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 lifted its stake in Altria Group, Inc. (NYSE:MO - Free Report) by 2,950.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,100 shares of the company's stock after purchasing an additional 5,900 shares during the quarter. Vision Financial Markets LLC's holdings in Altria Group were worth $366,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Upgrades and Downgrades

Several research firms recently commented on MO. UBS Group upgraded Altria Group from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $47.00 to $59.00 in a report on Wednesday, July 2nd. Morgan Stanley boosted their price objective on shares of Altria Group from $57.00 to $62.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Stifel Nicolaus increased their price objective on shares of Altria Group from $63.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Jefferies Financial Group started coverage on shares of Altria Group in a research report on Wednesday, July 9th. They issued an "underperform" rating and a $50.00 target price for the company. 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, six have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $59.13.

Altria Group Stock Performance

Shares of Altria Group stock traded up $0.66 on Friday, hitting $64.21. 5,433,128 shares of the company's stock were exchanged, compared to its average volume of 8,586,698. Altria Group, Inc. has a 1 year low of $48.86 and a 1 year high of $64.35. The company has a 50-day simple moving average of $59.72 and a 200-day simple moving average of $57.78. The stock has a market capitalization of $107.87 billion, a PE ratio of 12.42, a PEG ratio of 3.42 and a beta of 0.59.

Altria Group (NYSE:MO - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.44 EPS for the quarter, topping analysts' consensus estimates 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 negative return on equity of 295.26% and a net margin of 37.24%. Altria Group's revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the firm earned $1.31 EPS. On average, analysts expect that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Announces Dividend

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

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.