30,000 Shares in Altria Group, Inc. (NYSE:MO) Acquired by Bulltick Wealth Management LLC

Key Points

• Bulltick Wealth Management LLC has acquired 30,000 shares of Altria Group, valued at approximately $1.83 million, indicating renewed interest in the stock.
• Altria's stock has recently been assigned varying ratings by analysts, with the consensus recommendation being a "Hold" and an average price target of $59.13.
• The company announced a quarterly dividend of $1.02 per share, representing an annualized yield of 6.2%, reflecting its commitment to returning value to shareholders.

Bulltick Wealth Management LLC acquired a new stake in Altria Group, Inc. (NYSE:MO - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 30,000 shares of the company's stock, valued at approximately $1,831,000.

A number of other institutional investors have also made changes to their positions in the stock. NorthCrest Asset Manangement LLC boosted its stake in Altria Group by 88.5% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 8,536 shares of the company's stock valued at $512,000 after buying an additional 4,007 shares in the last quarter. Brighton Jones LLC boosted its stake in Altria Group by 64.7% in the fourth quarter. Brighton Jones LLC now owns 17,702 shares of the company's stock worth $926,000 after purchasing an additional 6,954 shares in the last quarter. GAMMA Investing LLC boosted its stake in Altria Group by 17.8% in the first quarter. GAMMA Investing LLC now owns 36,028 shares of the company's stock worth $2,162,000 after purchasing an additional 5,440 shares in the last quarter. Patron Partners LLC boosted its stake in Altria Group by 12.2% in the first quarter. Patron Partners LLC now owns 12,217 shares of the company's stock worth $733,000 after purchasing an additional 1,325 shares in the last quarter. Finally, Simplicity Wealth LLC boosted its stake in Altria Group by 152.2% in the first quarter. Simplicity Wealth LLC now owns 58,268 shares of the company's stock worth $3,497,000 after purchasing an additional 35,168 shares in the last quarter. 57.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on MO shares. Needham & Company LLC raised Altria Group to a "hold" rating in a research note on Thursday, May 22nd. Wall Street Zen downgraded Altria Group from a "buy" rating to a "hold" rating in a report on Thursday, May 1st. Jefferies Financial Group initiated coverage on Altria Group in a research note on Wednesday, July 9th. They issued an "underperform" rating and a $50.00 target price for the company. Citigroup boosted their target price on Altria Group from $52.00 to $55.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. Finally, UBS Group raised Altria Group from a "sell" rating to a "neutral" rating and boosted their target price for the company from $47.00 to $59.00 in a research note on Wednesday, July 2nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Altria Group presently has a consensus rating of "Hold" and an average price target of $59.13.

Altria Group Stock Up 0.4%

Shares of MO stock traded up $0.27 during trading hours on Friday, reaching $65.82. The company's stock had a trading volume of 10,012,419 shares, compared to its average volume of 9,190,167. The firm's 50 day simple moving average is $60.18 and its 200-day simple moving average is $58.17. The company has a market capitalization of $110.57 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 3.52 and a beta of 0.59. Altria Group, Inc. has a fifty-two week low of $48.86 and a fifty-two week high of $66.29.

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

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.