Money Concepts Capital Corp Purchases New Position in Altria Group, Inc. (NYSE:MO)

Money Concepts Capital Corp purchased a new stake in Altria Group, Inc. (NYSE:MO - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 9,795 shares of the company's stock, valued at approximately $588,000.

Other hedge funds have also made changes to their positions in the company. Redwood Park Advisors LLC acquired a new position in shares of Altria Group in the 4th quarter worth approximately $26,000. VSM Wealth Advisory LLC acquired a new stake in Altria Group in the 4th quarter valued at approximately $29,000. Inlight Wealth Management LLC purchased a new stake in Altria Group in the first quarter valued at approximately $31,000. Promus Capital LLC purchased a new stake in Altria Group in the fourth quarter valued at approximately $33,000. Finally, Pinney & Scofield Inc. acquired a new position in Altria Group during the fourth quarter worth $33,000. Hedge funds and other institutional investors own 57.41% of the company's stock.

Analysts Set New Price Targets

MO has been the subject of a number of research reports. Needham & Company LLC raised Altria Group to a "hold" rating in a research note on Thursday, May 22nd. Wall Street Zen downgraded Altria Group from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft set a $60.00 price target on shares of Altria Group in a research note on Tuesday, April 1st. Citigroup raised their price objective on shares of Altria Group from $52.00 to $55.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. Finally, Barclays lifted their price objective on shares of Altria Group from $46.00 to $49.00 and gave the company an "underweight" rating in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $57.71.

Altria Group Stock Performance

Shares of MO traded up $1.03 during midday trading on Wednesday, hitting $59.17. The company had a trading volume of 5,468,148 shares, compared to its average volume of 8,543,986. Altria Group, Inc. has a 1 year low of $45.73 and a 1 year high of $61.26. The firm has a market capitalization of $99.67 billion, a P/E ratio of 9.91, a P/E/G ratio of 3.43 and a beta of 0.59. The company's 50-day simple moving average is $59.22 and its 200-day simple moving average is $56.34.

Altria Group (NYSE:MO - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.23 earnings per share (EPS) 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 company had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the previous year, the firm earned $1.15 earnings per share. The firm's quarterly revenue was down 4.2% on a year-over-year basis. Equities analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The firm 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 $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 6.90%. The ex-dividend date of this dividend is Monday, June 16th. Altria Group's dividend payout ratio (DPR) is presently 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.