Peterson Wealth Services Takes Position in Altria Group, Inc. $MO

Peterson Wealth Services acquired a new stake in Altria Group, Inc. (NYSE:MO) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 59,430 shares of the company’s stock, valued at approximately $3,926,000. Altria Group makes up approximately 0.9% of Peterson Wealth Services’ holdings, making the stock its 23rd largest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MO. Darwin Wealth Management LLC bought a new stake in shares of Altria Group in the second quarter worth about $27,000. Country Trust Bank grew its position in shares of Altria Group by 400.0% in the 2nd quarter. Country Trust Bank now owns 500 shares of the company’s stock valued at $29,000 after purchasing an additional 400 shares during the period. Anfield Capital Management LLC raised its holdings in Altria Group by 334.7% during the 2nd quarter. Anfield Capital Management LLC now owns 539 shares of the company’s stock worth $32,000 after buying an additional 415 shares during the period. Winnow Wealth LLC bought a new position in Altria Group in the second quarter valued at approximately $35,000. Finally, WFA of San Diego LLC bought a new position in Altria Group in the second quarter valued at approximately $39,000. 57.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Altria Group in a report on Wednesday, October 8th. Stifel Nicolaus dropped their price target on Altria Group from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday. UBS Group upped their price objective on Altria Group from $63.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, Argus raised Altria Group to a “hold” rating in a research report on Tuesday, January 13th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $62.56.

Altria Group Price Performance

Shares of NYSE MO opened at $62.30 on Tuesday. The stock has a market capitalization of $104.59 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 3.42 and a beta of 0.47. The business has a 50-day moving average of $59.19 and a 200-day moving average of $61.82. Altria Group, Inc. has a fifty-two week low of $51.85 and a fifty-two week high of $68.60.

Altria Group (NYSE:MO) last released its earnings results on Thursday, January 29th. The company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.02). The company had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $5.02 billion. Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.The business’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.30 EPS. On average, sell-side analysts expect that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group announced that its Board of Directors has approved a share repurchase plan on Thursday, October 30th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to buy up to 1.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Altria Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 26th were paid a $1.06 dividend. The ex-dividend date of this dividend was Friday, December 26th. This represents a $4.24 annualized dividend and a dividend yield of 6.8%. Altria Group’s dividend payout ratio (DPR) is currently 103.16%.

About Altria Group

Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.