Legacy Advisors LLC grew its holdings in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 161.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,721 shares of the company's stock after purchasing an additional 17,115 shares during the quarter. Legacy Advisors LLC's holdings in Altria Group were worth $1,664,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. Redwood Park Advisors LLC bought a new stake in shares of Altria Group during the 4th quarter worth about $26,000. Inlight Wealth Management LLC bought a new stake in Altria Group during the first quarter worth approximately $31,000. VSM Wealth Advisory LLC acquired a new position in Altria Group during the fourth quarter valued at approximately $29,000. Promus Capital LLC bought a new position in shares of Altria Group in the fourth quarter valued at approximately $33,000. Finally, Pinney & Scofield Inc. bought a new position in shares of Altria Group in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 57.41% of the company's stock.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on shares of Altria Group in a report on Tuesday, April 1st. Wall Street Zen cut shares of Altria Group from a "buy" rating to a "hold" rating in a report on Thursday, May 1st. UBS Group lifted their price objective on Altria Group from $46.00 to $47.00 and gave the stock a "sell" rating in a research note on Wednesday, April 30th. Needham & Company LLC raised Altria Group to a "hold" rating in a research report on Thursday, May 22nd. Finally, Stifel Nicolaus raised their target price on Altria Group from $60.00 to $63.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Two equities research 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. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $56.00.
View Our Latest Stock Report on Altria Group
Altria Group Stock Down 0.9%
MO traded down $0.53 during trading on Tuesday, reaching $59.96. 5,726,538 shares of the company's stock were exchanged, compared to its average volume of 9,244,781. The company has a market capitalization of $101.00 billion, a P/E ratio of 10.04, a PEG ratio of 3.49 and a beta of 0.61. The business has a 50 day moving average price of $59.11 and a 200 day moving average price of $56.19. Altria Group, Inc. has a fifty-two week low of $45.17 and a fifty-two week 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, beating 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 for the quarter, compared to analysts' expectations of $4.64 billion. During the same quarter in the previous year, the firm posted $1.15 earnings per share. The firm's revenue for the quarter was down 4.2% on a year-over-year basis. As a group, research analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current year.
Altria Group Dividend Announcement
The company also recently announced 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. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.08 annualized dividend and a dividend yield of 6.80%. Altria Group's dividend payout ratio is presently 68.34%.
Altria Group Profile
(
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.
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