Altria Group, Inc. (NYSE:MO) Stake Lowered by MAI Capital Management

MAI Capital Management trimmed its stake in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 34.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 93,504 shares of the company's stock after selling 48,148 shares during the quarter. MAI Capital Management's holdings in Altria Group were worth $4,772,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. MFA Wealth Advisors LLC purchased a new position in Altria Group in the 2nd quarter valued at approximately $27,000. Hobbs Group Advisors LLC purchased a new position in Altria Group in the 2nd quarter valued at approximately $30,000. Valley Wealth Managers Inc. increased its stake in Altria Group by 63.9% in the 2nd quarter. Valley Wealth Managers Inc. now owns 667 shares of the company's stock valued at $30,000 after purchasing an additional 260 shares in the last quarter. Peterson Financial Group Inc. purchased a new position in Altria Group in the 3rd quarter valued at approximately $41,000. Finally, Lynx Investment Advisory purchased a new position in Altria Group during the second quarter worth $44,000. 57.41% of the stock is owned by institutional investors and hedge funds.

Altria Group Stock Performance

Shares of NYSE MO traded up $0.12 during midday trading on Wednesday, reaching $55.98. 5,715,274 shares of the company's stock were exchanged, compared to its average volume of 9,743,754. Altria Group, Inc. has a 52-week low of $39.25 and a 52-week high of $56.55. The stock has a market capitalization of $94.88 billion, a PE ratio of 9.44, a price-to-earnings-growth ratio of 3.18 and a beta of 0.64. The business's fifty day moving average price is $51.67 and its two-hundred day moving average price is $49.47.

Altria Group (NYSE:MO - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $1.38 earnings per share (EPS) 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 business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.33 billion. During the same period in the previous year, the company earned $1.28 earnings per share. The company's revenue for the quarter was up 18.6% compared to the same quarter last year. Analysts predict that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The company 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 is a positive change from Altria Group's previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a yield of 7.29%. The ex-dividend date was Monday, September 16th. Altria Group's payout ratio is currently 68.92%.

Wall Street Analyst Weigh In

MO has been the topic of several analyst reports. StockNews.com upgraded Altria Group from a "hold" rating to a "buy" rating in a report on Monday, November 4th. UBS Group lifted their target price on Altria Group from $39.00 to $41.00 and gave the company a "sell" rating in a report on Monday, September 9th. Citigroup lifted 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. Barclays lifted their target price on Altria Group from $45.00 to $46.00 and gave the company an "underweight" rating in a report on Wednesday, November 6th. Finally, Bank of America reduced their target price on Altria Group from $57.00 to $53.00 and set a "neutral" rating on the stock in a report on Tuesday, October 15th. Two 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 data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $51.33.

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.