Pekin Hardy Strauss Inc. Trims Position in Altria Group, Inc. (NYSE:MO)

Pekin Hardy Strauss Inc. cut its holdings in shares of Altria Group, Inc. (NYSE:MO) by 2.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 49,624 shares of the company’s stock after selling 1,030 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Altria Group were worth $2,260,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Maryland Capital Advisors Inc. increased its stake in shares of Altria Group by 154.4% during the first quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock valued at $25,000 after buying an additional 349 shares during the period. MFA Wealth Advisors LLC bought a new stake in shares of Altria Group during the second quarter valued at approximately $27,000. BNP Paribas bought a new stake in shares of Altria Group during the first quarter valued at approximately $27,000. Hobbs Group Advisors LLC bought a new stake in shares of Altria Group during the second quarter valued at approximately $30,000. Finally, Westend Capital Management LLC bought a new stake in shares of Altria Group during the first quarter valued at approximately $29,000. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Price Performance

MO stock opened at $51.70 on Tuesday. Altria Group, Inc. has a 1-year low of $39.06 and a 1-year high of $54.95. The business has a fifty day moving average price of $51.00 and a 200-day moving average price of $46.57. The stock has a market capitalization of $88.80 billion, a P/E ratio of 10.82, a P/E/G ratio of 3.07 and a beta of 0.65.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). The firm had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $5.39 billion. Altria Group had a net margin of 42.25% and a negative return on equity of 232.55%. The firm’s revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.31 EPS. As a group, analysts anticipate that Altria Group, Inc. will post 5.11 earnings per share for the current year.

Altria Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors 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 yield of 7.89%. The ex-dividend date is Monday, September 16th. This is a boost from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s dividend payout ratio is 85.36%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MO shares. UBS Group lifted their price target on Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a research report on Monday, September 9th. Barclays boosted their target price on Altria Group from $43.00 to $45.00 and gave the stock an “underweight” rating in a report on Monday, September 9th. Stifel Nicolaus boosted their target price on Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a report on Friday, June 28th. Finally, Argus raised Altria Group to a “hold” rating in a report on Friday, May 31st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Altria Group presently has a consensus rating of “Hold” and a consensus price target of $49.67.

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.