Commonwealth Equity Services LLC Has $89.88 Million Holdings in Altria Group, Inc. (NYSE:MO)

Key Points

• Commonwealth Equity Services LLC increased its stake in Altria Group by 3.9%, acquiring an additional 56,416 shares, bringing their total holding to approximately 1.5 million shares valued at $89.9 million as of their latest SEC filing.
• Altria Group reported a quarterly earnings per share of $1.44, surpassing expectations by $0.07, with revenues of $5.29 billion for the quarter.
• The company announced a quarterly dividend of $1.02 per share, with an annualized dividend yield of 6.6%, as part of its investor returns strategy.

Commonwealth Equity Services LLC boosted its holdings in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 3.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,497,572 shares of the company's stock after buying an additional 56,416 shares during the quarter. Commonwealth Equity Services LLC owned about 0.09% of Altria Group worth $89,884,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MO. Redwood Park Advisors LLC acquired a new stake in shares of Altria Group in the fourth quarter worth $26,000. Inlight Wealth Management LLC bought a new position in shares of Altria Group during the 1st quarter worth about $31,000. Sierra Ocean LLC raised its position in shares of Altria Group by 226.3% during the first quarter. Sierra Ocean LLC now owns 509 shares of the company's stock valued at $31,000 after buying an additional 353 shares during the last quarter. Pinney & Scofield Inc. bought a new stake in shares of Altria Group in the fourth quarter valued at about $33,000. Finally, Bellwether Advisors LLC bought a new position in Altria Group during the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 57.41% of the company's stock.

Altria Group Stock Performance

MO traded up $0.65 during midday trading on Friday, reaching $64.20. 3,580,770 shares of the company were exchanged, compared to its average volume of 9,163,998. The stock has a market capitalization of $107.84 billion, a P/E ratio of 12.42, a PEG ratio of 3.40 and a beta of 0.59. The stock's 50-day simple moving average is $59.64 and its 200 day simple moving average is $57.70. Altria Group, Inc. has a one year low of $48.86 and a one year high of $64.35.

Altria Group (NYSE:MO - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.44 EPS for the quarter, beating analysts' consensus estimates of $1.37 by $0.07. The business had revenue of $5.29 billion during the quarter, compared to analysts' expectations of $5.21 billion. Altria Group had a net margin of 37.24% and a negative return on equity of 295.26%. The firm's quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.31 EPS. On average, research analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Monday, June 16th were paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 6.4%. The ex-dividend date of this dividend was Monday, June 16th. Altria Group's dividend payout ratio (DPR) is currently 78.92%.

Analyst Upgrades and Downgrades

Several analysts recently commented on MO shares. Wall Street Zen lowered Altria Group from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. Jefferies Financial Group started coverage on shares of Altria Group in a report on Wednesday, July 9th. They set an "underperform" rating and a $50.00 price objective for the company. Needham & Company LLC raised Altria Group to a "hold" rating in a report on Thursday, May 22nd. Citigroup raised their price target on Altria Group from $52.00 to $55.00 and gave the company a "neutral" rating in a report on Friday, April 25th. Finally, Stifel Nicolaus boosted their price objective on Altria Group from $63.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $59.13.

Altria Group 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.