PBMares Wealth Management LLC Raises Holdings in Altria Group, Inc. (NYSE:MO)

PBMares Wealth Management LLC grew its holdings in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 70.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,123 shares of the company's stock after acquiring an additional 7,908 shares during the quarter. PBMares Wealth Management LLC's holdings in Altria Group were worth $1,148,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of MO. St. Johns Investment Management Company LLC increased its stake in shares of Altria Group by 37.8% in the 1st quarter. St. Johns Investment Management Company LLC now owns 689 shares of the company's stock worth $41,000 after purchasing an additional 189 shares in the last quarter. Truvestments Capital LLC grew its holdings in Altria Group by 4.3% during the fourth quarter. Truvestments Capital LLC now owns 4,581 shares of the company's stock valued at $240,000 after purchasing an additional 190 shares during the period. Enterprise Financial Services Corp increased its position in Altria Group by 4.0% in the fourth quarter. Enterprise Financial Services Corp now owns 5,052 shares of the company's stock worth $264,000 after buying an additional 194 shares in the last quarter. Fragasso Financial Advisors Inc increased its position in Altria Group by 3.1% in the first quarter. Fragasso Financial Advisors Inc now owns 6,499 shares of the company's stock worth $390,000 after buying an additional 197 shares in the last quarter. Finally, Skyline Advisors Inc. raised its stake in shares of Altria Group by 2.2% in the first quarter. Skyline Advisors Inc. now owns 9,255 shares of the company's stock worth $555,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 57.41% of the company's stock.

Altria Group Stock Performance

MO stock traded down $0.34 during midday trading on Wednesday, reaching $59.57. The company's stock had a trading volume of 922,869 shares, compared to its average volume of 8,537,717. Altria Group, Inc. has a 1 year low of $45.17 and a 1 year high of $61.26. The firm has a market capitalization of $100.34 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 3.54 and a beta of 0.61. The stock has a fifty day simple moving average of $59.15 and a two-hundred day simple moving average of $56.22.

Altria Group (NYSE:MO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $1.23 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter last year, the firm posted $1.15 EPS. The firm's revenue was down 4.2% compared to the same quarter last year. As a group, analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Monday, June 16th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 6.85%. The ex-dividend date is Monday, June 16th. Altria Group's dividend payout ratio is presently 68.34%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MO. Stifel Nicolaus boosted their price objective on Altria Group from $60.00 to $63.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Barclays lifted their price target 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. Deutsche Bank Aktiengesellschaft set a $60.00 price target on shares of Altria Group in a research report 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 report on Friday, April 25th. Finally, Wall Street Zen cut shares of Altria Group from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock 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.