Main Street Financial Solutions LLC Has $564,000 Stock Position in Altria Group, Inc. (NYSE:MO)

Main Street Financial Solutions LLC lessened its position in Altria Group, Inc. (NYSE:MO) by 3.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,059 shares of the company’s stock after selling 420 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Altria Group were worth $564,000 at the end of the most recent quarter.

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

Altria Group Stock Up 0.3 %

Shares of Altria Group stock opened at $55.40 on Friday. The business’s 50 day moving average is $51.52 and its 200-day moving average is $49.09. The stock has a market cap of $93.89 billion, a P/E ratio of 9.36, a P/E/G ratio of 3.14 and a beta of 0.64. Altria Group, Inc. has a 12-month low of $39.25 and a 12-month high of $55.62.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.03. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. 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 previous year, the business earned $1.28 earnings per share. The business’s revenue was up 18.6% compared to the same quarter last year. On average, sell-side analysts expect that Altria Group, Inc. will post 5.11 EPS for the current year.

Altria Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 16th were issued a $1.02 dividend. This is an increase from Altria Group’s previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a dividend yield of 7.36%. The ex-dividend date of this dividend was Monday, September 16th. Altria Group’s payout ratio is currently 68.92%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Barclays lifted their target price on shares of Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Bank of America reduced their target price on shares of Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. UBS Group boosted their price objective on shares of Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a research report on Monday, September 9th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $51.33.

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.