Cyndeo Wealth Partners LLC Purchases 8,157 Shares of Altria Group, Inc. (NYSE:MO)

Cyndeo Wealth Partners LLC raised its holdings in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 4.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 185,191 shares of the company's stock after purchasing an additional 8,157 shares during the period. Cyndeo Wealth Partners LLC's holdings in Altria Group were worth $11,115,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of MO. Charles Schwab Investment Management Inc. boosted its stake in Altria Group by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 59,805,286 shares of the company's stock valued at $3,127,218,000 after acquiring an additional 2,296,972 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Altria Group by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 41,938,507 shares of the company's stock valued at $2,193,687,000 after purchasing an additional 1,134,748 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Altria Group by 0.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 22,273,491 shares of the company's stock valued at $1,164,681,000 after purchasing an additional 76,004 shares during the period. Northern Trust Corp boosted its position in shares of Altria Group by 9.6% in the 4th quarter. Northern Trust Corp now owns 16,432,535 shares of the company's stock worth $859,257,000 after purchasing an additional 1,444,021 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Altria Group by 9.1% during the fourth quarter. Invesco Ltd. now owns 11,801,958 shares of the company's stock worth $617,124,000 after purchasing an additional 983,328 shares during the period. Institutional investors own 57.41% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on MO. UBS Group upped their price objective on Altria Group from $46.00 to $47.00 and gave the company a "sell" rating in a report on Wednesday, April 30th. Barclays boosted their target price on Altria Group from $46.00 to $49.00 and gave the stock an "underweight" rating in a research report on Friday, May 2nd. Needham & Company LLC upgraded shares of Altria Group to a "hold" rating in a research report on Thursday, May 22nd. Citigroup lifted their price objective on shares of Altria Group from $52.00 to $55.00 and gave the stock a "neutral" rating in a research note on Friday, April 25th. Finally, Deutsche Bank Aktiengesellschaft set a $60.00 target price on shares of Altria Group in a research note on Tuesday, April 1st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $56.00.

Altria Group Stock Down 1.7%

Shares of MO traded down $1.04 on Monday, hitting $58.77. The company's stock had a trading volume of 10,533,672 shares, compared to its average volume of 8,644,633. The firm's fifty day moving average price is $58.75 and its 200-day moving average price is $56.09. 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 capitalization of $99.00 billion, a price-to-earnings ratio of 8.97, a P/E/G ratio of 2.89 and a beta of 0.60.

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

Altria Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Monday, June 16th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 6.94%. The ex-dividend date of this dividend is Monday, June 16th. Altria Group's dividend payout ratio (DPR) is presently 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.