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

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

Other hedge funds and other institutional investors have also bought and sold shares of the company. Redwood Park Advisors LLC acquired a new stake in Altria Group in the 4th quarter valued at about $26,000. VSM Wealth Advisory LLC bought a new stake in shares of Altria Group in the fourth quarter worth $29,000. Inlight Wealth Management LLC bought a new stake in Altria Group during the first quarter worth $31,000. Sierra Ocean LLC raised its position in Altria Group by 226.3% during the first quarter. Sierra Ocean LLC now owns 509 shares of the company's stock worth $31,000 after acquiring an additional 353 shares in the last quarter. Finally, Pinney & Scofield Inc. bought a new position in shares of Altria Group in the fourth quarter valued at about $33,000. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft set a $60.00 price target on shares of Altria Group in a research note on Tuesday, April 1st. UBS Group upgraded shares of Altria Group from a "sell" rating to a "neutral" rating and raised their price objective for the company from $47.00 to $59.00 in a report on Wednesday, July 2nd. Citigroup raised their price target on shares of Altria Group from $52.00 to $55.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. Barclays raised their price target 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. Finally, Wall Street Zen downgraded shares of Altria Group from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $57.71.

Altria Group Price Performance

MO opened at $59.51 on Wednesday. The company has a market capitalization of $100.24 billion, a price-to-earnings ratio of 9.97, a P/E/G ratio of 3.53 and a beta of 0.59. The firm's fifty day moving average price is $59.33 and its two-hundred day moving average price is $56.54. Altria Group, Inc. has a 1 year low of $46.02 and a 1 year high of $61.26.

Altria Group (NYSE:MO - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $1.23 EPS for the quarter, topping analysts' consensus estimates of $1.19 by $0.04. The company had revenue of $4.52 billion for the quarter, compared to analysts' expectations of $4.64 billion. Altria Group had a negative return on equity of 295.44% and a net margin of 43.09%. The business's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.15 EPS. As a group, equities analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current 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. This represents a $4.08 dividend on an annualized basis and a yield of 6.86%. The ex-dividend date of this dividend is Monday, June 16th. Altria Group's dividend payout ratio is currently 68.34%.

Altria Group 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.

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