Altria Group, Inc. (NYSE:MO) Shares Acquired by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC increased its position in shares of Altria Group, Inc. (NYSE:MO) by 8.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,656 shares of the company’s stock after acquiring an additional 543 shares during the period. Resonant Capital Advisors LLC’s holdings in Altria Group were worth $347,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MO. Delta Investment Management LLC raised its holdings in shares of Altria Group by 2.9% in the 2nd quarter. Delta Investment Management LLC now owns 7,064 shares of the company’s stock worth $322,000 after purchasing an additional 198 shares in the last quarter. Scarborough Advisors LLC increased its holdings in shares of 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 in the last quarter. Zhang Financial LLC lifted 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 valued at $942,000 after acquiring an additional 202 shares during the last quarter. Hollencrest Capital Management boosted its stake in shares of Altria Group by 0.3% during the 2nd quarter. Hollencrest Capital Management now owns 76,595 shares of the company’s stock worth $3,489,000 after acquiring an additional 203 shares in the last quarter. Finally, SP Asset Management LLC grew its holdings in shares of Altria Group by 2.5% in the 2nd quarter. SP Asset Management LLC now owns 8,211 shares of the company’s stock worth $374,000 after acquiring an additional 204 shares during the last quarter. 57.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MO has been the subject of several analyst reports. Barclays upped their target price on Altria Group from $43.00 to $45.00 and gave the company an “underweight” rating in a report on Monday, September 9th. UBS Group raised their target price on shares of Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a report on Monday, September 9th. Bank of America cut their price target on shares of Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Citigroup increased their target price on Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Finally, Stifel Nicolaus upped their target price on Altria Group from $50.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $48.20.

Altria Group Trading Down 0.3 %

MO opened at $49.61 on Monday. The stock has a market capitalization of $85.21 billion, a P/E ratio of 10.38, a P/E/G ratio of 2.90 and a beta of 0.65. The firm’s fifty day simple moving average is $51.54 and its 200 day simple moving average is $47.83. Altria Group, Inc. has a 12 month low of $39.06 and a 12 month high of $54.95.

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

Altria Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Monday, September 16th were given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 8.22%. The ex-dividend date of this dividend was Monday, September 16th. This is an increase from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s dividend payout ratio (DPR) is 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.