Altria Group, Inc. (NYSE:MO) Shares Bought by Strategy Asset Managers LLC

Key Points

• Strategy Asset Managers LLC increased its position in Altria Group by 58.5%, acquiring 32,077 additional shares, totaling 86,943 shares valued at $5.22 million.
• Analysts have mixed ratings on Altria Group, with a consensus rating of "Hold" and an average target price of $58.13.
• Altria Group announced a quarterly dividend of $1.02 per share, representing an annualized yield of 6.5%, with a payout ratio of 78.92%.

Strategy Asset Managers LLC raised its stake in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 58.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,943 shares of the company's stock after purchasing an additional 32,077 shares during the quarter. Strategy Asset Managers LLC's holdings in Altria Group were worth $5,218,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Redwood Park Advisors LLC acquired a new stake in shares of Altria Group in the fourth quarter worth $26,000. Inlight Wealth Management LLC purchased a new stake in Altria Group during the first quarter worth $31,000. Sierra Ocean LLC boosted its holdings in Altria Group by 226.3% during the first quarter. Sierra Ocean LLC now owns 509 shares of the company's stock worth $31,000 after buying an additional 353 shares in the last quarter. Pinney & Scofield Inc. purchased a new position in Altria Group during the fourth quarter valued at $33,000. Finally, Bellwether Advisors LLC purchased a new position in Altria Group during the fourth quarter valued at $38,000. Institutional investors and hedge funds own 57.41% of the company's stock.

Altria Group Stock Up 1.0%

Shares of MO traded up $0.66 during trading on Friday, reaching $64.21. 5,433,128 shares of the company traded hands, compared to its average volume of 8,586,698. Altria Group, Inc. has a twelve month low of $48.86 and a twelve month high of $64.35. The stock has a market cap of $107.87 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 3.42 and a beta of 0.59. The stock has a 50-day simple moving average of $59.72 and a 200-day simple moving average of $57.78.

Altria Group (NYSE:MO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.37 by $0.07. The firm had revenue of $5.29 billion during the quarter, compared to analysts' expectations of $5.21 billion. Altria Group had a net margin of 37.24% and a negative return on equity of 295.26%. The business's quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.31 earnings per share. On average, equities research analysts predict that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Monday, June 16th were issued a $1.02 dividend. The ex-dividend date was Monday, June 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 6.4%. Altria Group's payout ratio is 78.92%.

Wall Street Analysts Forecast Growth

MO has been the topic of several recent analyst reports. Needham & Company LLC raised shares of Altria Group to a "hold" rating in a report on Thursday, May 22nd. Citigroup raised their price objective on shares of Altria Group from $52.00 to $55.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. Jefferies Financial Group initiated coverage on shares of Altria Group in a research report on Wednesday, July 9th. They set an "underperform" rating and a $50.00 price objective for the company. Barclays raised their price objective on shares of Altria Group from $49.00 to $57.00 and gave the stock an "underweight" rating in a research report on Wednesday. Finally, Morgan Stanley raised their price objective on shares of Altria Group from $57.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Altria Group has an average rating of "Hold" and a consensus price target of $59.13.

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.