Altria Group, Inc. (NYSE:MO) Shares Purchased by Angeles Wealth Management LLC

Angeles Wealth Management LLC increased its holdings in shares of Altria Group, Inc. (NYSE:MO) by 4.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,975 shares of the company’s stock after acquiring an additional 342 shares during the quarter. Angeles Wealth Management LLC’s holdings in Altria Group were worth $363,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Maryland Capital Advisors Inc. raised its stake in Altria Group by 154.4% during the first quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock worth $25,000 after acquiring an additional 349 shares during the period. BNP Paribas acquired a new stake in shares of Altria Group in the first quarter valued at approximately $27,000. MFA Wealth Advisors LLC acquired a new stake in shares of Altria Group in the second quarter valued at approximately $27,000. Pineridge Advisors LLC acquired a new stake in shares of Altria Group in the fourth quarter valued at approximately $28,000. Finally, Westend Capital Management LLC acquired a new stake in shares of Altria Group in the first quarter valued at approximately $29,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Wall Street Analysts Forecast Growth

MO has been the topic of several analyst reports. UBS Group raised their price target on shares of Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a research note on Monday. Bank of America raised their price target on shares of Altria Group from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Stifel Nicolaus increased their price objective on shares of Altria Group from $50.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Argus upgraded shares of Altria Group to a “hold” rating in a report on Friday, May 31st. Finally, Barclays increased their price objective on shares of Altria Group from $43.00 to $45.00 and gave the company an “underweight” rating in a report on Monday. Two equities research 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. Based on data from MarketBeat, Altria Group presently has an average rating of “Hold” and a consensus target price of $49.67.

Altria Group Stock Performance

Shares of NYSE:MO opened at $53.15 on Thursday. The stock has a market capitalization of $91.29 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 3.10 and a beta of 0.65. Altria Group, Inc. has a 1-year low of $39.06 and a 1-year high of $54.95. The company has a 50 day moving average price of $50.62 and a 200 day moving average price of $46.29.

Altria Group (NYSE:MO) last issued its earnings results on Wednesday, July 31st. The company reported $1.31 earnings per share 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 for the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the previous year, the business posted $1.31 earnings per share. The company’s quarterly revenue was up 14.2% on a year-over-year basis. On average, sell-side analysts expect that Altria Group, Inc. will post 5.1 EPS for the current fiscal year.

Altria Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Monday, September 16th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 7.68%. The ex-dividend date of this dividend is Monday, September 16th. This is a boost from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s payout ratio is 85.36%.

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.