Future Financial Wealth Managment LLC Purchases New Shares in Altria Group, Inc. (NYSE:MO)

Future Financial Wealth Managment LLC acquired a new stake in Altria Group, Inc. (NYSE:MO) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 3,758 shares of the company’s stock, valued at approximately $192,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of MO. Delta Investment Management LLC boosted its holdings in shares of Altria Group by 2.9% during the 2nd quarter. Delta Investment Management LLC now owns 7,064 shares of the company’s stock valued at $322,000 after acquiring an additional 198 shares in the last quarter. Scarborough Advisors LLC increased its position in Altria Group by 18.5% in the 2nd quarter. Scarborough Advisors LLC now owns 1,283 shares of the company’s stock valued at $58,000 after buying an additional 200 shares in the last quarter. Hollencrest Capital Management increased its position in Altria Group by 0.3% in the 2nd quarter. Hollencrest Capital Management now owns 76,595 shares of the company’s stock valued at $3,489,000 after buying an additional 203 shares in the last quarter. SP Asset Management LLC increased its position in Altria Group by 2.5% in the 2nd quarter. SP Asset Management LLC now owns 8,211 shares of the company’s stock valued at $374,000 after buying an additional 204 shares in the last quarter. Finally, Certuity LLC increased its position in Altria Group by 1.6% in the 2nd quarter. Certuity LLC now owns 13,664 shares of the company’s stock valued at $622,000 after buying an additional 213 shares in the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Price Performance

Shares of MO opened at $49.55 on Wednesday. The firm has a market cap of $85.11 billion, a PE ratio of 10.37, a PEG ratio of 2.95 and a beta of 0.65. Altria Group, Inc. has a 1 year low of $39.06 and a 1 year high of $54.95. The stock’s fifty day moving average price is $51.55 and its two-hundred day moving average price is $47.45.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.04). Altria Group had a net margin of 42.25% and a negative return on equity of 232.55%. The business had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same period last year, the firm earned $1.31 EPS. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. Sell-side analysts anticipate that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Monday, September 16th will be given a $1.02 dividend. The ex-dividend date is Monday, September 16th. This represents a $4.08 annualized dividend and a dividend yield of 8.23%. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s payout ratio is 85.36%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on MO shares. Citigroup boosted their target price on Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday. UBS Group lifted their price target on Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a research note on Monday, September 9th. Barclays lifted their price target on Altria Group from $43.00 to $45.00 and gave the company an “underweight” rating in a research note on Monday, September 9th. Stifel Nicolaus lifted their price target on Altria Group from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Bank of America lifted their price target on Altria Group from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $50.17.

About Altria Group

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.