Altria Group, Inc. (NYSE:MO) Shares Bought by Graypoint LLC

by · The Cerbat Gem

Graypoint LLC lifted its stake in Altria Group, Inc. (NYSE:MO – Free Report) by 6.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,948 shares of the company’s stock after acquiring an additional 866 shares during the quarter. Graypoint LLC’s holdings in Altria Group were worth $897,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Redwood Park Advisors LLC acquired a new position in Altria Group in the fourth quarter valued at $26,000. VSM Wealth Advisory LLC purchased a new stake in Altria Group in the 4th quarter worth approximately $29,000. Inlight Wealth Management LLC bought a new position in shares of Altria Group in the 1st quarter worth $31,000. Sierra Ocean LLC lifted its position in shares of Altria Group by 226.3% in the 1st quarter. Sierra Ocean LLC now owns 509 shares of the company’s stock worth $31,000 after purchasing an additional 353 shares during the period. Finally, Pinney & Scofield Inc. purchased a new position in Altria Group during the 4th quarter valued at about $33,000. 57.41% of the stock is owned by institutional investors and hedge funds.

Altria Group Trading Down 1.5%

Shares of NYSE:MO opened at $57.96 on Friday. The firm’s 50-day moving average is $59.09 and its 200 day moving average is $56.77. Altria Group, Inc. has a 12 month low of $47.57 and a 12 month high of $61.26. The company has a market capitalization of $97.64 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 3.39 and a beta of 0.59.

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, beating analysts’ consensus estimates of $1.19 by $0.04. Altria Group had a net margin of 43.09% and a negative return on equity of 295.44%. The firm had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the previous year, the business posted $1.15 earnings per share. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. As a group, equities analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Announces Dividend

The business 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. This represents a $4.08 annualized dividend and a yield of 7.04%. The ex-dividend date of this dividend was Monday, June 16th. Altria Group’s payout ratio is currently 68.34%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MO. Stifel Nicolaus upped their price target on shares of Altria Group from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on Altria Group in a research note on Tuesday, April 1st. Jefferies Financial Group assumed coverage on Altria Group in a research note on Wednesday, July 9th. They set an “underperform” rating and a $50.00 price objective on the stock. Needham & Company LLC upgraded Altria Group to a “hold” rating in a research report on Thursday, May 22nd. Finally, UBS Group raised Altria Group from a “sell” rating to a “neutral” rating and raised their price target for the stock from $47.00 to $59.00 in a report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Altria Group presently has an average rating of “Hold” and a consensus target price of $56.75.

Check Out Our Latest Stock Analysis on Altria Group

Altria Group Company Profile

(Free Report)

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.

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