Founders Financial Alliance LLC Acquires 1,087 Shares of Altria Group, Inc. (NYSE:MO)

Founders Financial Alliance LLC grew its holdings in shares of Altria Group, Inc. (NYSE:MO) by 1.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 62,004 shares of the company’s stock after buying an additional 1,087 shares during the period. Altria Group accounts for 0.8% of Founders Financial Alliance LLC’s portfolio, making the stock its 23rd biggest position. Founders Financial Alliance LLC’s holdings in Altria Group were worth $2,824,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MO. Cetera Investment Advisers raised its position in shares of Altria Group by 1.8% in the 2nd quarter. Cetera Investment Advisers now owns 1,001,756 shares of the company’s stock worth $45,630,000 after acquiring an additional 17,471 shares in the last quarter. 3Chopt Investment Partners LLC raised its holdings in Altria Group by 1.2% in the second quarter. 3Chopt Investment Partners LLC now owns 66,371 shares of the company’s stock worth $3,089,000 after purchasing an additional 772 shares in the last quarter. Granite Bay Wealth Management LLC purchased a new position in Altria Group during the second quarter valued at $6,992,000. Ted Buchan & Co bought a new stake in shares of Altria Group during the 2nd quarter valued at $533,000. Finally, Next Capital Management LLC grew its position in shares of Altria Group by 20.7% in the 2nd quarter. Next Capital Management LLC now owns 5,700 shares of the company’s stock worth $261,000 after buying an additional 978 shares during the period. Institutional investors own 57.41% of the company’s stock.

Wall Street Analyst Weigh In

MO has been the topic of a number of analyst reports. Stifel Nicolaus boosted their price target on Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a research note on Friday, June 28th. UBS Group lifted their price target on Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a research report on Monday, September 9th. Barclays raised their price objective on shares of Altria Group from $43.00 to $45.00 and gave the company an “underweight” rating in a research note on Monday, September 9th. Finally, Bank of America upped their target price on shares of Altria Group from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Altria Group currently has a consensus rating of “Hold” and a consensus price target of $49.67.

Altria Group Trading Down 0.0 %

Shares of NYSE:MO opened at $51.04 on Tuesday. The stock has a 50 day moving average of $51.53 and a 200 day moving average of $47.20. The company has a market cap of $87.67 billion, a PE ratio of 10.68, a price-to-earnings-growth ratio of 2.95 and a beta of 0.65. Altria Group, Inc. has a 12-month low of $39.06 and a 12-month high of $54.95.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). Altria Group had a negative return on equity of 232.55% and a net margin of 42.25%. The business had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter in the previous year, the company posted $1.31 EPS. The company’s quarterly revenue was up 14.2% on a year-over-year basis. Equities research analysts predict that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Monday, September 16th will be issued a $1.02 dividend. 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 yield of 7.99%. The ex-dividend date is Monday, September 16th. Altria Group’s 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.