Diversify Wealth Management LLC Takes $218,000 Position in Altria Group, Inc. (NYSE:MO)

Diversify Wealth Management LLC purchased a new position in shares of Altria Group, Inc. (NYSE:MOFree Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,280 shares of the company’s stock, valued at approximately $218,000.

Several other hedge funds and other institutional investors have also bought and sold shares of MO. True Wealth Design LLC lifted its holdings in shares of Altria Group by 420.0% during the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after acquiring an additional 462 shares during the period. Legacy Investment Solutions LLC bought a new position in Altria Group in the 3rd quarter valued at approximately $34,000. Peterson Financial Group Inc. acquired a new stake in Altria Group in the third quarter valued at approximately $41,000. Fairman Group LLC grew its stake in shares of Altria Group by 85.1% during the third quarter. Fairman Group LLC now owns 892 shares of the company’s stock worth $46,000 after buying an additional 410 shares during the last quarter. Finally, IFS Advisors LLC increased its holdings in shares of Altria Group by 330.4% during the fourth quarter. IFS Advisors LLC now owns 977 shares of the company’s stock worth $51,000 after buying an additional 750 shares in the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Stock Performance

Shares of NYSE MO opened at $51.17 on Friday. The stock has a market cap of $86.72 billion, a price-to-earnings ratio of 8.64, a PEG ratio of 2.70 and a beta of 0.64. Altria Group, Inc. has a fifty-two week low of $39.25 and a fifty-two week high of $58.03. The firm’s 50-day simple moving average is $54.10 and its 200 day simple moving average is $52.10.

Altria Group (NYSE:MOGet Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.03. The business had revenue of $6.26 billion during the quarter, compared to analyst estimates of $5.33 billion. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. Altria Group’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.28 EPS. On average, sell-side analysts predict that Altria Group, Inc. will post 5.13 EPS for the current year.

Altria Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, December 26th were issued a dividend of $1.02 per share. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $4.08 annualized dividend and a dividend yield of 7.97%. Altria Group’s payout ratio is 68.92%.

Wall Street Analyst Weigh In

MO has been the topic of several recent research reports. Bank of America upgraded shares of Altria Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $55.00 to $65.00 in a research report on Friday, December 6th. Stifel Nicolaus boosted their price objective on shares of Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Citigroup raised their target price on Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $53.43.

Check Out Our Latest Analysis on Altria Group

About Altria Group

(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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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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