Aegis Wealth Management LLC Acquires New Stake in Altria Group, Inc. (NYSE:MO)

Aegis Wealth Management LLC purchased a new stake in Altria Group, Inc. (NYSE:MO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 6,420 shares of the company's stock, valued at approximately $336,000.

Several other institutional investors have also recently added to or reduced their stakes in MO. Financial Life Planners acquired a new stake in shares of Altria Group in the 4th quarter valued at about $25,000. Redwood Park Advisors LLC bought a new position in Altria Group in the fourth quarter worth approximately $26,000. VSM Wealth Advisory LLC acquired a new stake in Altria Group in the fourth quarter valued at approximately $29,000. Marshall Investment Management LLC bought a new stake in shares of Altria Group during the fourth quarter valued at approximately $32,000. Finally, Promus Capital LLC acquired a new position in shares of Altria Group during the fourth quarter worth approximately $33,000. 57.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MO has been the subject of a number of recent research reports. Citigroup boosted their price target on shares of Altria Group from $52.00 to $55.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. Needham & Company LLC upgraded shares of Altria Group to a "hold" rating in a report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft set a $60.00 target price on shares of Altria Group in a research report on Tuesday, April 1st. Morgan Stanley lowered their target price on shares of Altria Group from $54.00 to $53.00 and set an "equal weight" rating on the stock in a report on Friday, January 31st. Finally, Stifel Nicolaus lifted their price target on Altria Group from $60.00 to $63.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $56.00.

Altria Group Stock Up 1.5%

Altria Group stock traded up $0.91 during midday trading on Friday, hitting $60.39. 12,759,000 shares of the stock were exchanged, compared to its average volume of 8,669,001. Altria Group, Inc. has a 52-week low of $43.83 and a 52-week high of $61.26. The business's 50-day moving average price is $58.27 and its 200-day moving average price is $55.84. The stock has a market capitalization of $101.72 billion, a price-to-earnings ratio of 9.22, a price-to-earnings-growth ratio of 2.89 and a beta of 0.60.

Altria Group (NYSE:MO - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.23 EPS for the quarter, topping analysts' consensus estimates of $1.19 by $0.04. The business had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.64 billion. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. Altria Group's quarterly revenue was down 4.2% compared to the same quarter last year. During the same period last year, the company posted $1.15 earnings per share. On average, sell-side analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Monday, June 16th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.08 annualized dividend and a yield of 6.76%. Altria Group's payout ratio is currently 68.34%.

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.