Altria Group, Inc. (NYSE:MO) Shares Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC increased its holdings in Altria Group, Inc. (NYSE:MO - Free Report) by 31.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Redwood Park Advisors LLC acquired a new position in Altria Group in the 4th quarter worth approximately $26,000. VSM Wealth Advisory LLC purchased a new stake in Altria Group in the 4th quarter worth approximately $29,000. Inlight Wealth Management LLC purchased a new stake in Altria Group in the 1st quarter worth approximately $31,000. Pinney & Scofield Inc. purchased a new stake in Altria Group in the 4th quarter worth approximately $33,000. Finally, CBIZ Investment Advisory Services LLC boosted its position in Altria Group by 895.7% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 697 shares of the company's stock worth $36,000 after purchasing an additional 627 shares in the last quarter. Institutional investors and hedge funds own 57.41% of the company's stock.

Wall Street Analyst Weigh In

MO has been the topic of several recent research reports. UBS Group upgraded Altria Group from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $47.00 to $59.00 in a research report on Wednesday, July 2nd. Barclays upped their price objective on Altria Group from $46.00 to $49.00 and gave the stock an "underweight" rating in a research report on Friday, May 2nd. Stifel Nicolaus increased their target price on Altria Group from $60.00 to $63.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft set a $60.00 target price on Altria Group in a research report on Tuesday, April 1st. Finally, Citigroup increased their target price on Altria Group from $52.00 to $55.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Altria Group has an average rating of "Hold" and an average price target of $57.71.

Altria Group Stock Performance

Shares of NYSE:MO traded up $0.58 during midday trading on Monday, reaching $60.23. 7,375,416 shares of the company's stock traded hands, compared to its average volume of 8,576,291. The company has a fifty day simple moving average of $59.28 and a two-hundred day simple moving average of $56.47. The company has a market cap of $101.45 billion, a P/E ratio of 10.09, a PEG ratio of 3.49 and a beta of 0.59. Altria Group, Inc. has a 1 year low of $45.87 and a 1 year high of $61.26.

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

Altria Group Announces Dividend

The business also recently announced 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. This represents a $4.08 dividend on an annualized basis and a dividend yield of 6.77%. The ex-dividend date of this dividend is Monday, June 16th. Altria Group's dividend payout ratio (DPR) is presently 68.34%.

Altria Group Company 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.