during the third quarter. WealthPlan Investment Management LLC now owns 6,922 shares of the company’s stock valued at $353,000 after acquiring an additional 261 shares during the last quarter. First National Trust Co lifted its position in Altria Group by 0.9% during the third quarter. First National Trust Co now owns 130,923 shares of the company’s stock valued at $6,682,000 after acquiring an additional 1,208 shares during the last quarter. GSA Capital Partners LLP boosted its stake in Altria Group by 28.0% in the third quarter. GSA Capital Partners LLP now owns 26,123 shares of the company’s stock valued at $1,333,000 after acquiring an additional 5,719 shares in the last quarter. Finally, Harbour Investments Inc. grew its holdings in Altria Group by 2.5% in the third quarter. Harbour Investments Inc. now owns 49,428 shares of the company’s stock worth $2,523,000 after purchasing an additional 1,184 shares during the last quarter. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Stock Down 0.2 %

Altria Group stock opened at $53.94 on Tuesday. The business’s 50-day moving average price is $51.50 and its 200 day moving average price is $48.97. The firm has a market cap of $91.42 billion, a price-to-earnings ratio of 9.11, a price-to-earnings-growth ratio of 3.07 and a beta of 0.64. Altria Group, Inc. has a 52 week low of $39.25 and a 52 week high of $55.05.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.03. The business had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $5.33 billion. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. The business’s revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the company earned $1.28 EPS. Equities analysts expect that Altria Group, Inc. will post 5.11 EPS for the current year.

Altria Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 16th were issued a $1.02 dividend. This is a boost from Altria Group’s previous quarterly dividend of $0.98. The ex-dividend date was Monday, September 16th. This represents a $4.08 dividend on an annualized basis and a yield of 7.56%. Altria Group’s payout ratio is presently 68.92%.

Analyst Ratings Changes

MO has been the subject of a number of recent analyst reports. Citigroup raised their price objective on Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Barclays raised their price objective on Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 6th. Bank of America dropped their target price on Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Finally, Stifel Nicolaus raised their price target on shares of Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $51.33.

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.