Invesco Ltd. Has $734.83 Million Holdings in Altria Group, Inc. (NYSE:MO)

Key Points

• Invesco Ltd. increased its holdings in Altria Group, Inc. by 3.7% during the first quarter, owning approximately $734.83 million worth of shares.
• Altria Group's stock has received mixed ratings from analysts, with a consensus price target of $59.13 and an average rating of "Hold."
• The company declared a quarterly dividend of $1.02 per share, resulting in an annualized dividend yield of 6.4%.

Invesco Ltd. grew its holdings in Altria Group, Inc. (NYSE:MO - Free Report) by 3.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,243,041 shares of the company's stock after purchasing an additional 441,083 shares during the period. Invesco Ltd. owned about 0.73% of Altria Group worth $734,827,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vista Investment Partners II LLC increased its holdings in shares of Altria Group by 4.2% in the first quarter. Vista Investment Partners II LLC now owns 4,302 shares of the company's stock valued at $258,000 after purchasing an additional 174 shares during the last quarter. Wealth Alliance LLC boosted its position in shares of Altria Group by 1.9% in the first quarter. Wealth Alliance LLC now owns 9,452 shares of the company's stock valued at $567,000 after acquiring an additional 174 shares during the period. Patten & Patten Inc. TN boosted its position in shares of Altria Group by 1.5% in the first quarter. Patten & Patten Inc. TN now owns 12,049 shares of the company's stock valued at $723,000 after acquiring an additional 174 shares during the period. Baron Silver Stevens Financial Advisors LLC boosted its position in shares of Altria Group by 2.7% in the first quarter. Baron Silver Stevens Financial Advisors LLC now owns 6,762 shares of the company's stock valued at $406,000 after acquiring an additional 175 shares during the period. Finally, Ironwood Investment Counsel LLC boosted its position in shares of Altria Group by 4.1% in the first quarter. Ironwood Investment Counsel LLC now owns 4,721 shares of the company's stock valued at $283,000 after acquiring an additional 187 shares during the period. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Citigroup boosted their target price on shares of Altria Group from $52.00 to $55.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. Stifel Nicolaus boosted their target price on shares of Altria Group from $63.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Morgan Stanley upped their price objective on shares of Altria Group from $57.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. UBS Group raised shares of Altria Group from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $47.00 to $59.00 in a research report on Wednesday, July 2nd. Finally, Barclays upped their price objective on shares of Altria Group from $49.00 to $57.00 and gave the stock an "underweight" rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, Altria Group currently has an average rating of "Hold" and a consensus price target of $59.13.

Altria Group Price Performance

Altria Group stock opened at $64.21 on Friday. The business has a 50 day moving average of $59.72 and a 200-day moving average of $57.83. Altria Group, Inc. has a 1 year low of $48.86 and a 1 year high of $64.35. The company has a market capitalization of $107.87 billion, a P/E ratio of 12.42, a P/E/G ratio of 3.45 and a beta of 0.59.

Altria Group (NYSE:MO - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share 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 the consensus estimate of $5.21 billion. Altria Group had a net margin of 37.24% and a negative return on equity of 295.26%. The company's revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.31 EPS. Equities analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

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

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.

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