Synergy Asset Management LLC Boosts Position in Altria Group, Inc. (NYSE:MO)

Synergy Asset Management LLC increased its holdings in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 565.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 78,680 shares of the company's stock after purchasing an additional 66,848 shares during the quarter. Synergy Asset Management LLC's holdings in Altria Group were worth $4,722,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Crews Bank & Trust increased its position in Altria Group by 16.9% during the first quarter. Crews Bank & Trust now owns 2,835 shares of the company's stock worth $170,000 after buying an additional 410 shares during the period. Buck Wealth Strategies LLC acquired a new position in Altria Group during the first quarter worth approximately $319,000. FSC Wealth Advisors LLC increased its position in Altria Group by 34.6% during the first quarter. FSC Wealth Advisors LLC now owns 3,238 shares of the company's stock worth $194,000 after buying an additional 832 shares during the period. Inlight Wealth Management LLC acquired a new position in Altria Group during the first quarter worth approximately $31,000. Finally, Intact Investment Management Inc. increased its position in Altria Group by 39.3% during the first quarter. Intact Investment Management Inc. now owns 281,500 shares of the company's stock worth $16,896,000 after buying an additional 79,400 shares during the period. Hedge funds and other institutional investors own 57.41% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on MO. Wall Street Zen lowered Altria Group from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Citigroup boosted their target price on Altria Group from $52.00 to $55.00 and gave the company a "neutral" rating in a report on Friday, April 25th. Needham & Company LLC raised Altria Group to a "hold" rating in a report on Thursday, May 22nd. Stifel Nicolaus boosted their target price on Altria Group from $60.00 to $63.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Finally, Barclays boosted their target price on Altria Group from $46.00 to $49.00 and gave the company an "underweight" rating in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Altria Group has a consensus rating of "Hold" and an average price target of $56.00.

Altria Group Stock Up 0.2%

MO stock traded up $0.11 on Friday, reaching $59.60. 23,252,995 shares of the company's stock were exchanged, compared to its average volume of 8,583,963. The stock has a fifty day moving average of $59.04 and a 200-day moving average of $56.17. Altria Group, Inc. has a twelve month low of $45.17 and a twelve month high of $61.26. The firm has a market cap of $100.39 billion, a PE ratio of 9.98, a P/E/G ratio of 3.49 and a beta of 0.61.

Altria Group (NYSE:MO - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.04. Altria Group had a negative return on equity of 295.44% and a net margin of 43.09%. The firm had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the prior year, the company posted $1.15 earnings per share. Altria Group's quarterly revenue was down 4.2% on a year-over-year basis. On average, equities 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 disclosed 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 dividend on an annualized basis and a yield of 6.85%. The ex-dividend date of this dividend is Monday, June 16th. Altria Group's dividend payout ratio 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.