Sagespring Wealth Partners LLC Purchases 14,687 Shares of Altria Group, Inc. (NYSE:MO)

Sagespring Wealth Partners LLC increased its position in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 24.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,795 shares of the company's stock after purchasing an additional 14,687 shares during the period. Sagespring Wealth Partners LLC's holdings in Altria Group were worth $4,429,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MO. Raymond James Financial Inc. bought a new stake in shares of Altria Group during the 4th quarter valued at $137,536,000. Charles Schwab Investment Management Inc. raised its position in shares of Altria Group by 4.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 59,805,286 shares of the company's stock valued at $3,127,218,000 after purchasing an additional 2,296,972 shares during the period. GAMMA Investing LLC raised its position in shares of Altria Group by 6,969.4% during the 1st quarter. GAMMA Investing LLC now owns 2,162,401 shares of the company's stock valued at $129,787,000 after purchasing an additional 2,131,813 shares during the period. Castlekeep Investment Advisors LLC bought a new stake in shares of Altria Group during the 4th quarter valued at $91,000. Finally, Northern Trust Corp raised its position in shares of Altria Group by 9.6% during the 4th quarter. Northern Trust Corp now owns 16,432,535 shares of the company's stock valued at $859,257,000 after purchasing an additional 1,444,021 shares during the period. 57.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MO. UBS Group raised their price objective on shares of Altria Group from $46.00 to $47.00 and gave the company a "sell" rating in a research report on Wednesday, April 30th. Wall Street Zen lowered Altria Group from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Citigroup lifted their target price on Altria Group from $52.00 to $55.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. Barclays lifted their target price on Altria Group from $46.00 to $49.00 and gave the stock an "underweight" rating in a report on Friday, May 2nd. Finally, Needham & Company LLC raised Altria Group to a "hold" rating in a report on Thursday, May 22nd. 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 company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $56.00.

Altria Group Trading Down 0.3%

Shares of MO stock opened at $59.74 on Monday. Altria Group, Inc. has a 12-month low of $43.92 and a 12-month high of $61.26. The stock's 50-day moving average price is $58.75 and its 200-day moving average price is $56.09. The stock has a market capitalization of $100.64 billion, a price-to-earnings ratio of 9.12, a price-to-earnings-growth ratio of 2.89 and a beta of 0.60.

Altria Group (NYSE:MO - Get Free Report) last released 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. The company had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.64 billion. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. The firm's revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the business posted $1.15 earnings per share. As a group, research analysts predict that Altria Group, Inc. will post 5.32 EPS 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. Shareholders of record on Monday, June 16th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.08 annualized dividend and a dividend yield of 6.83%. Altria Group's dividend payout ratio (DPR) is presently 68.34%.

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.

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