Deltec Asset Management LLC Reduces Stock Holdings in Altria Group, Inc. (NYSE:MO)

Deltec Asset Management LLC trimmed its holdings in shares of Altria Group, Inc. (NYSE:MO) by 2.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,278 shares of the company’s stock after selling 1,372 shares during the quarter. Deltec Asset Management LLC’s holdings in Altria Group were worth $2,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MO. Steele Capital Management Inc. purchased a new stake in Altria Group during the 2nd quarter valued at about $239,000. V Square Quantitative Management LLC grew its stake in Altria Group by 179.9% during the 2nd quarter. V Square Quantitative Management LLC now owns 12,213 shares of the company’s stock valued at $556,000 after purchasing an additional 7,850 shares during the last quarter. Maia Wealth LLC purchased a new stake in Altria Group during the 2nd quarter valued at about $277,000. Burke & Herbert Bank & Trust Co. lifted its holdings in shares of Altria Group by 77.5% in the 2nd quarter. Burke & Herbert Bank & Trust Co. now owns 22,487 shares of the company’s stock valued at $1,024,000 after buying an additional 9,818 shares during the period. Finally, Wedmont Private Capital lifted its holdings in shares of Altria Group by 28.4% in the 2nd quarter. Wedmont Private Capital now owns 10,987 shares of the company’s stock valued at $524,000 after buying an additional 2,432 shares during the period. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Altria Group Stock Performance

Shares of MO stock traded up $0.08 during trading hours on Wednesday, reaching $51.19. The company had a trading volume of 5,256,537 shares, compared to its average volume of 10,602,242. The stock has a fifty day moving average of $47.67 and a 200-day moving average of $44.50. The company has a market capitalization of $87.93 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 3.07 and a beta of 0.66. Altria Group, Inc. has a 12-month low of $39.06 and a 12-month high of $51.40.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.04). The business had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $5.39 billion. Altria Group had a negative return on equity of 232.55% and a net margin of 42.25%. The company’s revenue was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.31 earnings per share. On average, analysts forecast that Altria Group, Inc. will post 5.11 EPS for the current year.

Altria Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Friday, June 14th were paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 7.66%. The ex-dividend date was Friday, June 14th. Altria Group’s dividend payout ratio (DPR) is 82.01%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MO shares. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a report on Friday, June 28th. Bank of America upped their price target on Altria Group from $47.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Barclays upped their price target on Altria Group from $37.00 to $43.00 and gave the stock an “underweight” rating in a report on Wednesday. Argus raised Altria Group to a “hold” rating in a report on Friday, May 31st. Finally, Stifel Nicolaus upped their price target on Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $47.08.

About Altria Group

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.