Altria Group, Inc. (NYSE:MO) Position Lessened by Bokf Na

Bokf Na lowered its position in Altria Group, Inc. (NYSE:MO) by 25.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,708 shares of the company’s stock after selling 21,289 shares during the quarter. Bokf Na’s holdings in Altria Group were worth $2,856,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Johnson Investment Counsel Inc. grew its stake in shares of Altria Group by 1.5% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 87,228 shares of the company’s stock valued at $3,973,000 after buying an additional 1,323 shares in the last quarter. Y.D. More Investments Ltd bought a new position in Altria Group during the second quarter valued at approximately $178,000. Perritt Capital Management Inc lifted its stake in Altria Group by 22.6% in the second quarter. Perritt Capital Management Inc now owns 10,637 shares of the company’s stock valued at $485,000 after acquiring an additional 1,962 shares during the last quarter. American Century Companies Inc. grew its position in Altria Group by 163.6% in the second quarter. American Century Companies Inc. now owns 50,862 shares of the company’s stock worth $2,317,000 after acquiring an additional 31,568 shares in the last quarter. Finally, Bahl & Gaynor Inc. increased its stake in shares of Altria Group by 1.6% during the 2nd quarter. Bahl & Gaynor Inc. now owns 14,689 shares of the company’s stock worth $669,000 after purchasing an additional 234 shares during the last quarter. 57.41% of the stock is owned by institutional investors and hedge funds.

Altria Group Stock Performance

Shares of NYSE:MO opened at $52.96 on Friday. The stock’s 50-day moving average is $50.89 and its 200-day moving average is $46.42. The company has a market cap of $90.36 billion, a P/E ratio of 11.08, a P/E/G ratio of 3.07 and a beta of 0.65. Altria Group, Inc. has a 52-week low of $39.06 and a 52-week high of $54.95.

Altria Group (NYSE:MO) last released its earnings results 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 last year, the business earned $1.31 EPS. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. As a group, equities analysts predict that Altria Group, Inc. will post 5.11 EPS for the current year.

Altria Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Monday, September 16th will be given a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 7.70%. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. The ex-dividend date is Monday, September 16th. Altria Group’s dividend payout ratio (DPR) is currently 82.01%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on MO shares. Barclays lifted their price objective on shares of Altria Group from $43.00 to $45.00 and gave the company an “underweight” rating in a research note on Monday, September 9th. Stifel Nicolaus boosted their price target on Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Argus raised Altria Group to a “hold” rating in a report on Friday, May 31st. UBS Group boosted 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. Finally, StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a research report on Friday, June 28th. Two investment 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $49.67.

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.