Vision Financial Markets LLC Boosts Holdings in Altria Group, Inc. (NYSE:MO)

Key Points

• Vision Financial Markets LLC significantly expanded its holdings in Altria Group by 2,950.0% during the first quarter, bringing its total shares to 6,100, valued at $366,000.
• The company reported earnings per share of $1.44 for the latest quarter, surpassing analysts' expectations, with a revenue of $5.29 billion compared to estimates of $5.21 billion.
• Altria recently declared a quarterly dividend of $1.02 per share, resulting in an annualized yield of 6.6%.

Vision Financial Markets LLC boosted its holdings in Altria Group, Inc. (NYSE:MO - Free Report) by 2,950.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 6,100 shares of the company's stock after buying an additional 5,900 shares during the period. Vision Financial Markets LLC's holdings in Altria Group were worth $366,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Redwood Park Advisors LLC purchased a new position in Altria Group in the fourth quarter worth about $26,000. Inlight Wealth Management LLC bought a new stake in shares of Altria Group in the 1st quarter valued at approximately $31,000. Sierra Ocean LLC increased its position in shares of Altria Group by 226.3% during the 1st quarter. Sierra Ocean LLC now owns 509 shares of the company's stock valued at $31,000 after purchasing an additional 353 shares during the last quarter. Pinney & Scofield Inc. bought a new position in shares of Altria Group during the 4th quarter valued at approximately $33,000. Finally, Bellwether Advisors LLC purchased a new stake in Altria Group during the 4th quarter valued at $38,000. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Altria Group Stock Performance

NYSE MO traded up $0.40 on Thursday, reaching $63.55. 4,907,117 shares of the stock traded hands, compared to its average volume of 9,047,638. Altria Group, Inc. has a 12 month low of $48.86 and a 12 month high of $63.76. The company has a market cap of $106.76 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 3.40 and a beta of 0.59. The company has a fifty day moving average price of $59.64 and a 200-day moving average price of $57.70.

Altria Group (NYSE:MO - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.07. The company had revenue of $5.29 billion for 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 firm's quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business earned $1.31 EPS. As a group, research analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MO. UBS Group upgraded shares of Altria Group from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $47.00 to $59.00 in a research report on Wednesday, July 2nd. Barclays upped their target price on Altria Group from $49.00 to $57.00 and gave the company an "underweight" rating in a research note on Wednesday. Citigroup raised their price target on Altria Group from $52.00 to $55.00 and gave the stock a "neutral" rating in a research note on Friday, April 25th. Jefferies Financial Group began coverage on Altria Group in a report on Wednesday, July 9th. They set an "underperform" rating and a $50.00 price objective for the company. Finally, Needham & Company LLC upgraded Altria Group to a "hold" rating in a research report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, six 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 $59.13.

About Altria Group

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.