Focus Financial Network Inc. Increases Stake in Altria Group, Inc. (NYSE:MO)

Focus Financial Network Inc. raised its holdings in Altria Group, Inc. (NYSE:MO) by 1.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,476 shares of the company’s stock after buying an additional 420 shares during the period. Focus Financial Network Inc.’s holdings in Altria Group were worth $1,589,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MO. Redwood Park Advisors LLC purchased a new stake in Altria Group during the 4th quarter worth about $26,000. VSM Wealth Advisory LLC purchased a new stake in Altria Group during the fourth quarter worth approximately $29,000. Marshall Investment Management LLC acquired a new position in Altria Group in the fourth quarter valued at approximately $32,000. Promus Capital LLC purchased a new stake in shares of Altria Group during the 4th quarter worth approximately $33,000. Finally, Pinney & Scofield Inc. acquired a new position in shares of Altria Group in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Analyst Ratings Changes

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

Altria Group Price Performance

MO opened at $59.92 on Thursday. Altria Group, Inc. has a 12 month low of $43.83 and a 12 month high of $61.26. The stock has a market capitalization of $100.94 billion, a P/E ratio of 9.15, a P/E/G ratio of 2.89 and a beta of 0.60. The business has a 50 day simple moving average of $58.58 and a 200-day simple moving average of $56.08.

Altria Group (NYSE:MO) last issued its earnings results on Tuesday, April 29th. The company reported $1.23 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 for the quarter, compared to analyst estimates of $4.64 billion. During the same period in the previous year, the firm earned $1.15 EPS. The business’s revenue was down 4.2% on a year-over-year basis. Research analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

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 is Monday, June 16th. This represents a $4.08 dividend on an annualized basis and a yield of 6.81%. Altria Group’s payout ratio is 68.34%.

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.