Commonwealth Equity Services LLC Boosts Holdings in Altria Group, Inc. (NYSE:MO)

Commonwealth Equity Services LLC increased its position in Altria Group, Inc. (NYSE:MO) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,472,778 shares of the company’s stock after purchasing an additional 13,165 shares during the period. Commonwealth Equity Services LLC owned approximately 0.08% of Altria Group worth $59,412,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MO. Altshuler Shaham Ltd purchased a new stake in shares of Altria Group during the 3rd quarter valued at about $26,000. Nemes Rush Group LLC lifted its position in Altria Group by 103.2% during the third quarter. Nemes Rush Group LLC now owns 636 shares of the company’s stock valued at $27,000 after purchasing an additional 323 shares during the period. ZRC Wealth Management LLC lifted its position in Altria Group by 67.6% during the fourth quarter. ZRC Wealth Management LLC now owns 677 shares of the company’s stock valued at $28,000 after purchasing an additional 273 shares during the period. Criterion Capital Advisors LLC purchased a new stake in Altria Group in the fourth quarter worth approximately $27,000. Finally, Financial Gravity Asset Management Inc. grew its position in Altria Group by 1,800.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 703 shares of the company’s stock worth $30,000 after purchasing an additional 666 shares during the period. 57.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. UBS Group increased their target price on Altria Group from $36.10 to $36.50 and gave the company a “sell” rating in a report on Monday, April 8th. StockNews.com downgraded shares of Altria Group from a “buy” rating to a “hold” rating in a report on Sunday, April 14th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $50.00 target price on shares of Altria Group in a report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $46.90.

Altria Group Trading Down 0.9 %

Shares of NYSE:MO opened at $43.59 on Friday. The stock has a 50 day moving average of $42.46 and a 200 day moving average of $41.51. The company has a market cap of $74.87 billion, a PE ratio of 9.12, a price-to-earnings-growth ratio of 2.68 and a beta of 0.66. Altria Group, Inc. has a 12-month low of $39.06 and a 12-month high of $46.86.

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

Altria Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, March 25th were issued a $0.98 dividend. The ex-dividend date was Friday, March 22nd. This represents a $3.92 dividend on an annualized basis and a yield of 8.99%. Altria Group’s dividend payout ratio is presently 82.01%.

Altria Group declared that its Board of Directors has authorized a share buyback program on Thursday, February 1st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to buy up to 1.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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.