Lee Danner & Bass Inc. purchased a new stake in shares of Altria Group, Inc. (NYSE:MO - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 22,830 shares of the company's stock, valued at approximately $1,040,000.
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Several other hedge funds also recently modified their holdings of the company. Capital Research Global Investors lifted its stake in Altria Group by 1.9% during the fourth quarter. Capital Research Global Investors now owns 13,279,658 shares of the company's stock valued at $535,701,000 after purchasing an additional 242,442 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Altria Group by 120.6% during the 1st quarter. Van ECK Associates Corp now owns 8,762,047 shares of the company's stock worth $382,201,000 after acquiring an additional 4,789,788 shares in the last quarter. LSV Asset Management grew its holdings in shares of Altria Group by 15.2% in the 4th quarter. LSV Asset Management now owns 4,681,943 shares of the company's stock worth $188,870,000 after acquiring an additional 617,900 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Altria Group by 24.4% during the fourth quarter. Victory Capital Management Inc. now owns 4,674,441 shares of the company's stock worth $188,567,000 after purchasing an additional 915,478 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Altria Group by 1.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,754,522 shares of the company's stock valued at $163,772,000 after purchasing an additional 54,096 shares during the last quarter. 57.41% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have issued reports on MO shares. Bank of America boosted their target price on shares of Altria Group from $47.00 to $48.00 and gave the company a "neutral" rating in a research note on Wednesday, July 10th. Stifel Nicolaus increased their price objective on Altria Group from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. Barclays lifted their target price on Altria Group from $37.00 to $43.00 and gave the company an "underweight" rating in a research note on Wednesday, August 14th. StockNews.com raised shares of Altria Group from a "hold" rating to a "buy" rating in a research report on Friday, June 28th. Finally, Argus raised shares of Altria Group to a "hold" rating in a research 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 given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $47.08.
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Check Out Our Latest Analysis on Altria Group
Altria Group Price Performance
NYSE:MO opened at $53.77 on Friday. The stock has a market cap of $92.36 billion, a P/E ratio of 11.25, a PEG ratio of 3.07 and a beta of 0.66. The company has a fifty day moving average price of $49.19 and a 200 day moving average price of $45.40. Altria Group, Inc. has a one year low of $39.06 and a one year high of $53.82.
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Altria Group (NYSE:MO - Get Free Report) last announced 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 during the quarter, compared to the consensus estimate of $5.39 billion. Altria Group had a negative return on equity of 232.55% and a net margin of 42.25%. Altria Group's revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.31 EPS. As a group, equities research analysts anticipate that Altria Group, Inc. will post 5.11 EPS for the current year.
Altria Group Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Monday, September 16th will be issued a dividend of $1.02 per share. This is an increase from Altria Group's previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a yield of 7.59%. The ex-dividend date of this dividend is Monday, September 16th. Altria Group's dividend payout ratio (DPR) is currently 85.36%.
About Altria Group
(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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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).
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