Arkadios Wealth Advisors grew its stake in shares of Altria Group, Inc. (NYSE:MO – Free Report) by 3.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,176 shares of the company’s stock after acquiring an additional 2,565 shares during the quarter. Arkadios Wealth Advisors’ holdings in Altria Group were worth $4,194,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. BNP Paribas purchased a new position in shares of Altria Group in the first quarter worth about $27,000. MFA Wealth Advisors LLC purchased a new position in shares of Altria Group during the second quarter worth $27,000. Hobbs Group Advisors LLC acquired a new position in Altria Group during the second quarter valued at $30,000. Valley Wealth Managers Inc. boosted its holdings in Altria Group by 63.9% in the second 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 last quarter. Finally, Lynx Investment Advisory acquired a new stake in Altria Group during the 2nd quarter worth about $44,000. 57.41% of the stock is owned by hedge funds and other institutional investors.
Altria Group Stock Down 0.5 %
Shares of Altria Group stock traded down $0.23 during trading hours on Friday, reaching $49.71. 5,325,545 shares of the company’s stock were exchanged, compared to its average volume of 9,847,107. The business has a fifty day moving average of $51.42 and a two-hundred day moving average of $48.02. The company has a market capitalization of $84.82 billion, a P/E ratio of 8.57, a price-to-earnings-growth ratio of 2.89 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.
Altria Group Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 16th were given a dividend of $1.02 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 8.21%. This is a boost from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s dividend payout ratio (DPR) is presently 70.34%.
Analyst Ratings Changes
Several equities research analysts have commented on the company. Stifel Nicolaus upped their price objective on Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Citigroup upped their price target on Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. StockNews.com lowered Altria Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Barclays increased their target price on Altria Group from $43.00 to $45.00 and gave the company an “underweight” rating in a research report on Monday, September 9th. Finally, Bank of America reduced their price objective on shares of Altria Group from $57.00 to $53.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $48.20.
View Our Latest Analysis on MO
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.
Featured Articles
- Five stocks we like better than Altria Group
- Ride Out The Recession With These Dividend Kings
- Lam Research Proves Analysts Wrong with a Strong Earnings Report
- Best Stocks Under $10.00
- PureCycle: Up 250% in 2024 – Is This Materials Stock Still a Buy?
- What Do S&P 500 Stocks Tell Investors About the Market?
- MarketBeat Week in Review – 10/21- 10/25
Receive News & Ratings for Altria Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altria Group and related companies with MarketBeat.com's FREE daily email newsletter.