Concurrent Investment Advisors LLC Buys 15,017 Shares of Altria Group, Inc. $MO

Key Points

• Concurrent Investment Advisors LLC increased its stake in Altria by 12.5% in Q4, buying 15,017 shares to hold 135,366 shares valued at about $7.81 million.
• Altria declared a quarterly dividend of $1.06 (annualized $4.24) with a yield of ~6.3%; the ex-dividend date is March 25 and the payout ratio is 103.16%.
• Altria slightly missed Q4 EPS expectations ($1.30 vs. $1.32) with revenue down 0.5% year-over-year, and analysts have an average rating of "Hold" with a target price of $65.88.

Concurrent Investment Advisors LLC lifted its stake in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 12.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,366 shares of the company's stock after acquiring an additional 15,017 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Altria Group were worth $7,805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. MWA Asset Management grew its stake in Altria Group by 8.9% during the fourth quarter. MWA Asset Management now owns 5,738 shares of the company's stock worth $331,000 after purchasing an additional 470 shares during the period. Rakuten Securities Inc. grew its stake in Altria Group by 188.2% during the fourth quarter. Rakuten Securities Inc. now owns 10,880 shares of the company's stock worth $627,000 after purchasing an additional 7,105 shares during the period. Mowery & Schoenfeld Wealth Management LLC grew its stake in Altria Group by 38.0% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 883 shares of the company's stock worth $51,000 after purchasing an additional 243 shares during the period. N.E.W. Advisory Services LLC grew its stake in Altria Group by 6.5% during the fourth quarter. N.E.W. Advisory Services LLC now owns 7,123 shares of the company's stock worth $411,000 after purchasing an additional 436 shares during the period. Finally, Geneos Wealth Management Inc. grew its stake in Altria Group by 1.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 43,014 shares of the company's stock worth $2,480,000 after purchasing an additional 818 shares during the period. 57.41% of the stock is currently owned by institutional investors.

Altria Group Stock Performance

Shares of Altria Group stock opened at $66.86 on Friday. Altria Group, Inc. has a 52 week low of $54.70 and a 52 week high of $70.51. The stock has a 50 day moving average price of $66.58 and a two-hundred day moving average price of $62.58. The stock has a market capitalization of $111.74 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 2.69 and a beta of 0.41.

Altria Group (NYSE:MO - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The company reported $1.30 EPS for the quarter, missing analysts' consensus estimates of $1.32 by ($0.02). Altria Group had a net margin of 29.84% and a negative return on equity of 287.61%. The firm had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.02 billion. During the same period last year, the business posted $1.30 EPS. The company's revenue was down .5% on a year-over-year basis. Research analysts forecast that Altria Group, Inc. will post 5.61 EPS for the current year.

Altria Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, March 25th will be paid a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date of this dividend is Wednesday, March 25th. Altria Group's dividend payout ratio (DPR) is 103.16%.

Insider Buying and Selling

In other Altria Group news, SVP Charles N. Whitaker sold 27,908 shares of the firm's stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $67.57, for a total value of $1,885,743.56. Following the completion of the sale, the senior vice president owned 180,869 shares of the company's stock, valued at approximately $12,221,318.33. This trade represents a 13.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MO shares. Barclays raised their target price on Altria Group from $57.00 to $63.00 and gave the stock an "underweight" rating in a research note on Monday, February 23rd. Jefferies Financial Group raised their target price on Altria Group from $47.00 to $50.00 and gave the stock an "underperform" rating in a research note on Wednesday, March 4th. Bank of America raised their target price on Altria Group from $72.00 to $73.00 and gave the stock a "buy" rating in a research note on Friday, April 10th. Citigroup raised their target price on Altria Group from $57.00 to $65.00 and gave the stock a "neutral" rating in a research note on Monday, February 9th. Finally, Stifel Nicolaus decreased their target price on Altria Group from $72.00 to $68.00 and set a "buy" rating for the company in a research note on Friday, January 30th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $65.88.

Altria Group Profile

Altria Group, Inc NYSE: MO is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company's operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria's principal operating businesses include Philip Morris USA (cigarettes), U.S.

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