Capital Advisors Inc. OK lowered its position in shares of Altria Group Inc (NYSE:MO) by 14.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,255 shares of the company’s stock after selling 1,845 shares during the quarter. Capital Advisors Inc. OK’s holdings in Altria Group were worth $468,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in MO. Capital World Investors increased its holdings in shares of Altria Group by 10.9% in the first quarter. Capital World Investors now owns 82,778,790 shares of the company’s stock valued at $3,201,056,000 after purchasing an additional 8,150,622 shares during the last quarter. State Street Corp grew its position in Altria Group by 5.2% in the first quarter. State Street Corp now owns 80,112,432 shares of the company’s stock worth $3,162,460,000 after acquiring an additional 3,957,880 shares during the period. Geode Capital Management LLC grew its position in Altria Group by 1.6% in the first quarter. Geode Capital Management LLC now owns 26,294,670 shares of the company’s stock worth $1,015,027,000 after acquiring an additional 411,478 shares during the period. Charles Schwab Investment Management Inc. grew its position in Altria Group by 17.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 25,782,544 shares of the company’s stock worth $1,011,965,000 after acquiring an additional 3,921,396 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Altria Group by 22.7% in the first quarter. JPMorgan Chase & Co. now owns 16,967,449 shares of the company’s stock worth $656,132,000 after acquiring an additional 3,141,027 shares during the period. 62.61% of the stock is owned by institutional investors and hedge funds.
Altria Group stock traded down $1.02 during midday trading on Wednesday, reaching $41.76. The company’s stock had a trading volume of 9,749,241 shares, compared to its average volume of 10,115,822. Altria Group Inc has a fifty-two week low of $30.95 and a fifty-two week high of $51.78. The company has a quick ratio of 0.54, a current ratio of 0.75 and a debt-to-equity ratio of 4.76. The company has a market cap of $79.50 billion, a P/E ratio of -81.90, a P/E/G ratio of 2.53 and a beta of 0.46. The business has a 50-day simple moving average of $42.92 and a 200-day simple moving average of $40.18.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.86 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 8.24%. This is a boost from Altria Group’s previous quarterly dividend of $0.84. Altria Group’s payout ratio is 81.52%.
MO has been the subject of several analyst reports. Stifel Nicolaus reiterated a “buy” rating and issued a $52.00 price objective on shares of Altria Group in a research report on Monday, June 8th. Deutsche Bank increased their price objective on Altria Group from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Piper Sandler reiterated a “buy” rating and issued a $57.00 price objective on shares of Altria Group in a research report on Tuesday, July 7th. Citigroup raised their price target on Altria Group from $45.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, ValuEngine lowered Altria Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $50.36.
Altria Group Company Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.
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