Westbourne Investments Inc. Takes $995,000 Position in Altria Group, Inc. $MO

Key Points

• Westbourne Investments bought a new stake of 17,261 shares in Altria (NYSE:MO) during Q4, valued at approximately $995,000.
• Altria announced a quarterly dividend of $1.06 per share (annualized $4.24), implying a yield of about 6.3% with an ex-dividend date of March 25 and payment on April 30.
• SVP Charles N. Whitaker sold 27,908 shares for roughly $1.89 million, trimming his holding by 13.37%, while analysts have a consensus rating of "Hold" with an average target price of $65.75.

Westbourne Investments Inc. purchased a new stake in shares of Altria Group, Inc. (NYSE:MO - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 17,261 shares of the company's stock, valued at approximately $995,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. V Square Quantitative Management LLC increased its position in shares of Altria Group by 7.1% during the fourth quarter. V Square Quantitative Management LLC now owns 16,317 shares of the company's stock valued at $941,000 after buying an additional 1,084 shares during the period. Yarger Wealth Strategies LLC increased its position in shares of Altria Group by 2.9% during the fourth quarter. Yarger Wealth Strategies LLC now owns 8,541 shares of the company's stock valued at $492,000 after buying an additional 243 shares during the period. Powers Advisory Group LLC increased its position in shares of Altria Group by 5.4% during the fourth quarter. Powers Advisory Group LLC now owns 9,778 shares of the company's stock valued at $564,000 after buying an additional 501 shares during the period. MH & Associates Securities Management Corp ADV bought a new stake in shares of Altria Group during the fourth quarter valued at about $2,719,000. Finally, Newman Dignan & Sheerar Inc. increased its position in shares of Altria Group by 7.0% during the fourth quarter. Newman Dignan & Sheerar Inc. now owns 4,578 shares of the company's stock valued at $264,000 after buying an additional 300 shares during the period. 57.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Barclays upped their target price on Altria Group from $57.00 to $63.00 and gave the stock an "underweight" rating in a research note on Monday, February 23rd. Citigroup upped their target price on Altria Group from $57.00 to $65.00 and gave the stock a "neutral" rating in a research note on Monday, February 9th. Argus upgraded Altria Group to a "hold" rating in a research note on Tuesday, January 13th. UBS Group upped their target price on Altria Group from $67.00 to $74.00 and gave the stock a "buy" rating in a research note on Monday, March 9th. Finally, Jefferies Financial Group upped their target price on Altria Group from $47.00 to $50.00 and gave the stock an "underperform" rating in a research note on Wednesday, March 4th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $65.75.

Insiders Place Their Bets

In related news, SVP Charles N. Whitaker sold 27,908 shares of the stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $67.57, for a total transaction of $1,885,743.56. Following the completion of the sale, the senior vice president directly owned 180,869 shares in the company, valued at $12,221,318.33. This represents a 13.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.08% of the stock is owned by corporate insiders.

Altria Group Trading Up 1.1%

Shares of Altria Group stock opened at $67.52 on Friday. The firm has a market capitalization of $112.85 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 2.85 and a beta of 0.41. The business's 50-day moving average price is $66.41 and its 200-day moving average price is $62.59. Altria Group, Inc. has a 12 month low of $54.70 and a 12 month high of $70.51.

Altria Group (NYSE:MO - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The company reported $1.30 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.02). The firm had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $5.02 billion. Altria Group had a net margin of 29.84% and a negative return on equity of 287.61%. Altria Group's revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the company posted $1.30 earnings per share. As a group, analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, March 25th will be issued a dividend of $1.06 per share. The ex-dividend date is Wednesday, March 25th. This represents a $4.24 annualized dividend and a yield of 6.3%. Altria Group's dividend payout ratio is currently 103.16%.

Altria Group Profile

Altria Group, Inc NYSE: MO is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company's operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria's principal operating businesses include Philip Morris USA (cigarettes), U.S.

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