Perennial Investment Advisors LLC Purchases 1,027 Shares of Altria Group, Inc. (NYSE:MO)

Perennial Investment Advisors LLC increased its position in shares of Altria Group, Inc. (NYSE:MO) by 22.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,650 shares of the company’s stock after purchasing an additional 1,027 shares during the period. Perennial Investment Advisors LLC’s holdings in Altria Group were worth $257,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Maryland Capital Advisors Inc. raised its holdings in 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 acquiring an additional 349 shares during the period. BNP Paribas purchased a new stake in shares of Altria Group during the first quarter worth about $27,000. MFA Wealth Advisors LLC bought a new stake in Altria Group during the 2nd quarter valued at approximately $27,000. Pineridge Advisors LLC purchased a new position in Altria Group in the 4th quarter worth approximately $28,000. Finally, Westend Capital Management LLC bought a new position in Altria Group in the 1st quarter worth approximately $29,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Analyst Ratings Changes

MO has been the topic of several recent analyst reports. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a research report on Friday, June 28th. UBS Group boosted their price target on shares of Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a research note on Monday, September 9th. Stifel Nicolaus increased their price objective on shares of Altria Group from $50.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Argus raised Altria Group to a “hold” rating in a report on Friday, May 31st. Finally, Barclays increased their price target on Altria Group from $43.00 to $45.00 and gave the company an “underweight” rating in a research note on Monday, September 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $49.67.

Altria Group Trading Down 2.3 %

Shares of NYSE MO opened at $50.50 on Wednesday. Altria Group, Inc. has a 12-month low of $39.06 and a 12-month high of $54.95. The firm’s 50-day moving average price is $51.08 and its 200-day moving average price is $46.64. The stock has a market capitalization of $86.74 billion, a price-to-earnings ratio of 10.56, a P/E/G ratio of 3.07 and a beta of 0.65.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). The company 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 company’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter last year, the company earned $1.31 earnings per share. On average, equities analysts predict that Altria Group, Inc. will post 5.11 EPS for the current fiscal year.

Altria Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Monday, September 16th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 8.08%. 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 payout ratio is presently 85.36%.

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.