Seeyond Increases Position in Altria Group, Inc. (NYSE:MO)

Seeyond increased its holdings in shares of Altria Group, Inc. (NYSE:MO) by 0.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,344 shares of the company’s stock after buying an additional 248 shares during the quarter. Seeyond’s holdings in Altria Group were worth $2,638,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Woodmont Investment Counsel LLC lifted its stake in Altria Group by 3.9% during the first quarter. Woodmont Investment Counsel LLC now owns 5,325 shares of the company’s stock worth $272,000 after purchasing an additional 200 shares in the last quarter. Paradigm Financial Partners LLC lifted its stake in Altria Group by 0.6% during the first quarter. Paradigm Financial Partners LLC now owns 33,247 shares of the company’s stock worth $1,701,000 after purchasing an additional 206 shares in the last quarter. Convergence Investment Partners LLC lifted its stake in Altria Group by 0.5% during the second quarter. Convergence Investment Partners LLC now owns 49,252 shares of the company’s stock worth $2,348,000 after purchasing an additional 230 shares in the last quarter. Apollon Wealth Management LLC lifted its stake in Altria Group by 4.1% during the second quarter. Apollon Wealth Management LLC now owns 5,960 shares of the company’s stock worth $284,000 after purchasing an additional 233 shares in the last quarter. Finally, BerganKDV Wealth Management LLC lifted its stake in Altria Group by 14.3% during the second quarter. BerganKDV Wealth Management LLC now owns 1,992 shares of the company’s stock worth $95,000 after purchasing an additional 249 shares in the last quarter. Hedge funds and other institutional investors own 59.44% of the company’s stock.

A number of research firms have commented on MO. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $54.00 price target on shares of Altria Group in a research note on Friday, July 23rd. Redburn Partners assumed coverage on Altria Group in a research note on Thursday, June 17th. They issued a “neutral” rating on the stock. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $52.75.

Altria Group stock traded up $0.40 during midday trading on Thursday, reaching $48.32. The company’s stock had a trading volume of 18,457 shares, compared to its average volume of 8,176,521. Altria Group, Inc. has a fifty-two week low of $35.83 and a fifty-two week high of $52.59. The company has a quick ratio of 0.41, a current ratio of 0.72 and a debt-to-equity ratio of 8.67. The company has a market cap of $89.11 billion, a P/E ratio of 19.56, a P/E/G ratio of 2.73 and a beta of 0.63. The business has a 50-day simple moving average of $48.49 and a 200-day simple moving average of $48.67.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Wednesday, July 28th. The company reported $1.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.05. Altria Group had a return on equity of 268.09% and a net margin of 17.22%. The company had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.36 billion. As a group, equities analysts forecast that Altria Group, Inc. will post 4.63 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 12th. Shareholders of record on Wednesday, September 15th were issued a dividend of $0.90 per share. This is a positive change from Altria Group’s previous quarterly dividend of $0.86. The ex-dividend date was Tuesday, September 14th. This represents a $3.60 annualized dividend and a dividend yield of 7.45%. Altria Group’s dividend payout ratio (DPR) is presently 82.57%.

Altria Group Profile

Altria Group, Inc operates as a holding company, which engages in the manufacture and sale of cigarettes in the United States. It operates through the following segments: Smokeable Products, Smokeless Products, and Wine. The Smokeable Products segment comprised of cigarettes manufactured and sold by PM USA and machine-made large cigars and pipe tobacco manufactured and sold by Middleton.

Further Reading: Average Daily Trade Volume Explained

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

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