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Envestnet Asset Management Inc. Purchases 284,520 Shares of Altria Group, Inc. (NYSE:MO)

Altria Group logo with Consumer Staples background

Envestnet Asset Management Inc. boosted its stake in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 7.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,885,945 shares of the company's stock after buying an additional 284,520 shares during the period. Envestnet Asset Management Inc. owned approximately 0.23% of Altria Group worth $233,234,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. NorthCrest Asset Manangement LLC grew its stake in shares of Altria Group by 88.5% in the first quarter. NorthCrest Asset Manangement LLC now owns 8,536 shares of the company's stock worth $512,000 after acquiring an additional 4,007 shares during the period. Brighton Jones LLC boosted its holdings in Altria Group by 64.7% in the fourth quarter. Brighton Jones LLC now owns 17,702 shares of the company's stock worth $926,000 after purchasing an additional 6,954 shares during the last quarter. GAMMA Investing LLC grew its position in Altria Group by 17.8% in the 1st quarter. GAMMA Investing LLC now owns 36,028 shares of the company's stock worth $2,162,000 after purchasing an additional 5,440 shares during the period. Blueprint Investment Partners LLC raised its stake in Altria Group by 115.5% during the 4th quarter. Blueprint Investment Partners LLC now owns 13,115 shares of the company's stock valued at $686,000 after buying an additional 7,030 shares during the last quarter. Finally, Patron Partners LLC raised its stake in Altria Group by 12.2% during the 1st quarter. Patron Partners LLC now owns 12,217 shares of the company's stock valued at $733,000 after buying an additional 1,325 shares during the last quarter. Hedge funds and other institutional investors own 57.41% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Citigroup lifted their price objective on Altria Group from $52.00 to $55.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. Wall Street Zen cut Altria Group from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Stifel Nicolaus boosted their price target on Altria Group from $60.00 to $63.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Needham & Company LLC raised shares of Altria Group to a "hold" rating in a research report on Thursday, May 22nd. Finally, Barclays raised their price objective on shares of Altria Group from $46.00 to $49.00 and gave the stock an "underweight" rating in a report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Altria Group currently has an average rating of "Hold" and an average price target of $56.75.

Get Our Latest Research Report on MO

Altria Group Price Performance

Shares of NYSE MO traded down $1.90 during midday trading on Wednesday, reaching $57.64. 22,196,231 shares of the stock traded hands, compared to its average volume of 8,641,051. The company's 50 day moving average is $59.33 and its 200 day moving average is $56.54. Altria Group, Inc. has a one year low of $46.02 and a one year high of $61.26. The stock has a market capitalization of $97.09 billion, a PE ratio of 9.65, a P/E/G ratio of 3.53 and a beta of 0.59.

Altria Group (NYSE:MO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $1.23 EPS for the quarter, topping analysts' consensus estimates of $1.19 by $0.04. Altria Group had a net margin of 43.09% and a negative return on equity of 295.44%. The business had revenue of $4.52 billion during the quarter, compared to analysts' expectations of $4.64 billion. During the same period last year, the company posted $1.15 EPS. The business's revenue was down 4.2% on a year-over-year basis. As a group, equities 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. This represents a $4.08 annualized dividend and a dividend yield of 7.08%. The ex-dividend date of this dividend is Monday, June 16th. Altria Group's payout ratio is 68.34%.

About Altria Group

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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