Octavia Wealth Advisors LLC Has $5.14 Million Position in Altria Group, Inc. (NYSE:MO)

by · The Markets Daily

Octavia Wealth Advisors LLC lifted its stake in shares of Altria Group, Inc. (NYSE:MO – Free Report) by 5.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 98,738 shares of the company’s stock after buying an additional 5,165 shares during the quarter. Altria Group comprises about 0.6% of Octavia Wealth Advisors LLC’s investment portfolio, making the stock its 28th biggest position. Octavia Wealth Advisors LLC’s holdings in Altria Group were worth $5,139,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Albion Financial Group UT lifted its stake in shares of Altria Group by 49.1% during the 1st quarter. Albion Financial Group UT now owns 2,767 shares of the company’s stock worth $121,000 after buying an additional 911 shares during the last quarter. Nordea Investment Management AB increased its position in Altria Group by 1.6% during the first quarter. Nordea Investment Management AB now owns 1,027,886 shares of the company’s stock worth $44,960,000 after acquiring an additional 16,541 shares during the period. Regal Investment Advisors LLC increased its position in Altria Group by 4.2% during the second quarter. Regal Investment Advisors LLC now owns 251,933 shares of the company’s stock worth $11,476,000 after acquiring an additional 10,079 shares during the period. Atomi Financial Group Inc. increased its position in Altria Group by 7.2% during the first quarter. Atomi Financial Group Inc. now owns 5,953 shares of the company’s stock worth $260,000 after acquiring an additional 399 shares during the period. Finally, &PARTNERS bought a new position in Altria Group during the first quarter worth about $556,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Bank of America raised their target price on shares of Altria Group from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. UBS Group raised their target price on shares of Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a report on Monday, September 9th. Barclays raised their target price on shares of Altria Group from $43.00 to $45.00 and gave the company an “underweight” rating in a report on Monday, September 9th. Citigroup raised their target price on shares of Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, StockNews.com lowered shares of Altria Group from a “buy” rating to a “hold” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $50.17.

View Our Latest Stock Analysis on Altria Group

Altria Group Price Performance

NYSE:MO opened at $49.84 on Friday. The firm’s 50 day simple moving average is $51.55 and its 200 day simple moving average is $47.53. Altria Group, Inc. has a one year low of $39.06 and a one year high of $54.95. The company has a market cap of $85.61 billion, a PE ratio of 10.43, a P/E/G ratio of 2.90 and a beta of 0.65.

Altria Group (NYSE:MO – Get Free Report) last posted its earnings results on Wednesday, July 31st. The company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.04). Altria Group had a negative return on equity of 232.55% and a net margin of 42.25%. The business had revenue of $6.21 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same quarter in the prior year, the business earned $1.31 earnings per share. The firm’s quarterly revenue was up 14.2% on a year-over-year basis. Equities research analysts expect that Altria Group, Inc. will post 5.11 EPS for the current year.

Altria Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 16th were given a dividend of $1.02 per share. The ex-dividend date of this dividend was Monday, September 16th. This is an increase from Altria Group’s previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a yield of 8.19%. Altria Group’s dividend payout ratio (DPR) is currently 85.36%.

Altria Group Company Profile

(Free Report)

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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