Premier Path Wealth Partners LLC Acquires 244 Shares of Altria Group, Inc. (NYSE:MO)

Premier Path Wealth Partners LLC grew its holdings in Altria Group, Inc. (NYSE:MOFree Report) by 3.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,643 shares of the company’s stock after purchasing an additional 244 shares during the period. Premier Path Wealth Partners LLC’s holdings in Altria Group were worth $400,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. American Century Companies Inc. lifted its stake in Altria Group by 163.6% during the 2nd quarter. American Century Companies Inc. now owns 50,862 shares of the company’s stock valued at $2,317,000 after acquiring an additional 31,568 shares during the period. Renaissance Technologies LLC boosted its holdings in Altria Group by 387.9% in the second quarter. Renaissance Technologies LLC now owns 350,300 shares of the company’s stock worth $15,956,000 after purchasing an additional 278,500 shares during the last quarter. Blair William & Co. IL grew its position in Altria Group by 16.4% in the 2nd quarter. Blair William & Co. IL now owns 189,238 shares of the company’s stock worth $8,620,000 after purchasing an additional 26,597 shares during the period. Seven Eight Capital LP purchased a new stake in Altria Group during the 2nd quarter valued at $1,072,000. Finally, Ieq Capital LLC lifted its holdings in shares of Altria Group by 7.1% during the 2nd quarter. Ieq Capital LLC now owns 65,746 shares of the company’s stock valued at $2,995,000 after buying an additional 4,364 shares during the period. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Price Performance

Shares of NYSE:MO opened at $51.92 on Friday. The company has a market capitalization of $87.99 billion, a P/E ratio of 8.77, a P/E/G ratio of 2.69 and a beta of 0.64. Altria Group, Inc. has a 1-year low of $39.25 and a 1-year high of $58.03. The firm’s 50 day simple moving average is $54.29 and its two-hundred day simple moving average is $51.95.

Altria Group (NYSE:MOGet Free Report) last released its earnings results on Thursday, October 31st. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.03. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. The company had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $5.33 billion. During the same quarter in the previous year, the company earned $1.28 EPS. Altria Group’s revenue for the quarter was up 18.6% on a year-over-year basis. On average, sell-side analysts anticipate that Altria Group, Inc. will post 5.12 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Thursday, December 26th were given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 7.86%. The ex-dividend date was Thursday, December 26th. Altria Group’s dividend payout ratio is currently 68.92%.

Analysts Set New Price Targets

MO has been the subject of several research analyst reports. Citigroup lifted their price objective on Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Morgan Stanley began coverage on shares of Altria Group in a research report on Thursday. They set an “equal weight” rating and a $54.00 price target for the company. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Bank of America raised shares of Altria Group from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $55.00 to $65.00 in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $53.43.

Check Out Our Latest Analysis on Altria Group

Altria Group Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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