Recent Changes by Investors
Several investors recently changed their stakes in Altria Group. Albion Financial Group increased its shares by 49.1%, owning 2,767 shares valued at $121,000. Nordea Investment Management grew its holdings by 1.6% to 1,027,886 shares worth $44.96 million. Regal Investment Advisors upped their position by 4.2%, owning 251,933 shares valued at $11.48 million. Atomi Financial raised its stake by 7.2%, now holding 5,953 shares worth $260,000. Additionally, &PARTNERS bought a new position worth about $556,000. Overall, institutional and hedge fund investors own 57.41% of Altria Group.
Altria Group Stock Performance
Altria Group’s shares (MO) opened at $49.98 on Friday, with a market cap of $85.85 billion. The stock has a PE ratio of 10.46, a 12-month low of $39.06, and a high of $54.95. It has 50-day and 200-day moving averages of $51.59 and $47.29, respectively.
Quarterly Earnings Report
On July 31, Altria reported an EPS of $1.31, missing the $1.35 estimate, but revenue was $6.21 billion, exceeding the $5.39 billion forecast. The companys revenue was up 14.2% year-over-year. Analysts predict an EPS of 5.11 for the current fiscal year.
Dividend Increase
Altria announced a quarterly dividend of $1.02, payable on October 10, 2023, to shareholders recorded by September 16. This increases the annualized dividend to $4.08, yielding 8.16%, up from $0.98 previously. The current dividend payout ratio is 85.36%.
Analyst Ratings
Analysts have varied opinions on Altria shares. Barclays raised its price target to $45 but rated it “underweight.” StockNews.com upgraded it from “hold” to “buy.” Bank of America increased its target to $57 with a “neutral” rating, while UBS set a target of $41 with a “sell” rating. Stifel Nicolaus also raised its target to $54 and rated it “buy.” Overall, analysts generally rate the stock as “Hold” with an average price target of $49.67.
About Altria Group
Altria Group, Inc. manufactures and sells tobacco products in the U.S., including Marlboro cigarettes, Black & Mild cigars, and various smokeless tobacco brands.
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