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Pathway Financial Advisers LLC Acquires 63,628 Shares of Altria Group, Inc. (NYSE:MO)

Altria Group logo with Consumer Staples background

Pathway Financial Advisers LLC grew its position in Altria Group, Inc. (NYSE:MO - Free Report) by 3,341.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,532 shares of the company's stock after purchasing an additional 63,628 shares during the quarter. Pathway Financial Advisers LLC's holdings in Altria Group were worth $3,345,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Delta Investment Management LLC boosted its position in Altria Group by 2.9% during the second quarter. Delta Investment Management LLC now owns 7,064 shares of the company's stock valued at $322,000 after purchasing an additional 198 shares during the last quarter. Scarborough Advisors LLC grew its position in shares of Altria Group by 18.5% in the second quarter. Scarborough Advisors LLC now owns 1,283 shares of the company's stock valued at $58,000 after purchasing an additional 200 shares during the last quarter. American Institute for Advanced Investment Management LLP lifted its holdings in Altria Group by 3.5% during the 3rd quarter. American Institute for Advanced Investment Management LLP now owns 5,860 shares of the company's stock worth $299,000 after purchasing an additional 200 shares during the last quarter. Zhang Financial LLC boosted its stake in Altria Group by 1.1% in the 3rd quarter. Zhang Financial LLC now owns 18,454 shares of the company's stock valued at $942,000 after purchasing an additional 202 shares during the period. Finally, Hollencrest Capital Management grew its holdings in Altria Group by 0.3% in the 2nd quarter. Hollencrest Capital Management now owns 76,595 shares of the company's stock valued at $3,489,000 after buying an additional 203 shares in the last quarter. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Altria Group Price Performance

NYSE:MO traded down $0.23 during mid-day trading on Friday, reaching $49.71. The stock had a trading volume of 5,325,545 shares, compared to its average volume of 9,847,107. Altria Group, Inc. has a 12 month low of $39.06 and a 12 month high of $54.95. The stock has a market capitalization of $84.82 billion, a PE ratio of 8.57, a P/E/G ratio of 2.89 and a beta of 0.65. The stock has a 50-day simple moving average of $51.42 and a two-hundred day simple moving average of $48.02.

Altria Group (NYSE:MO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.04). The business had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $5.39 billion. Altria Group had a net margin of 42.25% and a negative return on equity of 232.55%. The company's revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.31 EPS. Equities analysts expect that Altria Group, Inc. will post 5.11 EPS for the current year.

Altria Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 16th were given a $1.02 dividend. The ex-dividend date was Monday, September 16th. This represents a $4.08 dividend on an annualized basis and a yield of 8.21%. This is a positive change from Altria Group's previous quarterly dividend of $0.98. Altria Group's dividend payout ratio (DPR) is currently 70.34%.

Analysts Set New Price Targets

MO has been the subject of a number of research reports. Bank of America dropped their target price on Altria Group from $57.00 to $53.00 and set a "neutral" rating for the company in a report on Tuesday, October 15th. Stifel Nicolaus boosted their price objective on shares of Altria Group from $50.00 to $54.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Citigroup raised their target price on shares of Altria Group from $44.50 to $48.00 and gave the stock a "neutral" rating in a report on Tuesday, October 8th. StockNews.com cut Altria Group from a "buy" rating to a "hold" rating in a research note on Tuesday, October 8th. Finally, Barclays raised their price objective on Altria Group from $43.00 to $45.00 and gave the stock an "underweight" rating in a research note on Monday, September 9th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, Altria Group presently has a consensus rating of "Hold" and an average target price of $48.20.

Get Our Latest Stock Analysis on Altria Group

Altria Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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