Strategy Asset Managers LLC Invests $2.80 Million in Altria Group, Inc. (NYSE:MO)

Strategy Asset Managers LLC purchased a new stake in shares of Altria Group, Inc. (NYSE:MO - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 54,888 shares of the company's stock, valued at approximately $2,802,000.

Several other large investors have also made changes to their positions in MO. MFA Wealth Advisors LLC bought a new position in Altria Group during the second quarter valued at about $27,000. Hobbs Group Advisors LLC acquired a new position in shares of Altria Group in the second quarter valued at $30,000. Valley Wealth Managers Inc. lifted its position in Altria Group by 63.9% in the second quarter. Valley Wealth Managers Inc. now owns 667 shares of the company's stock worth $30,000 after purchasing an additional 260 shares during the period. Peterson Financial Group Inc. acquired a new stake in Altria Group during the third quarter worth $41,000. Finally, Lynx Investment Advisory bought a new stake in Altria Group in the 2nd quarter valued at $44,000. Institutional investors own 57.41% of the company's stock.

Altria Group Price Performance

Shares of MO traded down $0.14 during midday trading on Wednesday, hitting $55.72. The stock had a trading volume of 1,951,002 shares, compared to its average volume of 9,727,024. The firm has a market cap of $94.43 billion, a price-to-earnings ratio of 9.44, a price-to-earnings-growth ratio of 3.18 and a beta of 0.64. The company has a 50 day simple moving average of $51.67 and a two-hundred day simple moving average of $49.47. Altria Group, Inc. has a twelve month low of $39.25 and a twelve month high of $56.55.

Altria Group (NYSE:MO - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.38 EPS 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 net margin of 42.82% and a negative return on equity of 233.80%. The firm's revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.28 earnings per share. Analysts forecast that Altria Group, Inc. will post 5.11 EPS for the current fiscal year.

Altria Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 16th were given a dividend of $1.02 per share. This is a positive change from Altria Group's previous quarterly dividend of $0.98. The ex-dividend date was Monday, September 16th. This represents a $4.08 annualized dividend and a dividend yield of 7.32%. Altria Group's payout ratio is 68.92%.

Analyst Ratings Changes

MO has been the subject of several analyst reports. Stifel Nicolaus raised their target price on Altria Group from $54.00 to $60.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Barclays boosted their price objective on shares of Altria Group from $45.00 to $46.00 and gave the stock an "underweight" rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Altria Group from $52.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Bank of America lowered their price target 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. Finally, StockNews.com upgraded shares of Altria Group from a "hold" rating to a "buy" rating in a report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $51.33.

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.