Golden State Wealth Management LLC Acquires 7,278 Shares of Altria Group, Inc. (NYSE:MO)

Golden State Wealth Management LLC boosted its holdings in Altria Group, Inc. (NYSE:MO - Free Report) by 130.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,837 shares of the company's stock after purchasing an additional 7,278 shares during the period. Golden State Wealth Management LLC's holdings in Altria Group were worth $771,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Altria Group by 64.7% in the 4th quarter. Brighton Jones LLC now owns 17,702 shares of the company's stock valued at $926,000 after acquiring an additional 6,954 shares during the period. Lake Street Advisors Group LLC raised its stake in Altria Group by 2.7% in the 4th quarter. Lake Street Advisors Group LLC now owns 11,167 shares of the company's stock worth $595,000 after purchasing an additional 292 shares in the last quarter. Advisor OS LLC raised its stake in Altria Group by 2.6% in the 4th quarter. Advisor OS LLC now owns 10,400 shares of the company's stock worth $544,000 after purchasing an additional 264 shares in the last quarter. Checchi Capital Advisers LLC raised its stake in Altria Group by 4.1% in the 4th quarter. Checchi Capital Advisers LLC now owns 15,289 shares of the company's stock worth $799,000 after purchasing an additional 604 shares in the last quarter. Finally, Simmons Bank raised its stake in Altria Group by 4.2% in the 4th quarter. Simmons Bank now owns 44,171 shares of the company's stock worth $2,310,000 after purchasing an additional 1,791 shares in the last quarter. Institutional investors own 57.41% of the company's stock.

Altria Group Trading Down 0.2%

Shares of Altria Group stock opened at $58.82 on Friday. The firm has a market capitalization of $99.09 billion, a PE ratio of 9.85, a price-to-earnings-growth ratio of 3.45 and a beta of 0.60. The firm's 50 day moving average is $59.20 and its 200 day moving average is $56.26. Altria Group, Inc. has a 1 year low of $45.17 and a 1 year high of $61.26.

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

Altria Group Announces Dividend

The firm 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 payout ratio is 68.34%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on shares of Altria Group in a research note on Tuesday, April 1st. 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. Needham & Company LLC upgraded shares of Altria Group to a "hold" rating in a research note on Thursday, May 22nd. Wall Street Zen cut shares of Altria Group from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. Finally, Barclays lifted their price objective on shares of Altria Group from $46.00 to $49.00 and gave the stock an "underweight" rating in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $56.00.

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.

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