Altria Group, Inc. (NYSE:MO) Shares Acquired by Alta Capital Management LLC

Alta Capital Management LLC lifted its position in shares of Altria Group, Inc. (NYSE:MO) by 6.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,049 shares of the company’s stock after purchasing an additional 3,833 shares during the period. Alta Capital Management LLC’s holdings in Altria Group were worth $3,664,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in shares of Altria Group by 64.7% in the 4th quarter. Brighton Jones LLC now owns 17,702 shares of the company’s stock valued at $926,000 after acquiring an additional 6,954 shares during the last quarter. Strategic Financial Concepts LLC boosted its holdings in Altria Group by 85.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 10,049 shares of the company’s stock valued at $525,000 after purchasing an additional 4,617 shares in the last quarter. Kestra Investment Management LLC purchased a new position in Altria Group in the fourth quarter valued at approximately $40,000. Private Advisor Group LLC increased its stake in Altria Group by 3.4% in the fourth quarter. Private Advisor Group LLC now owns 181,325 shares of the company’s stock valued at $9,481,000 after purchasing an additional 5,958 shares during the last quarter. Finally, Financial Sense Advisors Inc. raised its holdings in Altria Group by 51.5% during the fourth quarter. Financial Sense Advisors Inc. now owns 91,624 shares of the company’s stock worth $4,791,000 after purchasing an additional 31,146 shares in the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Stock Performance

NYSE MO opened at $59.41 on Friday. The firm’s fifty day moving average is $58.98 and its two-hundred day moving average is $56.16. Altria Group, Inc. has a one year low of $44.53 and a one year high of $61.26. The firm has a market cap of $100.07 billion, a PE ratio of 9.95, a P/E/G ratio of 3.47 and a beta of 0.60.

Altria Group (NYSE:MO) last released its quarterly earnings results on Tuesday, April 29th. The company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.04. The firm had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.64 billion. Altria Group had a negative return on equity of 295.44% and a net margin of 43.09%. The business’s revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the company posted $1.15 earnings per share. Research analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Monday, June 16th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 6.87%. The ex-dividend date is Monday, June 16th. Altria Group’s dividend payout ratio is presently 68.34%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. UBS Group upped 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. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on shares of Altria Group in a research note on Tuesday, April 1st. Needham & Company LLC raised Altria Group to a “hold” rating in a report on Thursday, May 22nd. Citigroup boosted their target price on Altria Group from $52.00 to $55.00 and gave the company a “neutral” rating in a report on Friday, April 25th. Finally, Stifel Nicolaus upped their target price on Altria Group from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $56.00.

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.