Brave Asset Management Inc raised its position in shares of Altria Group (NYSE:MO) by 4.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,228 shares of the company’s stock after buying an additional 128 shares during the period. Brave Asset Management Inc’s holdings in Altria Group were worth $223,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of MO. Schroder Investment Management Group raised its stake in shares of Altria Group by 26.0% in the second quarter. Schroder Investment Management Group now owns 1,871,773 shares of the company’s stock worth $129,078,000 after buying an additional 385,659 shares during the period. Accredited Investors Inc. raised its stake in shares of Altria Group by 2.2% in the second quarter. Accredited Investors Inc. now owns 9,133 shares of the company’s stock worth $613,000 after buying an additional 198 shares during the period. Global X Management Co. LLC raised its stake in shares of Altria Group by 11.2% in the second quarter. Global X Management Co. LLC now owns 98,604 shares of the company’s stock worth $6,800,000 after buying an additional 9,951 shares during the period. Beacon Investment Advisory Services Inc. raised its stake in shares of Altria Group by 10,152.7% in the second quarter. Beacon Investment Advisory Services Inc. now owns 810,581 shares of the company’s stock worth $559,000 after buying an additional 802,675 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in shares of Altria Group by 1.6% in the second quarter. Advisors Asset Management Inc. now owns 604,653 shares of the company’s stock worth $41,697,000 after buying an additional 9,286 shares during the period. Hedge funds and other institutional investors own 61.29% of the company’s stock.

Shares of Altria Group (NYSE:MO) traded up 0.32% during mid-day trading on Wednesday, reaching $63.17. The company’s stock had a trading volume of 2,472,004 shares. The company has a 50 day moving average of $65.74 and a 200-day moving average of $64.93. The firm has a market capitalization of $123.43 billion, a P/E ratio of 21.93 and a beta of 0.48. Altria Group has a 12 month low of $53.68 and a 12 month high of $70.15.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.01. Altria Group had a return on equity of 198.82% and a net margin of 22.05%. The firm had revenue of $6.52 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same period in the previous year, the company posted $0.74 earnings per share. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. Equities research analysts forecast that Altria Group will post $3.05 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 11th. Investors of record on Thursday, September 15th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 3.87%. This is a positive change from Altria Group’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Tuesday, September 13th. Altria Group’s payout ratio is currently 84.72%.

A number of research firms have commented on MO. Jefferies Group began coverage on Altria Group in a report on Wednesday. They set a “hold” rating and a $70.00 target price on the stock. Credit Agricole SA reduced their target price on Altria Group from $69.00 to $68.00 and set an “outperform” rating on the stock in a report on Thursday, September 15th. Vetr downgraded Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.90 target price on the stock. in a report on Tuesday, September 13th. Citigroup Inc. began coverage on Altria Group in a report on Monday, September 12th. They set a “buy” rating and a $72.00 target price on the stock. Finally, Zacks Investment Research raised Altria Group from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a report on Thursday, August 4th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $69.45.

In related news, SVP Charles N. Whitaker sold 11,000 shares of the business’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $66.53, for a total transaction of $731,830.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP James E. Dillard III sold 9,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $66.68, for a total value of $600,120.00. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.

Altria Group Company Profile

Altria Group, Inc is a holding company. The Company’s subsidiaries include Philip Morris USA Inc (PM USA), which is engaged in the manufacture and sale of cigarettes in the United States; John Middleton Co (Middleton), which is engaged in the manufacture and sale of machine-made large cigars and pipe tobacco, and UST LLC (UST), which through its subsidiaries, including U.S.

5 Day Chart for NYSE:MO

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