Simplicity Wealth LLC Has $3.50 Million Holdings in Altria Group, Inc. (NYSE:MO)

Simplicity Wealth LLC grew its position in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 152.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,268 shares of the company's stock after acquiring an additional 35,168 shares during the quarter. Simplicity Wealth LLC's holdings in Altria Group were worth $3,497,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MO. Redwood Park Advisors LLC bought a new position in Altria Group in the fourth quarter valued at approximately $26,000. VSM Wealth Advisory LLC bought a new stake in shares of Altria Group during the 4th quarter worth approximately $29,000. Marshall Investment Management LLC acquired a new stake in shares of Altria Group in the 4th quarter valued at approximately $32,000. Promus Capital LLC bought a new position in shares of Altria Group in the fourth quarter valued at $33,000. Finally, Pinney & Scofield Inc. acquired a new position in Altria Group during the fourth quarter worth $33,000. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Barclays lifted their price objective on shares of 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 lifted their price target on Altria Group from $60.00 to $63.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Needham & Company LLC raised Altria Group to a "hold" rating in a research report on Thursday, May 22nd. UBS Group raised their price objective on Altria Group from $46.00 to $47.00 and gave the company a "sell" rating in a research report on Wednesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft set a $60.00 price target on 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.com, Altria Group presently has an average rating of "Hold" and a consensus price target of $56.00.

Altria Group Price Performance

Shares of Altria Group stock traded down $0.49 during midday trading on Tuesday, reaching $58.58. The company had a trading volume of 8,686,236 shares, compared to its average volume of 8,628,125. The stock has a fifty day moving average price of $58.49 and a 200 day moving average price of $56.03. Altria Group, Inc. has a fifty-two week low of $43.83 and a fifty-two week high of $61.26. The firm has a market cap of $98.68 billion, a PE ratio of 8.94, a P/E/G ratio of 2.89 and a beta of 0.60.

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

Altria Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Monday, June 16th will be paid a $1.02 dividend. The ex-dividend date is Monday, June 16th. This represents a $4.08 annualized dividend and a dividend yield of 6.96%. Altria Group's dividend payout ratio is currently 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.