Tyche Wealth Partners LLC Has $4.60 Million Stock Position in Altria Group, Inc. (NYSE:MO)

Tyche Wealth Partners LLC reduced its stake in Altria Group, Inc. (NYSE:MO) by 2.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 90,177 shares of the company’s stock after selling 1,990 shares during the period. Altria Group makes up approximately 1.0% of Tyche Wealth Partners LLC’s holdings, making the stock its 22nd largest holding. Tyche Wealth Partners LLC’s holdings in Altria Group were worth $4,603,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MO. Legal & General Group Plc raised its stake in shares of Altria Group by 1.6% in the second quarter. Legal & General Group Plc now owns 12,355,509 shares of the company’s stock valued at $562,793,000 after acquiring an additional 191,236 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Altria Group by 25.0% in the second quarter. AQR Capital Management LLC now owns 6,490,441 shares of the company’s stock worth $295,055,000 after acquiring an additional 1,299,703 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Altria Group by 5.0% during the second quarter. Victory Capital Management Inc. now owns 5,060,589 shares of the company’s stock worth $230,510,000 after purchasing an additional 243,201 shares in the last quarter. LSV Asset Management boosted its position in Altria Group by 4.6% in the 2nd quarter. LSV Asset Management now owns 4,888,137 shares of the company’s stock valued at $222,655,000 after buying an additional 215,594 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Altria Group by 1.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,754,522 shares of the company’s stock worth $163,772,000 after acquiring an additional 54,096 shares during the last quarter. 57.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on MO shares. Citigroup raised their price target on Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. UBS Group raised their target price on Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a report on Monday, September 9th. StockNews.com cut Altria Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Stifel Nicolaus lifted their price objective on shares of Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Bank of America cut their target price on shares of Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $48.20.

Altria Group Stock Performance

MO traded down $0.22 during trading on Tuesday, reaching $50.03. 1,861,869 shares of the stock were exchanged, compared to its average volume of 9,790,862. The stock has a market cap of $85.93 billion, a P/E ratio of 10.46, a price-to-earnings-growth ratio of 2.89 and a beta of 0.65. The stock’s 50 day moving average price is $51.40 and its two-hundred day moving average price is $48.17. Altria Group, Inc. has a twelve month low of $39.25 and a twelve month high of $54.95.

Altria Group (NYSE:MO) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). Altria Group had a net margin of 42.25% and a negative return on equity of 232.55%. The business had revenue of $6.21 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same period in the previous year, the business earned $1.31 earnings per share. The business’s quarterly revenue was up 14.2% on a year-over-year basis. Equities research analysts predict that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 16th were paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 8.16%. The ex-dividend date was Monday, September 16th. This is an increase from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s payout ratio is 85.36%.

Altria Group Company Profile

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.