Avaii Wealth Management LLC Acquires 4,248 Shares of Altria Group, Inc. (NYSE:MO)

Avaii Wealth Management LLC lifted its holdings in Altria Group, Inc. (NYSE:MO - Free Report) by 74.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,981 shares of the company's stock after acquiring an additional 4,248 shares during the period. Avaii Wealth Management LLC's holdings in Altria Group were worth $599,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in MO. Truvestments Capital LLC increased its holdings in Altria Group by 4.3% during the 4th quarter. Truvestments Capital LLC now owns 4,581 shares of the company's stock worth $240,000 after purchasing an additional 190 shares in the last quarter. Enterprise Financial Services Corp increased its holdings in Altria Group by 4.0% during the 4th quarter. Enterprise Financial Services Corp now owns 5,052 shares of the company's stock worth $264,000 after purchasing an additional 194 shares in the last quarter. Fragasso Financial Advisors Inc increased its holdings in Altria Group by 3.1% during the 1st quarter. Fragasso Financial Advisors Inc now owns 6,499 shares of the company's stock worth $390,000 after purchasing an additional 197 shares in the last quarter. Skyline Advisors Inc. increased its holdings in Altria Group by 2.2% during the 1st quarter. Skyline Advisors Inc. now owns 9,255 shares of the company's stock worth $555,000 after purchasing an additional 200 shares in the last quarter. Finally, Fiduciary Group LLC increased its holdings in Altria Group by 1.5% during the 4th quarter. Fiduciary Group LLC now owns 13,778 shares of the company's stock worth $720,000 after purchasing an additional 203 shares in the last quarter. 57.41% of the stock is owned by institutional investors.

Altria Group Stock Down 0.3%

Altria Group stock traded down $0.18 during trading on Friday, hitting $59.74. The stock had a trading volume of 10,168,742 shares, compared to its average volume of 8,645,111. Altria Group, Inc. has a 1 year low of $43.83 and a 1 year high of $61.26. The stock's 50 day moving average is $58.75 and its two-hundred day moving average is $56.11. The stock has a market cap of $100.64 billion, a price-to-earnings ratio of 9.12, a price-to-earnings-growth ratio of 2.89 and a beta of 0.60.

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 the consensus estimate of $1.19 by $0.04. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. The business had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the prior year, the business earned $1.15 earnings per share. Altria Group's revenue for the quarter was down 4.2% on a year-over-year basis. As a group, equities research analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Monday, June 16th will be paid a $1.02 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.08 annualized dividend and a yield of 6.83%. Altria Group's payout ratio is 68.34%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on Altria Group in a report on Tuesday, April 1st. Needham & Company LLC upgraded Altria Group to a "hold" rating in a research note on Thursday, May 22nd. Wall Street Zen downgraded Altria Group from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. Stifel Nicolaus boosted their target price on Altria Group from $60.00 to $63.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Finally, Citigroup boosted their target price on Altria Group from $52.00 to $55.00 and gave the stock a "neutral" rating in a research note on Friday, April 25th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $56.00.

About Altria Group

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.