Morningstar Investment Services LLC Buys 170,379 Shares of Altria Group Inc (NYSE:MO)

Morningstar Investment Services LLC grew its stake in shares of Altria Group Inc (NYSE:MO) by 73.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 402,028 shares of the company’s stock after buying an additional 170,379 shares during the period. Morningstar Investment Services LLC’s holdings in Altria Group were worth $15,772,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. EFG Asset Management Americas Corp. raised its position in shares of Altria Group by 25.0% during the 2nd quarter. EFG Asset Management Americas Corp. now owns 44,880 shares of the company’s stock valued at $1,762,000 after buying an additional 8,986 shares in the last quarter. Washington Trust Bank raised its position in shares of Altria Group by 14.2% during the 2nd quarter. Washington Trust Bank now owns 17,945 shares of the company’s stock valued at $705,000 after buying an additional 2,228 shares in the last quarter. Duality Advisers LP purchased a new stake in shares of Altria Group during the 2nd quarter valued at $5,056,000. Tompkins Financial Corp raised its position in Altria Group by 28.0% in the 2nd quarter. Tompkins Financial Corp now owns 2,744 shares of the company’s stock worth $108,000 after purchasing an additional 600 shares during the period. Finally, Regent Investment Management LLC raised its position in Altria Group by 5.4% in the 2nd quarter. Regent Investment Management LLC now owns 5,865 shares of the company’s stock worth $230,000 after purchasing an additional 300 shares during the period. 63.59% of the stock is owned by institutional investors.

Altria Group stock traded down $0.43 during trading hours on Friday, reaching $41.15. The stock had a trading volume of 7,567,629 shares, compared to its average volume of 6,420,735. The company has a market cap of $76.47 billion, a price-to-earnings ratio of -79.13, a PEG ratio of 1.91 and a beta of 0.43. The company has a debt-to-equity ratio of 4.76, a current ratio of 0.75 and a quick ratio of 0.53. The business’s 50 day moving average price is $40.34 and its 200-day moving average price is $41.29. Altria Group Inc has a 52 week low of $30.95 and a 52 week high of $52.45.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.03. The business had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.08 billion. Altria Group had a positive return on equity of 109.11% and a negative net margin of 3.57%. The company’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.10 earnings per share. On average, sell-side analysts forecast that Altria Group Inc will post 4.3 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Tuesday, September 15th will be given a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 8.36%. The ex-dividend date of this dividend is Monday, September 14th. This is a positive change from Altria Group’s previous quarterly dividend of $0.84. Altria Group’s dividend payout ratio is currently 79.62%.

MO has been the topic of a number of analyst reports. Barclays cut shares of Altria Group from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $50.00 to $43.00 in a research report on Wednesday, July 8th. Deutsche Bank boosted their price objective on shares of Altria Group from $50.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Stifel Nicolaus reissued a “buy” rating and set a $52.00 price objective on shares of Altria Group in a research note on Monday, June 8th. Piper Sandler reiterated a “buy” rating and issued a $57.00 target price on shares of Altria Group in a research note on Tuesday, July 7th. Finally, Citigroup upped their target price on shares of Altria Group from $45.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. Altria Group has a consensus rating of “Buy” and a consensus 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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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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