Altria Group, Inc. (NYSE:MO) Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lifted its stake in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 4.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 451,816 shares of the company's stock after buying an additional 19,673 shares during the period. Thrivent Financial for Lutherans' holdings in Altria Group were worth $23,060,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of MO. MFA Wealth Advisors LLC purchased a new stake in shares of Altria Group during the second quarter valued at approximately $27,000. Hobbs Group Advisors LLC purchased a new position in Altria Group in the second quarter valued at approximately $30,000. Valley Wealth Managers Inc. grew its holdings in Altria Group by 63.9% during the second quarter. Valley Wealth Managers Inc. now owns 667 shares of the company's stock valued at $30,000 after purchasing an additional 260 shares during the period. Peterson Financial Group Inc. purchased a new stake in Altria Group in the 3rd quarter worth about $41,000. Finally, Lynx Investment Advisory bought a new stake in Altria Group in the 2nd quarter valued at about $44,000. Institutional investors own 57.41% of the company's stock.

Altria Group Trading Up 0.2 %

Shares of MO stock traded up $0.12 on Wednesday, reaching $55.98. 5,712,029 shares of the company's stock were exchanged, compared to its average volume of 9,733,545. The company's fifty day simple moving average is $51.67 and its 200 day simple moving average is $49.47. The stock has a market capitalization of $94.88 billion, a PE ratio of 9.44, a P/E/G ratio of 3.18 and a beta of 0.64. Altria Group, Inc. has a 52 week low of $39.25 and a 52 week high of $56.55.

Altria Group (NYSE:MO - Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported $1.38 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $5.33 billion. During the same period in the previous year, the company posted $1.28 EPS. Altria Group's revenue was up 18.6% on a year-over-year basis. As a group, sell-side analysts predict that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal 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 dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 7.29%. The ex-dividend date was Monday, September 16th. This is a boost from Altria Group's previous quarterly dividend of $0.98. Altria Group's dividend payout ratio (DPR) is 68.92%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MO. Stifel Nicolaus lifted their price target on Altria Group from $54.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, November 1st. StockNews.com upgraded Altria Group from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. Bank of America dropped their price objective on Altria Group from $57.00 to $53.00 and set a "neutral" rating for the company in a report on Tuesday, October 15th. Citigroup boosted their target price on shares of Altria Group from $44.50 to $48.00 and gave the company a "neutral" rating in a report on Tuesday, October 8th. Finally, Barclays upped their price objective on Altria Group from $45.00 to $46.00 and gave the company an "underweight" rating in a research report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price 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.