Chicago Partners Investment Group LLC Has $702,000 Position in Altria Group, Inc. (NYSE:MO)

Chicago Partners Investment Group LLC boosted its stake in shares of Altria Group, Inc. (NYSE:MO) by 21.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,090 shares of the company’s stock after buying an additional 2,485 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Altria Group were worth $702,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MO. MFA Wealth Advisors LLC acquired a new position in Altria Group during the 2nd quarter worth about $27,000. Hobbs Group Advisors LLC acquired a new position in shares of Altria Group in the 2nd quarter valued at about $30,000. Valley Wealth Managers Inc. lifted its stake in shares of Altria Group by 63.9% in the 2nd quarter. Valley Wealth Managers Inc. now owns 667 shares of the company’s stock valued at $30,000 after purchasing an additional 260 shares during the period. Lynx Investment Advisory acquired a new position in shares of Altria Group in the 2nd quarter valued at about $44,000. Finally, Covestor Ltd lifted its stake in shares of Altria Group by 33.4% in the 1st quarter. Covestor Ltd now owns 1,047 shares of the company’s stock valued at $46,000 after purchasing an additional 262 shares during the period. 57.41% of the stock is owned by institutional investors and hedge funds.

Altria Group Trading Up 0.0 %

MO opened at $53.88 on Tuesday. The company’s fifty day moving average price is $51.44 and its two-hundred day moving average price is $48.57. Altria Group, Inc. has a 1-year low of $39.25 and a 1-year high of $54.95. The company has a market cap of $91.93 billion, a price-to-earnings ratio of 9.10, a PEG ratio of 3.14 and a beta of 0.64.

Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.03. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. The firm had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $5.33 billion. During the same quarter in the prior year, the company posted $1.28 earnings per share. The business’s revenue was up 18.6% on a year-over-year basis. As a group, equities analysts forecast that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Stockholders 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. The ex-dividend date was Monday, September 16th. This represents a $4.08 annualized dividend and a dividend yield of 7.57%. Altria Group’s dividend payout ratio is presently 68.92%.

Wall Street Analysts Forecast Growth

MO has been the topic of a number of recent analyst reports. 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 research note on Friday. Stifel Nicolaus boosted their price objective on Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Friday. Bank of America dropped their price target on Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. UBS Group increased their price target on Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a report on Monday, September 9th. Finally, StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a research report on Monday. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $51.17.

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.