Altria Group, Inc. (NYSE:MO) Shares Acquired by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC increased its stake in Altria Group, Inc. (NYSE:MO) by 4.6% in the first quarter, Holdings Channel reports. The institutional investor owned 185,191 shares of the company’s stock after acquiring an additional 8,157 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Altria Group were worth $11,115,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Truvestments Capital LLC increased its stake in shares of Altria Group by 4.3% in the fourth quarter. Truvestments Capital LLC now owns 4,581 shares of the company’s stock worth $240,000 after buying an additional 190 shares during the last quarter. Enterprise Financial Services Corp increased its stake in shares of Altria Group by 4.0% in the fourth quarter. Enterprise Financial Services Corp now owns 5,052 shares of the company’s stock worth $264,000 after buying an additional 194 shares during the last quarter. Fragasso Financial Advisors Inc increased its stake in shares of Altria Group by 3.1% in the first quarter. Fragasso Financial Advisors Inc now owns 6,499 shares of the company’s stock worth $390,000 after buying an additional 197 shares during the last quarter. Skyline Advisors Inc. increased its stake in shares of Altria Group by 2.2% in the first quarter. Skyline Advisors Inc. now owns 9,255 shares of the company’s stock worth $555,000 after buying an additional 200 shares during the last quarter. Finally, Fiduciary Group LLC increased its stake in shares of Altria Group by 1.5% in the fourth quarter. Fiduciary Group LLC now owns 13,778 shares of the company’s stock worth $720,000 after buying an additional 203 shares during the last quarter. Institutional investors own 57.41% of the company’s stock.

Wall Street Analyst Weigh In

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

Altria Group Stock Performance

Altria Group stock opened at $59.74 on Monday. The company has a 50-day simple moving average of $58.75 and a 200-day simple moving average of $56.09. The firm has a market capitalization of $100.64 billion, a P/E ratio of 9.12, a P/E/G ratio of 2.89 and a beta of 0.60. Altria Group, Inc. has a one year low of $43.92 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, topping 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 quarter in the prior year, the firm earned $1.15 earnings per share. As a group, sell-side analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Monday, June 16th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.08 annualized dividend and a dividend yield of 6.83%. Altria Group’s dividend payout ratio is currently 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.