Altria Group, Inc. (NYSE:MO) Stock Position Lifted by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC grew its position in Altria Group, Inc. (NYSE:MO) by 1.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,841 shares of the company’s stock after acquiring an additional 272 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Altria Group were worth $860,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in MO. Delta Investment Management LLC grew its position in Altria Group by 2.9% during the second quarter. Delta Investment Management LLC now owns 7,064 shares of the company’s stock worth $322,000 after buying an additional 198 shares in the last quarter. Scarborough Advisors LLC lifted its position in Altria Group by 18.5% in the second quarter. Scarborough Advisors LLC now owns 1,283 shares of the company’s stock worth $58,000 after purchasing an additional 200 shares during the period. American Institute for Advanced Investment Management LLP boosted its stake in Altria Group by 3.5% during the third quarter. American Institute for Advanced Investment Management LLP now owns 5,860 shares of the company’s stock worth $299,000 after buying an additional 200 shares in the last quarter. Zhang Financial LLC increased its holdings in Altria Group by 1.1% in the 3rd quarter. Zhang Financial LLC now owns 18,454 shares of the company’s stock valued at $942,000 after buying an additional 202 shares during the period. Finally, Hollencrest Capital Management raised its stake in shares of Altria Group by 0.3% in the 2nd quarter. Hollencrest Capital Management now owns 76,595 shares of the company’s stock valued at $3,489,000 after buying an additional 203 shares in the last quarter. 57.41% of the stock is owned by institutional investors and hedge funds.

Altria Group Trading Up 0.2 %

MO stock opened at $54.28 on Thursday. Altria Group, Inc. has a 1-year low of $39.25 and a 1-year high of $55.05. The business’s 50-day moving average price is $51.49 and its two-hundred day moving average price is $48.70. The firm has a market cap of $91.99 billion, a PE ratio of 9.17, a P/E/G ratio of 3.06 and a beta of 0.64.

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 analyst estimates of $5.33 billion. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. The firm’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period last year, the business posted $1.28 earnings per share. On average, analysts forecast that Altria Group, Inc. will post 5.11 earnings per share for the current year.

Altria Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 16th were paid a $1.02 dividend. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a yield of 7.52%. The ex-dividend date of this dividend was Monday, September 16th. Altria Group’s payout ratio is presently 68.92%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Barclays lifted their target price on shares of Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research report on Wednesday. UBS Group upped their price objective on Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a research note on Monday, September 9th. Stifel Nicolaus boosted their price target on Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Citigroup boosted their target price on shares of 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, three have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $51.33.

Altria Group 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.