Michels Family Financial LLC Takes $983,000 Position in Altria Group, Inc. (NYSE:MO)

Michels Family Financial LLC purchased a new position in Altria Group, Inc. (NYSE:MO - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 18,795 shares of the company's stock, valued at approximately $983,000.

Other hedge funds also recently made changes to their positions in the company. Diversify Wealth Management LLC purchased a new stake in Altria Group in the 4th quarter worth approximately $218,000. Wesbanco Bank Inc. increased its holdings in shares of Altria Group by 1.8% in the fourth quarter. Wesbanco Bank Inc. now owns 38,591 shares of the company's stock worth $2,018,000 after purchasing an additional 700 shares during the period. Secure Asset Management LLC raised its position in shares of Altria Group by 13.3% in the fourth quarter. Secure Asset Management LLC now owns 11,012 shares of the company's stock worth $576,000 after buying an additional 1,292 shares in the last quarter. Brighton Jones LLC raised its position in shares of 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 buying an additional 6,954 shares in the last quarter. Finally, Cornerstone Wealth Management LLC boosted its stake in Altria Group by 10.4% during the fourth quarter. Cornerstone Wealth Management LLC now owns 52,344 shares of the company's stock valued at $2,737,000 after buying an additional 4,932 shares during the period. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Altria Group Trading Up 0.7%

Shares of MO traded up $0.44 during mid-day trading on Monday, reaching $59.74. The company's stock had a trading volume of 4,860,327 shares, compared to its average volume of 8,682,214. Altria Group, Inc. has a 52 week low of $43.83 and a 52 week high of $61.26. The stock has a market cap of $100.63 billion, a PE ratio of 9.12, a P/E/G ratio of 2.89 and a beta of 0.60. The company's fifty day moving average price is $58.13 and its two-hundred day moving average price is $55.71.

Altria Group (NYSE:MO - Get Free Report) last issued 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. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. The company had revenue of $4.52 billion for the quarter, compared to analysts' expectations of $4.64 billion. During the same quarter last year, the company earned $1.15 EPS. The firm's revenue was down 4.2% compared to the same quarter last year. Research analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Monday, June 16th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 6.83%. The ex-dividend date is Monday, June 16th. Altria Group's dividend payout ratio is presently 68.34%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Citigroup raised their price target on Altria Group from $52.00 to $55.00 and gave the company a "neutral" rating in a report on Friday, April 25th. Barclays raised their target price on shares of Altria Group from $46.00 to $49.00 and gave the company an "underweight" rating in a research note on Friday, May 2nd. Morgan Stanley cut their price target on shares of Altria Group from $54.00 to $53.00 and set an "equal weight" rating for the company in a research note on Friday, January 31st. Wall Street Zen cut shares of Altria Group from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Finally, UBS Group upped their target price on shares of Altria Group from $46.00 to $47.00 and gave the stock a "sell" rating in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average 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.