Concurrent Investment Advisors LLC Has $6.86 Million Stock Holdings in Altria Group, Inc. (NYSE:MO)

Concurrent Investment Advisors LLC boosted its position in Altria Group, Inc. (NYSE:MO - Free Report) by 31.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 114,212 shares of the company's stock after buying an additional 27,270 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Altria Group were worth $6,855,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. NorthCrest Asset Manangement LLC increased its stake in shares of Altria Group by 88.5% in the first quarter. NorthCrest Asset Manangement LLC now owns 8,536 shares of the company's stock worth $512,000 after purchasing an additional 4,007 shares during the period. Brighton Jones LLC grew its holdings in Altria Group by 64.7% in the 4th quarter. Brighton Jones LLC now owns 17,702 shares of the company's stock valued at $926,000 after buying an additional 6,954 shares during the last quarter. GAMMA Investing LLC grew its holdings in Altria Group by 17.8% in the 1st quarter. GAMMA Investing LLC now owns 36,028 shares of the company's stock valued at $2,162,000 after buying an additional 5,440 shares during the last quarter. Blueprint Investment Partners LLC increased its position in Altria Group by 115.5% in the 4th quarter. Blueprint Investment Partners LLC now owns 13,115 shares of the company's stock worth $686,000 after buying an additional 7,030 shares during the period. Finally, Patron Partners LLC lifted its holdings in shares of Altria Group by 12.2% during the first quarter. Patron Partners LLC now owns 12,217 shares of the company's stock worth $733,000 after buying an additional 1,325 shares during the last quarter. Institutional investors own 57.41% of the company's stock.

Altria Group Stock Up 0.8%

Altria Group stock traded up $0.45 on Friday, hitting $59.62. The company's stock had a trading volume of 4,776,064 shares, compared to its average volume of 8,581,112. Altria Group, Inc. has a one year low of $45.87 and a one year high of $61.26. The firm has a market cap of $100.43 billion, a P/E ratio of 9.99, a price-to-earnings-growth ratio of 3.49 and a beta of 0.59. The company has a fifty day moving average price of $59.28 and a 200-day moving average price of $56.45.

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

Altria Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Monday, June 16th will be issued a $1.02 dividend. The ex-dividend date is Monday, June 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 6.84%. Altria Group's payout ratio is presently 68.34%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MO. Wall Street Zen downgraded shares of Altria Group from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. UBS Group raised shares of Altria Group from a "sell" rating to a "neutral" rating and increased their price target for the company from $47.00 to $59.00 in a report on Wednesday. Barclays boosted their price objective on shares of Altria Group from $46.00 to $49.00 and gave the stock an "underweight" rating in a report on Friday, May 2nd. Stifel Nicolaus upped their price objective on shares of Altria Group from $60.00 to $63.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft set a $60.00 target price on shares of Altria Group in a research note on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $57.71.

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.