Salvus Wealth Management LLC Purchases 621 Shares of Altria Group, Inc. (NYSE:MO)

Salvus Wealth Management LLC boosted its position in shares of Altria Group, Inc. (NYSE:MO) by 4.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,362 shares of the company’s stock after purchasing an additional 621 shares during the period. Salvus Wealth Management LLC’s holdings in Altria Group were worth $922,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MO. Redwood Park Advisors LLC bought a new position in Altria Group in the 4th quarter valued at $26,000. VSM Wealth Advisory LLC bought a new position in shares of Altria Group in the fourth quarter valued at about $29,000. Marshall Investment Management LLC bought a new position in shares of Altria Group in the fourth quarter valued at about $32,000. Promus Capital LLC acquired a new position in Altria Group during the 4th quarter worth about $33,000. Finally, Pinney & Scofield Inc. bought a new stake in Altria Group during the 4th quarter worth about $33,000. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Altria Group Stock Performance

Shares of MO stock opened at $59.31 on Thursday. Altria Group, Inc. has a 52 week low of $43.83 and a 52 week high of $61.26. The company’s 50 day moving average price is $58.46 and its two-hundred day moving average price is $55.97. The company has a market capitalization of $99.90 billion, a P/E ratio of 9.05, a price-to-earnings-growth ratio of 2.89 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, beating the consensus estimate of $1.19 by $0.04. The firm had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.64 billion. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the business posted $1.15 EPS. Analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Monday, June 16th will be paid a $1.02 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.08 annualized dividend and a yield of 6.88%. Altria Group’s payout ratio is currently 68.34%.

Analyst Ratings Changes

MO has been the topic of several research analyst reports. Citigroup increased their price target 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. Stifel Nicolaus lifted their price target on shares of Altria Group from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Needham & Company LLC raised shares of Altria Group to a “hold” rating in a research note on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on shares of Altria Group in a research note on Tuesday, April 1st. Finally, UBS Group lifted their target price on shares of Altria Group from $46.00 to $47.00 and gave the stock a “sell” rating in a report on Wednesday, April 30th. Two 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.com, Altria Group presently has a consensus rating of “Hold” and a consensus price target of $56.00.

Altria Group Company 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.