Accuvest Global Advisors Buys Shares of 6,116 Altria Group, Inc. (NYSE:MO)

Key Points

• Accuvest Global Advisors has invested approximately $367,000 in Altria Group, acquiring 6,116 shares during the first quarter.
• Altria Group recently reported an earnings per share (EPS) of $1.44 for the quarter, exceeding analyst expectations of $1.37, with revenue of $5.29 billion, surpassing forecasts of $5.21 billion.
• The company announced a quarterly dividend of $1.02, yielding 6.5% annually, with a current dividend payout ratio of 78.92%.

Accuvest Global Advisors bought a new position in Altria Group, Inc. (NYSE:MO - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,116 shares of the company's stock, valued at approximately $367,000.

A number of other institutional investors have also modified their holdings of MO. Vanguard Group Inc. lifted its stake in Altria Group by 0.8% during the first quarter. Vanguard Group Inc. now owns 158,117,225 shares of the company's stock worth $9,490,196,000 after purchasing an additional 1,300,787 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Altria Group by 5.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 63,288,773 shares of the company's stock worth $3,798,592,000 after purchasing an additional 3,483,487 shares during the last quarter. Northern Trust Corp lifted its stake in Altria Group by 9.6% during the fourth quarter. Northern Trust Corp now owns 16,432,535 shares of the company's stock worth $859,257,000 after purchasing an additional 1,444,021 shares during the last quarter. Royal Bank of Canada increased its position in Altria Group by 17.4% in the fourth quarter. Royal Bank of Canada now owns 8,927,340 shares of the company's stock worth $466,811,000 after buying an additional 1,323,421 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Altria Group by 14.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,569,122 shares of the company's stock worth $343,499,000 after buying an additional 805,558 shares during the period. Institutional investors and hedge funds own 57.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Barclays increased their target price on Altria Group from $49.00 to $57.00 and gave the stock an "underweight" rating in a research report on Wednesday. Needham & Company LLC raised Altria Group to a "hold" rating in a research report on Thursday, May 22nd. Citigroup increased their target price on Altria Group from $52.00 to $55.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. Wall Street Zen lowered Altria Group from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Finally, Stifel Nicolaus increased their target price on Altria Group from $63.00 to $65.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $59.13.

Altria Group Trading Up 1.0%

Shares of NYSE MO traded up $0.66 during midday trading on Friday, reaching $64.21. The company's stock had a trading volume of 5,433,128 shares, compared to its average volume of 8,586,698. The company has a 50 day moving average price of $59.72 and a 200 day moving average price of $57.78. Altria Group, Inc. has a one year low of $48.86 and a one year high of $64.35. The company has a market cap of $107.87 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 3.42 and a beta of 0.59.

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

Altria Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Monday, June 16th were issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 6.4%. The ex-dividend date was Monday, June 16th. Altria Group's payout ratio is currently 78.92%.

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.