SYSTM Wealth Solutions LLC Has $4.77 Million Position in Altria Group, Inc. (NYSE:MO)

SYSTM Wealth Solutions LLC cut its holdings in Altria Group, Inc. (NYSE:MO) by 6.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,699 shares of the company’s stock after selling 6,835 shares during the quarter. Altria Group comprises approximately 1.1% of SYSTM Wealth Solutions LLC’s holdings, making the stock its 28th largest position. SYSTM Wealth Solutions LLC’s holdings in Altria Group were worth $4,765,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Scarborough Advisors LLC grew its holdings in Altria Group by 18.5% during the 2nd quarter. Scarborough Advisors LLC now owns 1,283 shares of the company’s stock worth $58,000 after acquiring an additional 200 shares during the last quarter. SP Asset Management LLC grew its holdings in Altria Group by 2.5% during the 2nd quarter. SP Asset Management LLC now owns 8,211 shares of the company’s stock worth $374,000 after acquiring an additional 204 shares during the last quarter. Certuity LLC grew its holdings in Altria Group by 1.6% during the 2nd quarter. Certuity LLC now owns 13,664 shares of the company’s stock worth $622,000 after acquiring an additional 213 shares during the last quarter. Catalyst Financial Partners LLC grew its holdings in Altria Group by 2.0% during the 2nd quarter. Catalyst Financial Partners LLC now owns 11,269 shares of the company’s stock worth $513,000 after acquiring an additional 217 shares during the last quarter. Finally, Conning Inc. grew its holdings in Altria Group by 2.3% during the 2nd quarter. Conning Inc. now owns 9,794 shares of the company’s stock worth $446,000 after acquiring an additional 219 shares during the last quarter. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Altria Group Price Performance

Shares of NYSE:MO opened at $50.50 on Wednesday. The company has a market capitalization of $86.74 billion, a price-to-earnings ratio of 10.56, a P/E/G ratio of 3.07 and a beta of 0.65. The firm’s 50 day simple moving average is $51.08 and its 200 day simple moving average is $46.64. Altria Group, Inc. has a fifty-two week low of $39.06 and a fifty-two week high of $54.95.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). The firm had revenue of $6.21 billion during the quarter, compared to analyst estimates of $5.39 billion. Altria Group had a net margin of 42.25% and a negative return on equity of 232.55%. The business’s revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.31 earnings per share. Equities research analysts expect that Altria Group, Inc. will post 5.11 earnings per share for the current year.

Altria Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Monday, September 16th will be issued a dividend of $1.02 per share. 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 8.08%. The ex-dividend date of this dividend is Monday, September 16th. Altria Group’s dividend payout ratio (DPR) is 85.36%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Bank of America increased their price objective on shares of Altria Group from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a research note on Friday, June 28th. Stifel Nicolaus raised their target price on shares of Altria Group from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. UBS Group raised their target price on shares of Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a research note on Monday, September 9th. Finally, Argus raised shares of Altria Group to a “hold” rating in a research note on Friday, May 31st. Two investment 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $49.67.

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.