Empowered Funds LLC Cuts Position in Altria Group, Inc. (NYSE:MO)

Empowered Funds LLC lowered its stake in shares of Altria Group, Inc. (NYSE:MO) by 8.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 360,554 shares of the company’s stock after selling 35,199 shares during the period. Empowered Funds LLC’s holdings in Altria Group were worth $18,403,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in MO. MFA Wealth Advisors LLC acquired a new stake in shares of Altria Group during the 2nd quarter worth $27,000. Hobbs Group Advisors LLC purchased a new position in Altria Group in the second quarter valued at approximately $30,000. Valley Wealth Managers Inc. raised its stake in shares of Altria Group by 63.9% in the 2nd quarter. Valley Wealth Managers Inc. now owns 667 shares of the company’s stock valued at $30,000 after acquiring an additional 260 shares during the period. Lynx Investment Advisory purchased a new stake in Altria Group during the 2nd quarter worth $44,000. Finally, Covestor Ltd lifted its stake in shares of Altria Group by 33.4% during the first quarter. Covestor Ltd now owns 1,047 shares of the company’s stock worth $46,000 after purchasing an additional 262 shares in the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Stifel Nicolaus upped their target price on Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. UBS Group increased 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. Deutsche Bank Aktiengesellschaft upped their price target on Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Bank of America decreased their target price on Altria Group from $57.00 to $53.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $51.33.

Altria Group Stock Performance

Shares of Altria Group stock opened at $55.79 on Friday. Altria Group, Inc. has a 52-week low of $39.25 and a 52-week high of $55.90. The stock has a market cap of $94.55 billion, a PE ratio of 9.36, a PEG ratio of 3.14 and a beta of 0.64. The firm has a 50-day moving average of $51.52 and a 200-day moving average of $49.09.

Altria Group (NYSE:MO) last released its earnings results on Thursday, October 31st. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.03. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. The firm had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $5.33 billion. During the same period in the prior year, the company earned $1.28 earnings per share. The company’s quarterly revenue was up 18.6% 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. Stockholders of record on Monday, September 16th were paid a $1.02 dividend. This is a boost from Altria Group’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend was Monday, September 16th. This represents a $4.08 annualized dividend and a dividend yield of 7.31%. Altria Group’s dividend payout ratio is presently 68.92%.

About Altria Group

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.