Concurrent Investment Advisors LLC Has $4.28 Million Stock Holdings in Altria Group, Inc. (NYSE:MO)

Concurrent Investment Advisors LLC increased its holdings in shares of Altria Group, Inc. (NYSE:MO) by 0.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 83,906 shares of the company’s stock after purchasing an additional 532 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Altria Group were worth $4,283,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Delta Investment Management LLC raised its holdings in 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 buying an additional 198 shares during the last quarter. Scarborough Advisors LLC lifted its stake 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 during the period. American Institute for Advanced Investment Management LLP boosted its holdings in shares of Altria Group by 3.5% during the 3rd 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 grew 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 worth $942,000 after buying an additional 202 shares during the period. Finally, Hollencrest Capital Management increased 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 acquiring an additional 203 shares in the last quarter. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Altria Group Trading Up 0.2 %

Shares of Altria Group stock opened at $54.28 on Thursday. The company has a market capitalization of $91.99 billion, a P/E ratio of 9.17, a price-to-earnings-growth ratio of 3.06 and a beta of 0.64. The stock has a fifty day simple moving average of $51.49 and a 200 day simple moving average of $48.70. Altria Group, Inc. has a 12-month low of $39.25 and a 12-month high of $55.05.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.03. The company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $5.33 billion. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. Altria Group’s 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 predict 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. Stockholders of record on Monday, September 16th were given a dividend of $1.02 per share. This is an increase from Altria Group’s previous quarterly dividend of $0.98. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.52%. The ex-dividend date was Monday, September 16th. Altria Group’s dividend payout ratio is currently 68.92%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MO. Bank of America decreased their price target on shares of Altria Group from $57.00 to $53.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. UBS Group upped their price target on Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a research note on Monday, September 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus lifted their price target on shares of Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Barclays upped their price objective on shares of Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $51.33.

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.