Axxcess Wealth Management LLC Has $2.69 Million Stock Holdings in Altria Group, Inc. (NYSE:MO)

Axxcess Wealth Management LLC reduced its position in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 16.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,701 shares of the company's stock after selling 10,309 shares during the period. Axxcess Wealth Management LLC's holdings in Altria Group were worth $2,690,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Ted Buchan & Co grew its position in shares of Altria Group by 4.2% during the 3rd quarter. Ted Buchan & Co now owns 12,202 shares of the company's stock worth $623,000 after purchasing an additional 492 shares in the last quarter. RKL Wealth Management LLC bought a new stake in shares of Altria Group in the third quarter valued at approximately $205,000. Atria Investments Inc grew its position in Altria Group by 19.2% during the third quarter. Atria Investments Inc now owns 111,281 shares of the company's stock worth $5,680,000 after buying an additional 17,887 shares in the last quarter. Resolute Advisors LLC increased its stake in Altria Group by 2.2% during the 3rd quarter. Resolute Advisors LLC now owns 11,772 shares of the company's stock worth $613,000 after acquiring an additional 250 shares during the period. Finally, Assetmark Inc. lifted its position in shares of Altria Group by 3.8% during the 3rd quarter. Assetmark Inc. now owns 2,154,251 shares of the company's stock valued at $109,953,000 after acquiring an additional 78,002 shares during the period. 57.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MO. Barclays raised their price target on Altria Group from $45.00 to $46.00 and gave the stock an "underweight" rating in a research report on Wednesday, November 6th. Bank of America dropped their target price 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. Deutsche Bank Aktiengesellschaft increased their price target on shares of Altria Group from $52.00 to $60.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. UBS Group boosted their price objective on shares of Altria Group from $39.00 to $41.00 and gave the company a "sell" rating in a research report on Monday, September 9th. Finally, Citigroup raised 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. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $51.33.

Altria Group Stock Down 0.2 %

Shares of NYSE MO traded down $0.11 during midday trading on Monday, reaching $53.94. 5,608,882 shares of the company were exchanged, compared to its average volume of 9,819,452. The stock's 50-day moving average price is $51.50 and its 200-day moving average price is $48.90. The stock has a market cap of $91.42 billion, a P/E ratio of 9.20, a PEG ratio of 3.07 and a beta of 0.64. Altria Group, Inc. has a one year low of $39.25 and a one year high of $55.05.

Altria Group (NYSE:MO - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.33 billion. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. Altria Group's quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 EPS. On average, equities research analysts anticipate that Altria Group, Inc. will post 5.11 EPS for the current year.

Altria Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 16th were issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 7.56%. The ex-dividend date was Monday, September 16th. This is a positive change from Altria Group's previous quarterly dividend of $0.98. Altria Group's dividend payout ratio (DPR) is 68.92%.

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.