Concurrent Investment Advisors LLC Raises Stock Position in Altria Group, Inc. (NYSE:MO)

Concurrent Investment Advisors LLC increased its holdings in Altria Group, Inc. (NYSE:MO - Free Report) by 31.4% during the first quarter, according to the company in its most recent disclosure 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.

Other large investors also recently added to or reduced their stakes in the company. Vista Investment Partners II LLC boosted its position in Altria Group by 4.2% in the first quarter. Vista Investment Partners II LLC now owns 4,302 shares of the company's stock valued at $258,000 after buying an additional 174 shares during the last quarter. St. Johns Investment Management Company LLC lifted its stake in Altria Group by 37.8% during the 1st quarter. St. Johns Investment Management Company LLC now owns 689 shares of the company's stock valued at $41,000 after acquiring an additional 189 shares during the period. Truvestments Capital LLC boosted its holdings in shares of Altria Group by 4.3% in the 4th quarter. Truvestments Capital LLC now owns 4,581 shares of the company's stock valued at $240,000 after acquiring an additional 190 shares during the last quarter. Enterprise Financial Services Corp increased its stake in shares of Altria Group by 4.0% in the fourth quarter. Enterprise Financial Services Corp now owns 5,052 shares of the company's stock worth $264,000 after acquiring an additional 194 shares during the period. Finally, Fragasso Financial Advisors Inc raised its holdings in shares of Altria Group by 3.1% during the first quarter. Fragasso Financial Advisors Inc now owns 6,499 shares of the company's stock worth $390,000 after purchasing an additional 197 shares during the last quarter. 57.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. UBS Group raised Altria Group from a "sell" rating to a "neutral" rating and increased their price target for the stock from $47.00 to $59.00 in a research report on Wednesday, July 2nd. Barclays lifted their price target on Altria Group from $46.00 to $49.00 and gave the company an "underweight" rating in a research report on Friday, May 2nd. Stifel Nicolaus upped their price objective on Altria Group from $60.00 to $63.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft set a $60.00 target price on shares of Altria Group in a report on Tuesday, April 1st. Finally, Citigroup raised their price target on shares of Altria Group from $52.00 to $55.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Altria Group currently has a consensus rating of "Hold" and a consensus target price of $57.71.

Altria Group Price Performance

NYSE MO traded up $0.14 during mid-day trading on Monday, hitting $59.79. The stock had a trading volume of 1,886,273 shares, compared to its average volume of 9,121,474. Altria Group, Inc. has a twelve month low of $45.87 and a twelve month high of $61.26. The firm's 50 day moving average is $59.28 and its 200 day moving average is $56.47. The stock has a market capitalization of $100.72 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 3.49 and a beta of 0.59.

Altria Group (NYSE:MO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $1.23 earnings per share for the quarter, topping 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 firm had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period last year, the firm posted $1.15 earnings per share. The company's revenue for the quarter was down 4.2% on a year-over-year basis. As a group, equities research analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Announces Dividend

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 issued a $1.02 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.08 annualized dividend and a dividend yield of 6.82%. Altria Group's dividend payout ratio is presently 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.