Commonwealth Retirement Investments LLC decreased its position in Altria Group, Inc. (NYSE:MO – Free Report) by 8.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 117,184 shares of the company’s stock after selling 11,419 shares during the period. Altria Group comprises approximately 2.4% of Commonwealth Retirement Investments LLC’s portfolio, making the stock its 11th largest position. Commonwealth Retirement Investments LLC’s holdings in Altria Group were worth $5,338,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in MO. Catalyst Financial Partners LLC boosted its stake in Altria Group by 2.0% in the second quarter. Catalyst Financial Partners LLC now owns 11,269 shares of the company’s stock valued at $513,000 after buying an additional 217 shares in the last quarter. Conning Inc. increased its position in Altria Group by 2.3% during the 2nd quarter. Conning Inc. now owns 9,794 shares of the company’s stock worth $446,000 after purchasing an additional 219 shares in the last quarter. Patten & Patten Inc. TN lifted its stake in Altria Group by 1.6% in the 1st quarter. Patten & Patten Inc. TN now owns 14,293 shares of the company’s stock valued at $623,000 after purchasing an additional 224 shares during the last quarter. Hilltop National Bank boosted its position in Altria Group by 1.6% in the second quarter. Hilltop National Bank now owns 14,667 shares of the company’s stock valued at $668,000 after buying an additional 226 shares in the last quarter. Finally, WMG Financial Advisors LLC grew its stake in shares of Altria Group by 4.1% during the second quarter. WMG Financial Advisors LLC now owns 5,784 shares of the company’s stock worth $263,000 after buying an additional 229 shares during the last quarter. Institutional investors own 57.41% of the company’s stock.
Altria Group Trading Down 1.1 %
MO opened at $53.69 on Friday. The company has a fifty day moving average price of $50.15 and a two-hundred day moving average price of $45.98. Altria Group, Inc. has a 1-year low of $39.06 and a 1-year high of $54.95. The company has a market cap of $92.22 billion, a P/E ratio of 11.23, a price-to-earnings-growth ratio of 3.13 and a beta of 0.65.
Altria Group Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Monday, September 16th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.60%. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Monday, September 16th. Altria Group’s dividend payout ratio is presently 85.36%.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the company. Bank of America increased their price target on Altria Group from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday. Argus raised Altria Group to a “hold” rating in a research note on Friday, May 31st. Barclays upped their price objective on Altria Group from $37.00 to $43.00 and gave the company an “underweight” rating in a research note on Wednesday, August 14th. Stifel Nicolaus boosted their price target on shares of Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a research report on Friday, June 28th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $48.58.
View Our Latest Research Report on Altria Group
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.
Further Reading
- Five stocks we like better than Altria Group
- Earnings Per Share Calculator: How to Calculate EPS
- Is Merck Stock Undervalued After Its Colossal Earnings Growth?
- Best Stocks Under $5.00
- Top 5 ETFs for Every Investor: From Semiconductors to Defense
- 3 Warren Buffett Stocks to Buy Now
- Blade Air Mobility: This Under-the-Radar Stock Could Double Soon
Want to see what other hedge funds are holding MO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altria Group, Inc. (NYSE:MO – Free Report).
Receive News & Ratings for Altria Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altria Group and related companies with MarketBeat.com's FREE daily email newsletter.