Salvus Wealth Management LLC Buys 621 Shares of Altria Group, Inc. (NYSE:MO)

by · The Markets Daily

Salvus Wealth Management LLC increased its stake in Altria Group, Inc. (NYSE:MO – Free Report) by 4.2% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 15,362 shares of the company’s stock after purchasing an additional 621 shares during the quarter. Salvus Wealth Management LLC’s holdings in Altria Group were worth $922,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MO. Charles Schwab Investment Management Inc. lifted its stake in Altria Group by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 59,805,286 shares of the company’s stock valued at $3,127,218,000 after acquiring an additional 2,296,972 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Altria Group by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 41,938,507 shares of the company’s stock valued at $2,193,687,000 after purchasing an additional 1,134,748 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Altria Group by 0.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 22,273,491 shares of the company’s stock valued at $1,164,681,000 after purchasing an additional 76,004 shares during the last quarter. Northern Trust Corp grew its holdings in Altria Group by 9.6% during the fourth quarter. Northern Trust Corp now owns 16,432,535 shares of the company’s stock worth $859,257,000 after purchasing an additional 1,444,021 shares during the period. Finally, Invesco Ltd. increased its position in Altria Group by 9.1% during the fourth quarter. Invesco Ltd. now owns 11,801,958 shares of the company’s stock worth $617,124,000 after buying an additional 983,328 shares during the last quarter. 57.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Wall Street Zen cut Altria Group from a “buy” rating to a “hold” rating in a research report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft set a $60.00 target price on shares of Altria Group in a report on Tuesday, April 1st. UBS Group increased their target price on Altria Group from $46.00 to $47.00 and gave the stock a “sell” rating in a research note on Wednesday, April 30th. Citigroup boosted their price target on Altria Group from $52.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, April 25th. Finally, Needham & Company LLC raised Altria Group to a “hold” rating in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Altria Group currently has an average rating of “Hold” and a consensus price target of $56.00.

Check Out Our Latest Stock Report on MO

Altria Group Stock Performance

Altria Group stock opened at $59.31 on Thursday. The stock has a fifty day moving average of $58.46 and a 200-day moving average of $55.97. Altria Group, Inc. has a 52 week low of $43.83 and a 52 week high of $61.26. The stock has a market capitalization of $99.90 billion, a P/E ratio of 9.05, a price-to-earnings-growth ratio of 2.89 and a beta of 0.60.

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, topping the consensus estimate of $1.19 by $0.04. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. The company had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the prior year, the business earned $1.15 earnings per share. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, research analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Monday, June 16th will be paid a $1.02 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.08 annualized dividend and a dividend yield of 6.88%. Altria Group’s dividend payout ratio is 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.

Further Reading

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