Alpha Omega Wealth Management LLC Has $582,000 Stock Holdings in Altria Group, Inc. (NYSE:MO)

19 Dec 2023, 16:16 by Michael Walen · The Markets Daily

Alpha Omega Wealth Management LLC cut its position in shares of Altria Group, Inc. (NYSE:MO – Free Report) by 4.5% during the third quarter, Holdings Channel reports. The institutional investor owned 13,836 shares of the company’s stock after selling 657 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Altria Group were worth $582,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in MO. CWM LLC lifted its stake in Altria Group by 19.4% during the third quarter. CWM LLC now owns 180,436 shares of the company’s stock worth $7,587,000 after purchasing an additional 29,341 shares during the period. MBL Wealth LLC bought a new position in Altria Group during the third quarter worth about $241,000. Kathmere Capital Management LLC lifted its stake in Altria Group by 10.5% during the third quarter. Kathmere Capital Management LLC now owns 23,599 shares of the company’s stock worth $992,000 after purchasing an additional 2,238 shares during the period. Armstrong Advisory Group Inc. lifted its stake in Altria Group by 8.8% during the third quarter. Armstrong Advisory Group Inc. now owns 9,048 shares of the company’s stock worth $380,000 after purchasing an additional 732 shares during the period. Finally, Adams Asset Advisors LLC lifted its stake in Altria Group by 28.9% during the third quarter. Adams Asset Advisors LLC now owns 249,611 shares of the company’s stock worth $10,496,000 after purchasing an additional 55,974 shares during the period. 58.94% of the stock is owned by institutional investors and hedge funds.

Altria Group Stock Performance

MO opened at $42.20 on Tuesday. The company has a fifty day moving average price of $41.42 and a two-hundred day moving average price of $43.18. Altria Group, Inc. has a 52 week low of $39.06 and a 52 week high of $51.57. The firm has a market capitalization of $74.63 billion, a PE ratio of 8.59, a P/E/G ratio of 2.77 and a beta of 0.66.

Altria Group (NYSE:MO – Get Free Report) last announced its quarterly earnings results on Thursday, October 26th. The company reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.01). The firm had revenue of $5.28 billion during the quarter, compared to analyst estimates of $5.43 billion. Altria Group had a net margin of 35.58% and a negative return on equity of 237.91%. Altria Group’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period last year, the firm earned $1.28 EPS. Equities analysts forecast that Altria Group, Inc. will post 4.96 EPS for the current year.

Altria Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Thursday, December 21st will be paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 9.29%. The ex-dividend date of this dividend is Wednesday, December 20th. Altria Group’s payout ratio is presently 79.84%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MO. Jefferies Financial Group lifted their target price on shares of Altria Group from $55.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, October 13th. StockNews.com cut shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Tuesday. UBS Group cut their target price on shares of Altria Group from $40.40 to $39.20 and set a “sell” rating for the company in a research note on Friday, October 6th. Bank of America cut their target price on shares of Altria Group from $49.00 to $47.00 in a research note on Monday, October 9th. Finally, Citigroup cut their target price on shares of Altria Group from $46.50 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Altria Group has a consensus rating of “Hold” and an average price target of $47.53.

Read Our Latest Stock Report on Altria Group

Insider Buying and Selling

In other Altria Group news, Director Robert Matthews Davis purchased 1,200 shares of the business’s stock in a transaction on Monday, November 6th. The shares were purchased at an average cost of $40.50 per share, with a total value of $48,600.00. Following the transaction, the director now directly owns 8,473 shares of the company’s stock, valued at approximately $343,156.50. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.07% of the company’s stock.

Altria Group Profile

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