Fortune Financial Advisors LLC Sells 319 Shares of Altria Group, Inc. (NYSE:MO)

Fortune Financial Advisors LLC trimmed its position in Altria Group, Inc. (NYSE:MO) by 0.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,167 shares of the company’s stock after selling 319 shares during the period. Altria Group makes up approximately 1.9% of Fortune Financial Advisors LLC’s holdings, making the stock its 19th biggest holding. Fortune Financial Advisors LLC’s holdings in Altria Group were worth $2,050,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of MO. Kavar Capital Partners Group LLC boosted its holdings in Altria Group by 0.8% in the third quarter. Kavar Capital Partners Group LLC now owns 31,935 shares of the company’s stock worth $1,630,000 after acquiring an additional 250 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Altria Group by 7.9% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 388,836 shares of the company’s stock worth $19,861,000 after purchasing an additional 28,451 shares in the last quarter. Modera Wealth Management LLC grew its position in Altria Group by 10.0% during the 3rd quarter. Modera Wealth Management LLC now owns 21,461 shares of the company’s stock worth $1,095,000 after purchasing an additional 1,953 shares during the last quarter. MCF Advisors LLC increased its stake in Altria Group by 8.4% during the 3rd quarter. MCF Advisors LLC now owns 14,120 shares of the company’s stock valued at $734,000 after purchasing an additional 1,098 shares in the last quarter. Finally, Pathway Financial Advisers LLC raised its holdings in shares of Altria Group by 3,341.8% in the third quarter. Pathway Financial Advisers LLC now owns 65,532 shares of the company’s stock worth $3,345,000 after buying an additional 63,628 shares during the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Stock Down 0.5 %

MO stock opened at $49.71 on Friday. Altria Group, Inc. has a 52-week low of $39.06 and a 52-week high of $54.95. The firm has a market cap of $85.38 billion, a P/E ratio of 10.40, a PEG ratio of 2.89 and a beta of 0.65. The company’s 50-day simple moving average is $51.42 and its 200-day simple moving average is $48.06.

Altria Group (NYSE:MO) last issued its quarterly earnings data 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 net margin of 42.25% and a negative return on equity of 232.55%. The business had revenue of $6.21 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same period in the previous year, the business posted $1.31 earnings per share. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. On average, analysts anticipate that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 16th were paid a $1.02 dividend. 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 8.21%. The ex-dividend date was Monday, September 16th. Altria Group’s dividend payout ratio is currently 85.36%.

Analyst Ratings Changes

Several equities analysts recently issued reports on MO shares. Barclays upped their target price on Altria Group from $43.00 to $45.00 and gave the company an “underweight” rating in a research report on Monday, September 9th. Citigroup raised their price objective on Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Bank of America dropped their target price on Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. StockNews.com cut shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Finally, UBS Group increased their price objective on shares of Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a research note on Monday, September 9th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Altria Group has an average rating of “Hold” and a consensus target price of $48.20.

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.