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Dakota Wealth Management Buys New Position in Altria Group, Inc. (NYSE:MO)

Dakota Wealth Management bought a new stake in shares of Altria Group, Inc. (NYSE:MOGet Rating) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 11,801 shares of the company’s stock, valued at approximately $617,000.

Several other hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in Altria Group by 1.8% during the 1st quarter. BlackRock Inc. now owns 119,840,218 shares of the company’s stock valued at $6,261,650,000 after buying an additional 2,098,737 shares in the last quarter. State Street Corp increased its position in Altria Group by 3.4% during the 4th quarter. State Street Corp now owns 71,762,274 shares of the company’s stock valued at $3,465,063,000 after buying an additional 2,371,300 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Altria Group by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 34,123,753 shares of the company’s stock valued at $1,617,126,000 after buying an additional 1,103,432 shares in the last quarter. Geode Capital Management LLC increased its position in Altria Group by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 30,391,914 shares of the company’s stock valued at $1,437,087,000 after buying an additional 644,221 shares in the last quarter. Finally, Capital International Investors increased its position in Altria Group by 8.2% during the 4th quarter. Capital International Investors now owns 17,727,541 shares of the company’s stock valued at $840,078,000 after buying an additional 1,348,687 shares in the last quarter. 59.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MO shares. Morgan Stanley raised Altria Group from an “underweight” rating to an “equal weight” rating and cut their price objective for the company from $47.00 to $43.00 in a report on Friday, June 24th. Cowen cut their price objective on Altria Group from $56.00 to $45.00 and set a “market perform” rating on the stock in a report on Monday, June 27th. Cowen cut their price objective on Altria Group from $56.00 to $45.00 and set a “market perform” rating on the stock in a report on Monday, June 27th. Barclays lowered Altria Group from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $53.00 to $36.00 in a report on Wednesday, June 29th. Finally, Bank of America cut their price objective on Altria Group from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, July 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Altria Group has a consensus rating of “Hold” and a consensus target price of $47.00.

Altria Group Stock Up 0.4 %

Shares of MO opened at $45.15 on Friday. Altria Group, Inc. has a 52 week low of $41.00 and a 52 week high of $57.05. The company has a market capitalization of $81.31 billion, a price-to-earnings ratio of 46.55, a PEG ratio of 1.41 and a beta of 0.59. The stock’s 50-day moving average price is $44.01 and its 200-day moving average price is $49.09.

Altria Group (NYSE:MOGet Rating) last issued its earnings results on Thursday, July 28th. The company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.42 billion. During the same quarter in the prior year, the business earned $1.23 earnings per share. The company’s revenue was down 4.3% compared to the same quarter last year. As a group, equities analysts anticipate that Altria Group, Inc. will post 4.85 EPS 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. Shareholders of record on Thursday, September 15th will be given a dividend of $0.94 per share. The ex-dividend date is Wednesday, September 14th. This represents a $3.76 dividend on an annualized basis and a yield of 8.33%. This is an increase from Altria Group’s previous quarterly dividend of $0.90. Altria Group’s dividend payout ratio is currently 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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