Johnson Investment Counsel Inc. increased its stake in Altria Group, Inc. (NYSE:MO) by 2.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 58,144 shares of the company’s stock after acquiring an additional 1,298 shares during the period. Johnson Investment Counsel Inc.’s holdings in Altria Group were worth $2,822,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Isthmus Partners LLC acquired a new position in Altria Group during the second quarter valued at approximately $25,000. Centerpoint Advisors LLC lifted its position in Altria Group by 120.0% during the second quarter. Centerpoint Advisors LLC now owns 550 shares of the company’s stock valued at $26,000 after buying an additional 300 shares in the last quarter. Alaethes Wealth LLC acquired a new position in Altria Group during the second quarter valued at approximately $26,000. Bellwether Advisors LLC lifted its position in Altria Group by 79.6% during the second quarter. Bellwether Advisors LLC now owns 573 shares of the company’s stock valued at $27,000 after buying an additional 254 shares in the last quarter. Finally, Mizuho Securities Co. Ltd. lifted its position in Altria Group by 263.3% during the first quarter. Mizuho Securities Co. Ltd. now owns 545 shares of the company’s stock valued at $28,000 after buying an additional 395 shares in the last quarter. 59.44% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:MO opened at $47.92 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.41 and a debt-to-equity ratio of 8.67. The company has a fifty day simple moving average of $48.49 and a 200 day simple moving average of $48.67. The firm has a market cap of $88.37 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 2.73 and a beta of 0.63. Altria Group, Inc. has a 12-month low of $35.83 and a 12-month high of $52.59.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 12th. Investors of record on Wednesday, September 15th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 7.51%. The ex-dividend date was Tuesday, September 14th. This is a positive change from Altria Group’s previous quarterly dividend of $0.86. Altria Group’s payout ratio is 82.57%.
A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $54.00 price target on shares of Altria Group in a research report on Friday, July 23rd. Redburn Partners initiated coverage on shares of Altria Group in a research note on Thursday, June 17th. They set a “neutral” rating on the stock. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $52.75.
Altria Group Company 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.
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