Oppenheimer Asset Management Inc. Has $33.41 Million Stake in Altria Group, Inc. (NYSE:MO)

Oppenheimer Asset Management Inc. lifted its position in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 6.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 556,622 shares of the company's stock after acquiring an additional 34,174 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Altria Group were worth $33,408,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Redwood Park Advisors LLC acquired a new stake in Altria Group in the fourth quarter worth about $26,000. VSM Wealth Advisory LLC acquired a new stake in Altria Group in the fourth quarter worth about $29,000. Inlight Wealth Management LLC acquired a new stake in Altria Group in the first quarter worth about $31,000. Marshall Investment Management LLC acquired a new stake in Altria Group in the fourth quarter worth about $32,000. Finally, Promus Capital LLC acquired a new stake in Altria Group in the fourth quarter worth about $33,000. Institutional investors own 57.41% of the company's stock.

Altria Group Stock Performance

NYSE MO traded up $0.77 on Monday, reaching $60.52. The company's stock had a trading volume of 8,917,619 shares, compared to its average volume of 8,585,455. Altria Group, Inc. has a twelve month low of $45.17 and a twelve month high of $61.26. The stock has a market cap of $101.94 billion, a PE ratio of 10.14, a PEG ratio of 3.49 and a beta of 0.61. The firm's 50 day moving average is $59.11 and its two-hundred day moving average is $56.19.

Altria Group (NYSE:MO - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $1.23 EPS for the quarter, beating analysts' consensus estimates of $1.19 by $0.04. Altria Group had a net margin of 43.09% and a negative return on equity of 295.44%. The company had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same period in the prior year, the firm earned $1.15 earnings per share. The business's quarterly revenue was down 4.2% on a year-over-year basis. Equities research analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Monday, June 16th will be paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 6.74%. The ex-dividend date is Monday, June 16th. Altria Group's dividend payout ratio is presently 68.34%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MO shares. Wall Street Zen downgraded shares of Altria Group from a "buy" rating to a "hold" rating in a report on Thursday, May 1st. Barclays upped their price objective on shares of Altria Group from $46.00 to $49.00 and gave the stock an "underweight" rating in a report on Friday, May 2nd. UBS Group upped their price target on shares of Altria Group from $46.00 to $47.00 and gave the company a "sell" rating in a report on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft set a $60.00 price target on shares of Altria Group in a report on Tuesday, April 1st. Finally, Needham & Company LLC raised shares of Altria Group to a "hold" rating in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Altria Group has an average rating of "Hold" and an average price target of $56.00.

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.