Rovin Capital UT ADV Increases Position in Altria Group, Inc. (NYSE:MO)

Rovin Capital UT ADV lifted its position in shares of Altria Group, Inc. (NYSE:MO) by 9.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,595 shares of the company’s stock after buying an additional 1,547 shares during the quarter. Rovin Capital UT ADV’s holdings in Altria Group were worth $949,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MO. Delta Investment Management LLC lifted its stake in Altria Group by 2.9% during the 2nd quarter. Delta Investment Management LLC now owns 7,064 shares of the company’s stock valued at $322,000 after acquiring an additional 198 shares during the period. Scarborough Advisors LLC lifted its position in Altria Group by 18.5% during the second quarter. Scarborough Advisors LLC now owns 1,283 shares of the company’s stock valued at $58,000 after purchasing an additional 200 shares during the period. American Institute for Advanced Investment Management LLP boosted its holdings in Altria Group by 3.5% in the third quarter. American Institute for Advanced Investment Management LLP now owns 5,860 shares of the company’s stock valued at $299,000 after purchasing an additional 200 shares during the last quarter. Zhang Financial LLC grew its position in Altria Group by 1.1% during the 3rd quarter. Zhang Financial LLC now owns 18,454 shares of the company’s stock worth $942,000 after purchasing an additional 202 shares during the period. Finally, Hollencrest Capital Management increased its holdings in shares of Altria Group by 0.3% during the 2nd quarter. Hollencrest Capital Management now owns 76,595 shares of the company’s stock valued at $3,489,000 after purchasing an additional 203 shares in the last quarter. Institutional investors own 57.41% of the company’s stock.

Altria Group Price Performance

MO stock opened at $54.07 on Friday. Altria Group, Inc. has a 1 year low of $39.25 and a 1 year high of $55.05. The firm has a market capitalization of $91.64 billion, a PE ratio of 9.13, a price-to-earnings-growth ratio of 3.09 and a beta of 0.64. The business has a 50 day simple moving average of $51.50 and a 200-day simple moving average of $48.81.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.03. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. The firm had revenue of $6.26 billion during the quarter, compared to analyst estimates of $5.33 billion. During the same quarter in the prior year, the firm posted $1.28 earnings per share. Altria Group’s quarterly revenue was up 18.6% on a year-over-year basis. On average, equities research analysts expect that Altria Group, Inc. will post 5.11 EPS for the current year.

Altria Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 16th were issued a $1.02 dividend. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a yield of 7.55%. The ex-dividend date was Monday, September 16th. Altria Group’s payout ratio is 68.92%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Barclays upped their price target on Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft increased their target price on Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus boosted their price target on shares of Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. UBS Group increased their price objective on shares of Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a report on Monday, September 9th. Finally, Citigroup upped their price target on shares of Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $51.33.

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.