Altria Group, Inc. (NYSE:MO) Stock Holdings Lifted by Prosperity Consulting Group LLC

Prosperity Consulting Group LLC raised its stake in Altria Group, Inc. (NYSE:MO) by 72.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,779 shares of the company’s stock after buying an additional 7,494 shares during the period. Prosperity Consulting Group LLC’s holdings in Altria Group were worth $776,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Stegent Equity Advisors Inc. bought a new position in shares of Altria Group in the first quarter valued at $223,000. Diversify Advisory Services LLC purchased a new position in Altria Group during the 1st quarter worth approximately $2,633,000. Private Advisor Group LLC grew its position in Altria Group by 1.2% during the 1st quarter. Private Advisor Group LLC now owns 169,551 shares of the company’s stock worth $7,396,000 after purchasing an additional 1,938 shares in the last quarter. Hartline Investment Corp purchased a new position in Altria Group during the 1st quarter worth approximately $444,000. Finally, Mcintyre Freedman & Flynn Investment Advisers Inc. grew its position in Altria Group by 13.9% during the 1st quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 59,253 shares of the company’s stock worth $2,585,000 after purchasing an additional 7,230 shares in the last quarter. Institutional investors own 57.41% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on MO. UBS Group lifted their price objective on shares of Altria Group from $36.10 to $36.50 and gave the stock a “sell” rating in a research report on Monday, April 8th. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a report on Friday, June 28th. Argus upgraded shares of Altria Group to a “hold” rating in a report on Friday, May 31st. Finally, Stifel Nicolaus restated a “buy” rating and set a $50.00 price target on shares of Altria Group in a report on Monday, March 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Altria Group presently has an average rating of “Hold” and an average target price of $46.90.

Altria Group Price Performance

NYSE:MO traded up $0.15 during trading hours on Friday, reaching $46.10. The company’s stock had a trading volume of 6,881,462 shares, compared to its average volume of 8,950,357. The company has a market cap of $79.18 billion, a price-to-earnings ratio of 9.64, a price-to-earnings-growth ratio of 2.80 and a beta of 0.66. Altria Group, Inc. has a one year low of $39.06 and a one year high of $47.19. The business’s 50-day moving average is $45.49 and its 200-day moving average is $42.88.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, April 25th. The company reported $1.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.15. The firm had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.71 billion. Altria Group had a net margin of 34.81% and a negative return on equity of 222.80%. Altria Group’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.18 earnings per share. On average, sell-side analysts predict that Altria Group, Inc. will post 5.11 EPS for the current fiscal year.

Altria Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Friday, June 14th will be given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 8.50%. The ex-dividend date of this dividend is Friday, June 14th. Altria Group’s dividend payout ratio is 82.01%.

Insiders Place Their Bets

In other Altria Group news, VP Charles N. Whitaker sold 22,487 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $43.95, for a total transaction of $988,303.65. Following the completion of the transaction, the vice president now owns 173,485 shares of the company’s stock, valued at approximately $7,624,665.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.09% of the company’s stock.

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.