Altria Group, Inc. (NYSE:MO) Position Raised by Independent Solutions Wealth Management LLC

Independent Solutions Wealth Management LLC raised its holdings in Altria Group, Inc. (NYSE:MO) by 6.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 56,436 shares of the company’s stock after acquiring an additional 3,234 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Altria Group were worth $2,951,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MO. Fifth Third Wealth Advisors LLC boosted its position in shares of Altria Group by 79.9% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 14,004 shares of the company’s stock valued at $715,000 after purchasing an additional 6,219 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Altria Group in the third quarter worth approximately $1,394,000. Avior Wealth Management LLC boosted its holdings in shares of Altria Group by 34.9% during the third quarter. Avior Wealth Management LLC now owns 14,506 shares of the company’s stock worth $740,000 after purchasing an additional 3,754 shares during the period. Prospera Private Wealth LLC purchased a new position in Altria Group during the third quarter valued at approximately $81,000. Finally, Segall Bryant & Hamill LLC acquired a new position in Altria Group in the 3rd quarter valued at approximately $2,183,000. 57.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MO has been the subject of a number of research reports. Bank of America raised shares of Altria Group from a “neutral” rating to a “buy” rating and lifted their target price for the company from $55.00 to $65.00 in a research note on Friday, December 6th. Morgan Stanley reduced their price objective on Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $53.29.

Altria Group Trading Up 0.2 %

Shares of NYSE:MO opened at $58.09 on Friday. The stock has a market capitalization of $98.21 billion, a PE ratio of 8.87, a P/E/G ratio of 2.89 and a beta of 0.56. The firm has a fifty day moving average price of $54.29 and a 200 day moving average price of $53.45. Altria Group, Inc. has a 1 year low of $40.65 and a 1 year high of $59.67.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, January 30th. The company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. On average, sell-side analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th will be given a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 7.02%. The ex-dividend date is Tuesday, March 25th. Altria Group’s dividend payout ratio is currently 62.29%.

Altria Group Profile

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.