My Legacy Advisors LLC Purchases 1,179 Shares of Altria Group, Inc. (NYSE:MO)

My Legacy Advisors LLC raised its position in shares of Altria Group, Inc. (NYSE:MO) by 7.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,325 shares of the company’s stock after acquiring an additional 1,179 shares during the period. My Legacy Advisors LLC’s holdings in Altria Group were worth $1,040,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of MO. Charles Schwab Investment Management Inc. grew its holdings in shares of 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 worth $3,127,218,000 after purchasing an additional 2,296,972 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Altria Group by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 41,938,507 shares of the company’s stock worth $2,193,687,000 after purchasing an additional 1,134,748 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Altria Group by 0.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 22,273,491 shares of the company’s stock worth $1,164,681,000 after acquiring an additional 76,004 shares during the period. Northern Trust Corp lifted its stake in Altria Group by 9.6% in the fourth quarter. Northern Trust Corp now owns 16,432,535 shares of the company’s stock worth $859,257,000 after acquiring an additional 1,444,021 shares during the period. Finally, Invesco Ltd. lifted its stake in Altria Group by 9.1% in the fourth quarter. Invesco Ltd. now owns 11,801,958 shares of the company’s stock worth $617,124,000 after acquiring an additional 983,328 shares during the period. Institutional investors own 57.41% of the company’s stock.

Analyst Ratings Changes

MO has been the subject of a number of research reports. Citigroup upped their price objective on shares of Altria Group from $52.00 to $55.00 and gave the stock a “neutral” rating in a research note on Friday, April 25th. UBS Group upped their price objective 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. Needham & Company LLC raised shares of Altria Group to a “hold” rating in a research note on Thursday, May 22nd. Stifel Nicolaus upped their price objective 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. Finally, Barclays upped their price objective 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. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $56.00.

Altria Group Stock Performance

MO stock opened at $58.58 on Wednesday. The firm has a market cap of $98.68 billion, a price-to-earnings ratio of 8.94, a PEG ratio of 2.89 and a beta of 0.60. The firm has a 50-day simple moving average of $58.50 and a two-hundred day simple moving average of $56.05. Altria Group, Inc. has a one year low of $43.83 and a one year high of $61.26.

Altria Group (NYSE:MO) last released its quarterly earnings results on Tuesday, April 29th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.19 by $0.04. The business had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.64 billion. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.15 earnings per share. As a group, equities analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Monday, June 16th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 6.96%. The ex-dividend date is Monday, June 16th. Altria Group’s payout ratio is 68.34%.

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.