40,783 Shares in Altria Group, Inc. (NYSE:MO) Purchased by Cary Street Partners Financial LLC

Cary Street Partners Financial LLC acquired a new position in shares of Altria Group, Inc. (NYSE:MO - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 40,783 shares of the company's stock, valued at approximately $2,133,000.

Other hedge funds have also added to or reduced their stakes in the company. Financial Life Planners bought a new stake in shares of Altria Group in the 4th quarter worth approximately $25,000. Redwood Park Advisors LLC bought a new stake in shares of Altria Group in the fourth quarter valued at $26,000. VSM Wealth Advisory LLC purchased a new position in shares of Altria Group during the 4th quarter valued at $29,000. Marshall Investment Management LLC bought a new position in shares of Altria Group during the 4th quarter worth $32,000. Finally, Promus Capital LLC purchased a new stake in Altria Group in the 4th quarter worth about $33,000. Institutional investors own 57.41% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on MO shares. Stifel Nicolaus increased their target price on shares of Altria Group from $60.00 to $63.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. UBS Group raised their price objective on shares of Altria Group from $46.00 to $47.00 and gave the stock a "sell" rating in a report on Wednesday, April 30th. Barclays boosted their target price on shares of Altria Group from $46.00 to $49.00 and gave the company an "underweight" rating in a report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft set a $60.00 price target on Altria Group in a report on Tuesday, April 1st. Finally, Morgan Stanley decreased their price objective on Altria Group from $54.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Friday, January 31st. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $56.00.

Altria Group Stock Up 1.1 %

Shares of NYSE MO opened at $60.51 on Wednesday. The firm has a market capitalization of $101.93 billion, a P/E ratio of 9.24, a P/E/G ratio of 2.89 and a beta of 0.60. The stock's 50-day simple moving average is $57.82 and its two-hundred day simple moving average is $55.03. Altria Group, Inc. has a twelve month low of $43.58 and a twelve month high of $60.63.

Altria Group (NYSE:MO - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $1.23 EPS for the quarter, beating analysts' consensus estimates of $1.19 by $0.04. The business had revenue of $4.52 billion for the quarter, compared to analysts' expectations of $4.64 billion. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. The firm's revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.15 earnings per share. As a group, research analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, March 25th were given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 6.74%. The ex-dividend date of this dividend was Tuesday, March 25th. Altria Group's payout ratio is currently 68.34%.

Altria Group Company 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.

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