Impact Partnership Wealth LLC Invests $572,000 in Altria Group, Inc. $MO

Impact Partnership Wealth LLC bought a new position in Altria Group, Inc. (NYSE:MO) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 9,763 shares of the company’s stock, valued at approximately $572,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MO. Brighton Jones LLC boosted its position in Altria Group by 64.7% during the 4th quarter. Brighton Jones LLC now owns 17,702 shares of the company’s stock worth $926,000 after acquiring an additional 6,954 shares during the period. Smith Salley Wealth Management grew its position in Altria Group by 24.0% in the first quarter. Smith Salley Wealth Management now owns 7,238 shares of the company’s stock valued at $434,000 after acquiring an additional 1,399 shares during the period. Clear Creek Financial Management LLC grew its stake in Altria Group by 3.6% during the first quarter. Clear Creek Financial Management LLC now owns 25,175 shares of the company’s stock worth $1,511,000 after buying an additional 871 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Altria Group by 4.6% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 246,700 shares of the company’s stock worth $14,807,000 after purchasing an additional 10,931 shares in the last quarter. Finally, DAVENPORT & Co LLC lifted its position in Altria Group by 8.1% during the 1st quarter. DAVENPORT & Co LLC now owns 313,424 shares of the company’s stock worth $18,810,000 after buying an additional 23,604 shares in the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Stock Performance

Shares of MO opened at $61.93 on Thursday. The stock has a market capitalization of $104.03 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 3.52 and a beta of 0.55. Altria Group, Inc. has a 52 week low of $49.88 and a 52 week high of $68.60. The stock has a fifty day moving average of $65.54 and a 200-day moving average of $61.90.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.07. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%.The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.21 billion. During the same period last year, the firm posted $1.31 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. As a group, equities analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Monday, September 15th were given a dividend of $1.06 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.8%. This is a boost from Altria Group’s previous quarterly dividend of $1.02. Altria Group’s payout ratio is currently 82.01%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Bank of America raised their price objective on shares of Altria Group from $64.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, August 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Altria Group in a report on Wednesday, October 8th. Stifel Nicolaus set a $72.00 target price on shares of Altria Group in a research report on Thursday, August 21st. UBS Group raised Altria Group from a “sell” rating to a “neutral” rating and increased their price target for the stock from $47.00 to $59.00 in a research report on Wednesday, July 2nd. Finally, Barclays boosted their target price on shares of Altria Group from $49.00 to $57.00 and gave the company an “underweight” rating in a research report on Wednesday, August 6th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Altria Group presently has a consensus rating of “Hold” and a consensus target price of $62.11.

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.