Mayflower Financial Advisors LLC Acquires 2,941 Shares of Altria Group, Inc. (NYSE:MO)

Mayflower Financial Advisors LLC raised its stake in Altria Group, Inc. (NYSE:MOGet Rating) by 1.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 234,175 shares of the company’s stock after purchasing an additional 2,941 shares during the period. Altria Group accounts for approximately 1.5% of Mayflower Financial Advisors LLC’s investment portfolio, making the stock its 16th biggest position. Mayflower Financial Advisors LLC’s holdings in Altria Group were worth $9,781,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Pinnacle Private Wealth LLC lifted its position in shares of Altria Group by 2.4% during the 2nd quarter. Pinnacle Private Wealth LLC now owns 11,855 shares of the company’s stock valued at $495,000 after acquiring an additional 275 shares during the period. Investmark Advisory Group LLC raised its holdings in shares of Altria Group by 3.4% during the 2nd quarter. Investmark Advisory Group LLC now owns 49,974 shares of the company’s stock worth $2,087,000 after buying an additional 1,644 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its position in shares of Altria Group by 39.5% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 14,195 shares of the company’s stock worth $593,000 after buying an additional 4,019 shares during the last quarter. Joel Isaacson & Co. LLC boosted its stake in Altria Group by 3.3% in the second quarter. Joel Isaacson & Co. LLC now owns 11,199 shares of the company’s stock valued at $468,000 after buying an additional 355 shares in the last quarter. Finally, HB Wealth Management LLC raised its stake in Altria Group by 24.6% during the second quarter. HB Wealth Management LLC now owns 37,654 shares of the company’s stock worth $1,573,000 after acquiring an additional 7,437 shares in the last quarter. 59.75% of the stock is owned by institutional investors.

Altria Group Stock Down 3.7 %

NYSE:MO traded down $1.59 on Friday, hitting $41.68. The stock had a trading volume of 12,876,738 shares, compared to its average volume of 10,087,604. Altria Group, Inc. has a 52 week low of $40.84 and a 52 week high of $57.05. The business’s fifty day moving average is $44.27 and its 200 day moving average is $48.49. The company has a market cap of $75.06 billion, a PE ratio of 44.61, a P/E/G ratio of 1.36 and a beta of 0.59.

Altria Group (NYSE:MOGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.01. Altria Group had a net margin of 6.88% and a negative return on equity of 488.86%. The business had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.42 billion. During the same quarter last year, the firm posted $1.23 EPS. Altria Group’s revenue was down 4.3% compared to the same quarter last year. Equities analysts predict that Altria Group, Inc. will post 4.85 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 11th. Investors of record on Thursday, September 15th will be given a $0.94 dividend. This is a boost from Altria Group’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $3.76 annualized dividend and a yield of 9.02%. Altria Group’s dividend payout ratio (DPR) is presently 387.63%.

Analysts Set New Price Targets

A number of analysts have weighed in on MO shares. Barclays cut shares of Altria Group from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $53.00 to $36.00 in a research note on Wednesday, June 29th. Deutsche Bank Aktiengesellschaft dropped their target price on Altria Group from $60.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, July 1st. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a research note on Monday. Cowen reduced their price objective on shares of Altria Group from $56.00 to $45.00 and set a “market perform” rating on the stock in a research note on Monday, June 27th. Finally, Cowen reduced their price target on Altria Group from $56.00 to $45.00 and set a “market perform” rating on the stock in a research report on Monday, June 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $47.00.

About Altria Group

(Get Rating)

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company provides cigarettes primarily under the Marlboro brand; cigars and pipe tobacco principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands, as well as provides on! oral nicotine pouches.

See Also

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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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