Alpine Bank Wealth Management Buys Shares of 5,356 Altria Group, Inc. (NYSE:MO)

Alpine Bank Wealth Management bought a new stake in Altria Group, Inc. (NYSE:MO - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,356 shares of the company's stock, valued at approximately $321,000.

A number of other large investors also recently bought and sold shares of MO. Redwood Park Advisors LLC purchased a new stake in Altria Group during the fourth quarter worth about $26,000. VSM Wealth Advisory LLC purchased a new stake in Altria Group during the fourth quarter worth about $29,000. Inlight Wealth Management LLC purchased a new stake in Altria Group during the first quarter worth about $31,000. Promus Capital LLC purchased a new stake in Altria Group during the fourth quarter worth about $33,000. Finally, Pinney & Scofield Inc. purchased a new stake in Altria Group during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 57.41% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on MO shares. Wall Street Zen lowered shares of Altria Group from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. Barclays boosted their price target on shares of Altria Group from $46.00 to $49.00 and gave the stock an "underweight" rating in a research note on Friday, May 2nd. UBS Group boosted their price target on shares of Altria Group from $46.00 to $47.00 and gave the stock a "sell" rating in a research note on Wednesday, April 30th. Needham & Company LLC upgraded shares of Altria Group to a "hold" rating in a research note on Thursday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft set a $60.00 price target on shares of Altria Group in a research note on Tuesday, April 1st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $56.00.

Altria Group Stock Down 0.9%

Shares of Altria Group stock opened at $59.96 on Wednesday. The firm has a market capitalization of $101.00 billion, a P/E ratio of 10.04, a P/E/G ratio of 3.54 and a beta of 0.61. Altria Group, Inc. has a 52 week low of $45.17 and a 52 week high of $61.26. The firm's 50 day moving average is $59.15 and its two-hundred day moving average is $56.22.

Altria Group (NYSE:MO - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.19 by $0.04. The company had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.64 billion. Altria Group had a net margin of 43.09% and a negative return on equity of 295.44%. The firm's revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.15 earnings per share. As a group, research analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Monday, June 16th will be paid a $1.02 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.08 annualized dividend and a yield of 6.80%. Altria Group's dividend 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.

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