Altria Group, Inc. (NYSE:MO) Shares Sold by Boenning & Scattergood Inc.

Boenning & Scattergood Inc. lowered its position in shares of Altria Group, Inc. (NYSE:MOGet Rating) by 11.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 5,353 shares of the company’s stock after selling 698 shares during the quarter. Boenning & Scattergood Inc.’s holdings in Altria Group were worth $224,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of MO. GQG Partners LLC raised its position in shares of Altria Group by 47,901.8% during the 4th 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. Vanguard Group Inc. raised its position in shares of Altria Group by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 157,264,573 shares of the company’s stock worth $8,217,074,000 after purchasing an additional 3,101,529 shares during the period. State Street Corp raised its position in shares of Altria Group by 3.4% during the 4th 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. Charles Schwab Investment Management Inc. raised its position in shares of Altria Group by 6.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 36,302,349 shares of the company’s stock worth $1,896,798,000 after purchasing an additional 2,178,596 shares during the period. Finally, BlackRock Inc. raised its position in shares of Altria Group by 1.8% during the 1st quarter. BlackRock Inc. now owns 119,840,218 shares of the company’s stock worth $6,261,650,000 after purchasing an additional 2,098,737 shares during the period. Institutional investors and hedge funds own 59.75% of the company’s stock.

Wall Street Analyst Weigh In

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

Altria Group Stock Up 0.6 %

MO opened at $43.27 on Friday. The firm has a market cap of $77.92 billion, a PE ratio of 44.61, a P/E/G ratio of 1.36 and a beta of 0.59. The business has a fifty day simple moving average of $44.27 and a 200-day simple moving average of $48.49. 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, topping the consensus estimate of $1.25 by $0.01. The business had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.42 billion. Altria Group had a negative return on equity of 488.86% and a net margin of 6.88%. The company’s revenue was down 4.3% compared to the same quarter last year. During the same period last year, the company posted $1.23 EPS. On average, equities research analysts anticipate that Altria Group, Inc. will post 4.85 EPS for the current fiscal year.

Altria Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 11th. Stockholders of record on Thursday, September 15th will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This is a positive change from Altria Group’s previous quarterly dividend of $0.90. This represents a $3.76 annualized dividend and a dividend yield of 8.69%. Altria Group’s dividend payout ratio (DPR) is currently 387.63%.

About Altria Group

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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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