Altria Group, Inc. (NYSE:MO) Shares Bought by Spire Wealth Management

by · The Markets Daily

Spire Wealth Management grew its holdings in shares of Altria Group, Inc. (NYSE:MO – Free Report) by 0.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,056 shares of the company’s stock after purchasing an additional 239 shares during the period. Spire Wealth Management’s holdings in Altria Group were worth $1,744,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in MO. Redwood Park Advisors LLC acquired a new stake in shares of Altria Group during the fourth quarter worth about $26,000. VSM Wealth Advisory LLC acquired a new stake in shares of Altria Group during the fourth quarter worth about $29,000. Inlight Wealth Management LLC purchased a new stake in shares of Altria Group during the first quarter worth approximately $31,000. Promus Capital LLC purchased a new stake in shares of Altria Group during the fourth quarter worth approximately $33,000. Finally, Pinney & Scofield Inc. purchased a new stake in shares of Altria Group during the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MO. Barclays upped their target price on shares of Altria Group from $46.00 to $49.00 and gave the stock an “underweight” rating in a research note on Friday, May 2nd. UBS Group upped their target price on shares of Altria Group from $46.00 to $47.00 and gave the stock a “sell” rating in a research note on Wednesday, April 30th. Stifel Nicolaus upped their target price on shares of Altria Group from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft set a $60.00 target price on shares of Altria Group in a research note on Tuesday, April 1st. Finally, Wall Street Zen lowered shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Thursday, May 1st. Two investment 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $56.00.

Check Out Our Latest Report on Altria Group

Altria Group Stock Down 0.2%

Shares of MO opened at $58.82 on Friday. The stock has a 50 day moving average price of $59.20 and a 200 day moving average price of $56.26. The company has a market capitalization of $99.09 billion, a price-to-earnings ratio of 9.85, a price-to-earnings-growth ratio of 3.45 and a beta of 0.60. Altria Group, Inc. has a 52-week low of $45.17 and a 52-week high of $61.26.

Altria Group (NYSE:MO – Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.04. The firm had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.64 billion. Altria Group had a negative return on equity of 295.44% and a net margin of 43.09%. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.15 earnings per share. On average, equities analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Monday, June 16th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 6.94%. The ex-dividend date of this dividend is Monday, June 16th. Altria Group’s payout ratio is currently 68.34%.

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.

See Also

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