Daymark Wealth Partners LLC Has $1.72 Million Stock Holdings in Altria Group, Inc. $MO

by · The Markets Daily

Daymark Wealth Partners LLC lifted its holdings in shares of Altria Group, Inc. (NYSE:MO – Free Report) by 1.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,384 shares of the company’s stock after buying an additional 545 shares during the period. Daymark Wealth Partners LLC’s holdings in Altria Group were worth $1,723,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of MO. GQG Partners LLC lifted its stake in Altria Group by 8,146.4% in the 1st quarter. GQG Partners LLC now owns 18,698,594 shares of the company’s stock valued at $1,122,290,000 after purchasing an additional 18,471,846 shares during the last quarter. Nuveen LLC acquired a new stake in Altria Group in the 1st quarter valued at about $219,141,000. Charles Schwab Investment Management Inc. lifted its stake in Altria Group by 5.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 63,288,773 shares of the company’s stock valued at $3,798,592,000 after purchasing an additional 3,483,487 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Altria Group by 40.0% in the 1st quarter. JPMorgan Chase & Co. now owns 11,961,220 shares of the company’s stock valued at $717,913,000 after purchasing an additional 3,415,237 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its stake in Altria Group by 111.3% in the 1st quarter. Raymond James Financial Inc. now owns 5,558,252 shares of the company’s stock valued at $333,606,000 after purchasing an additional 2,928,006 shares during the last quarter. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Barclays raised their target price on shares of Altria Group from $49.00 to $57.00 and gave the company an “underweight” rating in a research note on Wednesday, August 6th. The Goldman Sachs Group raised their target price on shares of Altria Group from $65.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Altria Group in a report on Wednesday, October 8th. Jefferies Financial Group started coverage on shares of Altria Group in a report on Wednesday, July 9th. They issued an “underperform” rating and a $50.00 price target on the stock. Finally, UBS Group raised shares of Altria Group from a “sell” rating to a “neutral” rating and increased their price target for the company from $47.00 to $59.00 in a report on Wednesday, July 2nd. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $62.11.

Get Our Latest Stock Analysis on MO

Altria Group Trading Down 2.1%

Shares of MO opened at $61.93 on Thursday. Altria Group, Inc. has a 12 month low of $49.88 and a 12 month high of $68.60. The firm’s 50 day moving average is $65.54 and its 200-day moving average is $61.90. The stock has a market capitalization of $104.03 billion, a PE ratio of 11.98, a P/E/G ratio of 3.52 and a beta of 0.55.

Altria Group (NYSE:MO – Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.37 by $0.07. Altria Group had a net margin of 37.24% and a negative return on equity of 295.26%. The company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.21 billion. During the same period last year, the firm earned $1.31 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. Equities research analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Monday, September 15th were issued a dividend of $1.06 per share. This is a boost from Altria Group’s previous quarterly dividend of $1.02. This represents a $4.24 annualized dividend and a dividend yield of 6.8%. The ex-dividend date of this dividend was Monday, September 15th. Altria Group’s payout ratio is 82.01%.

Altria Group 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.

See Also

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