Great Lakes Advisors LLC Acquires 97,056 Shares of Altria Group, Inc. (NYSE:MO)

Great Lakes Advisors LLC raised its holdings in Altria Group, Inc. (NYSE:MOGet Rating) by 510.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 116,052 shares of the company’s stock after buying an additional 97,056 shares during the period. Great Lakes Advisors LLC’s holdings in Altria Group were worth $6,064,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MO. GQG Partners LLC increased its stake in shares of Altria Group by 47,901.8% during the fourth quarter. GQG Partners LLC now owns 9,179,381 shares of the company’s stock worth $434,956,000 after purchasing an additional 9,160,258 shares during the period. State Street Corp increased its stake in shares of Altria Group by 3.4% during the fourth quarter. State Street Corp now owns 71,762,274 shares of the company’s stock worth $3,465,063,000 after purchasing an additional 2,371,300 shares during the period. Capital International Investors increased its stake in shares of Altria Group by 8.2% during the fourth quarter. Capital International Investors now owns 17,727,541 shares of the company’s stock worth $840,078,000 after purchasing an additional 1,348,687 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Altria Group by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,123,753 shares of the company’s stock worth $1,617,126,000 after purchasing an additional 1,103,432 shares during the period. Finally, Pacer Advisors Inc. increased its stake in shares of Altria Group by 111.7% during the first quarter. Pacer Advisors Inc. now owns 1,584,718 shares of the company’s stock worth $82,802,000 after purchasing an additional 836,243 shares during the period. Institutional investors own 59.05% of the company’s stock.

Analysts Set New Price Targets

MO has been the topic of a number of recent research reports. Bank of America lowered their price objective on Altria Group from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, July 8th. Sanford C. Bernstein lowered Altria Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $58.00 to $53.00 in a research note on Tuesday, May 10th. Barclays lowered Altria Group from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $53.00 to $36.00 in a research note on Wednesday, June 29th. Cowen lowered their price objective on 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, Morgan Stanley upgraded Altria Group from an “underweight” rating to an “equal weight” rating and lowered their price objective for the stock from $47.00 to $43.00 in a research note on Friday, June 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $47.00.

Altria Group Stock Performance

Shares of MO stock opened at $44.10 on Friday. The stock’s fifty day moving average price is $45.15 and its two-hundred day moving average price is $49.97. The company has a market cap of $79.42 billion, a PE ratio of 45.46, a P/E/G ratio of 2.28 and a beta of 0.62. Altria Group, Inc. has a fifty-two week low of $41.00 and a fifty-two week high of $57.05.

Altria Group (NYSE:MOGet Rating) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.01. Altria Group had a negative return on equity of 488.86% and a net margin of 6.88%. The company had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.42 billion. During the same quarter last year, the business posted $1.23 EPS. Altria Group’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, equities analysts predict that Altria Group, Inc. will post 4.86 EPS for the current fiscal year.

Altria Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 11th. Investors of record on Wednesday, June 15th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 8.16%. The ex-dividend date was Tuesday, June 14th. Altria Group’s dividend payout ratio (DPR) is 371.13%.

Altria Group Profile

(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.

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

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