Magnus Financial Group LLC Takes Position in Altria Group, Inc. (NYSE:MO)

Magnus Financial Group LLC acquired a new stake in Altria Group, Inc. (NYSE:MO - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 7,480 shares of the company's stock, valued at approximately $449,000.

Several other hedge funds also recently modified their holdings of the stock. Csenge Advisory Group increased its stake in Altria Group by 29.1% during the 4th quarter. Csenge Advisory Group now owns 54,684 shares of the company's stock valued at $2,859,000 after purchasing an additional 12,320 shares in the last quarter. Truist Financial Corp increased its stake in Altria Group by 27.6% during the 4th quarter. Truist Financial Corp now owns 2,418,074 shares of the company's stock valued at $126,441,000 after purchasing an additional 523,146 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Altria Group by 1.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,414,856 shares of the company's stock valued at $178,563,000 after purchasing an additional 39,341 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its stake in Altria Group by 40.2% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 70,826 shares of the company's stock valued at $3,703,000 after purchasing an additional 20,309 shares in the last quarter. Finally, First Merchants Corp increased its stake in Altria Group by 56.1% during the 4th quarter. First Merchants Corp now owns 27,983 shares of the company's stock valued at $1,463,000 after purchasing an additional 10,058 shares in the last quarter. Institutional investors own 57.41% of the company's stock.

Altria Group Trading Down 0.2%

MO stock opened at $59.25 on Friday. The company's 50 day moving average is $58.45 and its 200 day moving average is $56.02. The stock has a market cap of $99.80 billion, a price-to-earnings ratio of 9.05, a price-to-earnings-growth ratio of 2.89 and a beta of 0.60. Altria Group, Inc. has a 1-year low of $43.83 and a 1-year high of $61.26.

Altria Group (NYSE:MO - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate 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 net margin of 46.90% and a negative return on equity of 258.72%. Altria Group's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.15 earnings per share. As a group, sell-side analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Monday, June 16th will be given a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 6.89%. The ex-dividend date is Monday, June 16th. Altria Group's dividend payout ratio (DPR) is 68.34%.

Analysts Set New Price Targets

A number of analysts have commented on MO shares. Stifel Nicolaus boosted their price target on shares of Altria Group from $60.00 to $63.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Citigroup boosted 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. Needham & Company LLC raised shares of Altria Group to a "hold" rating in a report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on shares of Altria Group in a report on Tuesday, April 1st. Finally, UBS Group upped their price objective on shares of Altria Group from $46.00 to $47.00 and gave the company a "sell" rating in a report on Wednesday, April 30th. Two 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $56.00.

About Altria Group

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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