Altria Group, Inc. (NYSE:MO) Shares Purchased by Griffin Asset Management Inc.

Griffin Asset Management Inc. boosted its holdings in Altria Group, Inc. (NYSE:MO - Free Report) by 17.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,485 shares of the company's stock after acquiring an additional 4,455 shares during the period. Griffin Asset Management Inc.'s holdings in Altria Group were worth $1,830,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MO. Redwood Park Advisors LLC bought a new position in Altria Group in the fourth quarter worth about $26,000. VSM Wealth Advisory LLC bought a new position in Altria Group in the fourth quarter worth about $29,000. Marshall Investment Management LLC bought a new position in Altria Group in the fourth quarter worth about $32,000. Promus Capital LLC acquired a new stake in shares of Altria Group in the fourth quarter valued at approximately $33,000. Finally, Pinney & Scofield Inc. acquired a new stake in shares of Altria Group in the fourth quarter valued at approximately $33,000. Institutional investors own 57.41% of the company's stock.

Altria Group Price Performance

Shares of NYSE MO traded down $0.18 during mid-day trading on Friday, reaching $59.74. 10,168,742 shares of the company traded hands, compared to its average volume of 8,637,053. Altria Group, Inc. has a fifty-two week low of $43.92 and a fifty-two week high of $61.26. The firm has a market cap of $100.64 billion, a PE ratio of 9.12, a price-to-earnings-growth ratio of 2.89 and a beta of 0.60. The stock has a fifty day simple moving average of $58.75 and a 200-day simple moving average of $56.10.

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

Altria Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Monday, June 16th will be given a $1.02 dividend. The ex-dividend date is Monday, June 16th. This represents a $4.08 annualized dividend and a yield of 6.83%. Altria Group's dividend payout ratio (DPR) is 68.34%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Needham & Company LLC upgraded shares of Altria Group to a "hold" rating in a research note on Thursday, May 22nd. Wall Street Zen lowered shares of Altria Group from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. 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 note on Friday, April 25th. Stifel Nicolaus raised their price target on shares of Altria Group from $60.00 to $63.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. 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 issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $56.00.

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.