Mission Wealth Management LP Has $1.08 Million Stake in Altria Group, Inc. (NYSE:MO)

Mission Wealth Management LP lifted its stake in shares of Altria Group, Inc. (NYSE:MO) by 2.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,009 shares of the company’s stock after acquiring an additional 442 shares during the period. Mission Wealth Management LP’s holdings in Altria Group were worth $1,081,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

MO has been the topic of a number of research reports. Citigroup upped their target price on Altria Group from $52.00 to $55.00 and gave the stock a “neutral” rating in a research report on Friday, April 25th. Wall Street Zen downgraded shares of Altria Group from a “buy” rating to a “hold” rating in a report on Thursday, May 1st. Stifel Nicolaus lifted their price objective on shares of Altria Group from $60.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. Barclays upped their target price on shares of Altria Group from $46.00 to $49.00 and gave the stock an “underweight” rating in a report on Friday, May 2nd. Finally, UBS Group raised their price target on shares of Altria Group from $46.00 to $47.00 and gave the company a “sell” rating in a research report on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Altria Group currently has an average rating of “Hold” and an average target price of $56.00.

Altria Group Price Performance

MO opened at $58.97 on Wednesday. Altria Group, Inc. has a fifty-two week low of $44.41 and a fifty-two week high of $61.26. The firm has a market capitalization of $99.33 billion, a P/E ratio of 9.88, a PEG ratio of 3.43 and a beta of 0.60. The company’s 50-day moving average is $58.86 and its 200 day moving average is $56.12.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.19 by $0.04. Altria Group had a net margin of 43.09% and a negative return on equity of 295.44%. The firm had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same quarter last year, the business posted $1.15 EPS. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, equities research analysts expect 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 $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 6.92%. The ex-dividend date is Monday, June 16th. Altria Group’s dividend payout ratio (DPR) is currently 68.34%.

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.