As of the second quarter of this fiscal year, Atlantic Union Bankshares Corp has significantly increased its position in Altria Group, Inc., a leading corporation in the tobacco industry. According to a recent 13F filing with the Securities and Exchange Commission (SEC), Atlantic Union Bankshares Corp now owns 40,334 shares of Altria Group’s stock, marking an 86.6% increase from the previous quarter. This addition of 18,718 shares brings the total worth of Atlantic Union Bankshares Corp’s holdings in Altria Group to approximately $1,827,000.
Altria Group recently released its quarterly earnings data on August 1st. The company reported earnings per share (EPS) of $1.31 for the quarter, which aligns with the consensus estimate set by analysts. During this period, their revenue amounted to $5.44 billion, slightly surpassing analysts’ expectations of $5.43 billion. It is worth noting that Altria Group experienced a net margin of 27.40% and a negative return on equity of 225.61%. In comparison to the same period last year, the business witnessed a modest increase of 1.2% in revenue while posting earnings per share of $1.26.
Analysts predict that for the current fiscal year, Altria Group will report earnings per share equating to 5 units on average. This projection takes into consideration various factors impacting the company’s performance within the tobacco industry and broader market conditions.
It is important to note that these reports provide valuable insights into Altria Group’s financial standing and highlight significant developments within this sector. Investors and industry observers must factor in these findings when making strategic decisions or analyzing trends within the market.
These updates serve as crucial tools for understanding where Altria Group stands among competitors and how it may fare moving forward given changing dynamics within the industry. While this report offers a snapshot of the company’s recent progress, it is essential to stay informed through additional research and analysis to obtain a comprehensive understanding of Altria Group’s operations.
Anyone interested in further exploring Altria Group’s financials and earnings performance can refer to our latest report on the company. By keeping abreast of these updates, individuals can make informed decisions that align with their investment goals and objectives.
PowerSchool Holdings, Inc.
PWSC
Buy
Updated on: 19/09/2023
Financial Health
Healthy
Debt to equity ratio: Buy
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Institutional Investors Increase Stakes in Altria Group as Stock Shows Stability and Promising Dividend Yield
Institutional investors have been making moves regarding their stakes in Altria Group, a well-known company in the market. Moneta Group Investment Advisors LLC saw significant growth in its position, increasing it by an astounding 108,222.5% during the last quarter. This rise resulted in Moneta Group Investment Advisors LLC now owning 18,590,308 shares of Altria Group’s stock valued at $849,763,000.
Another institutional investor that experienced growth was Charles Schwab Investment Management Inc., who saw an 8.7% increase in their position during the fourth quarter. They now own 44,066,327 shares of the company’s stock valued at $2,000,861,000.
FMR LLC also joined the list of institutional investors who grew their positions in Altria Group. Their position increased by 8.3% during the first quarter, resulting in them owning 25,132,929 shares valued at $1,121,431,000.
Morgan Stanley also added to its stake by 9.8% during the last quarter. Their current ownership stands at 17,105,285 shares with a value of $781,8830.
Lastly on this list is Renaissance Technologies LLC whose position grew by an impressive 64.1% during the first quarter alone. They currently hold 3,771,516 shares valued at $197,o62,o00.
It is worth noting that institutional investors and hedge funds make up for a substantial portion of Altria Group’s stock ownership with a stake of approximately 58.94%.
Altria Group’s stock opened on Tuesday with a price per share of $43.35. The firm’s performance has shown stability as it maintains a fifty-day simple moving average of $44.38 and a two-hundred-day simple moving average of $45.o4.
The company holds a market capitalization of $76.93 billion and boasts a price-to-earnings ratio of 11.38, indicating an attractive valuation relative to the market. The price-to-earnings-growth ratio stands at 2.32, suggesting that investors may anticipate future growth opportunities.
The stock’s beta of 0.59 implies that it is less volatile than the overall market, which adds a level of stability and security to investors’ portfolios.
Altria Group announced recently that it will be paying out a quarterly dividend on October 10th. Shareholders who held shares as of September 15th will be eligible for the dividend payment of $0.98 per share. This represents an increase from their previous quarterly dividend of $0.94 and equates to an annualized dividend of $3.92 per share, resulting in an impressive dividend yield of 9.o4%.
It is worth noting that Altria Group’s dividend payout ratio (DPR) currently stands at 102.89%. This high figure indicates that the company has been paying out more in dividends than its earnings can support.
Analysts have expressed their opinions on Altria Group’s stock recently as well. Jefferies Financial Group lowered their price objective on the shares from $56.o0 to $55.o0 but still maintained a “buy” rating for the company in a research report issued on August 22nd.
Meanwhile, StockNews.com initiated coverage on Altria Group with a “buy” rating in their own research report published on August 17th.
The overall average rating for Altria Group according to data from Bloomberg is “Hold,” with an average consensus price target of $47.so.
In conclusion, institutional investors have made significant moves in regards to their stakes in Altria Group, adding substantial value to their portfolios by increasing their positions significantly during recent quarters. The company’s stock performance has shown stability, and it offers an attractive valuation and dividend yield to investors. However, analysts’ opinions on the stock remain mixed, with some maintaining a positive outlook while others are more cautious.
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