SignalPoint Asset Management LLC bought a new position in Altria Group, Inc. (NYSE:MO – Get Rating) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,564 shares of the company's stock, valued at approximately $238,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bromfield Sneider Wealth Advisors bought a new position in Altria Group during the first quarter valued at approximately $27,000. Rinkey Investments bought a new position in Altria Group during the fourth quarter valued at approximately $30,000. Masso Torrence Wealth Management Inc. bought a new position in Altria Group during the fourth quarter valued at approximately $31,000. Reitz Capital Advisors LLC bought a new position in Altria Group during the first quarter valued at approximately $31,000. Finally, Okabena Investment Services Inc. bought a new position in Altria Group during the fourth quarter valued at approximately $32,000. Institutional investors own 59.05% of the company's stock.
Get Altria Group alerts:Wall Street Analyst Weigh In
A number of analysts have recently issued reports on MO shares. Cowen reduced their price objective on shares of Altria Group from $56.00 to $45.00 and set a "market perform" rating for the company in a research note on Monday, June 27th. Cowen decreased their price objective on shares of Altria Group from $56.00 to $45.00 and set a "market perform" rating for the company in a report on Monday, June 27th. Morgan Stanley upgraded shares of Altria Group from an "underweight" rating to an "equal weight" rating and decreased their price objective for the company from $47.00 to $43.00 in a report on Friday, June 24th. Bank of America cut their target price on shares of Altria Group from $50.00 to $45.00 and set a "neutral" rating on the stock in a research report on Friday, July 8th. Finally, Sanford C. Bernstein downgraded shares of Altria Group from an "outperform" rating to a "market perform" rating and cut their target price for the company from $58.00 to $53.00 in a research report on Tuesday, May 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Altria Group presently has an average rating of "Hold" and a consensus price target of $47.00.
Altria Group Trading Down 0.3 %
NYSE:MO opened at $44.10 on Friday. The company has a market cap of $79.42 billion, a PE ratio of 45.46, a P/E/G ratio of 2.27 and a beta of 0.62. Altria Group, Inc. has a twelve month low of $41.00 and a twelve month high of $57.05. The company's 50 day moving average is $45.15 and its two-hundred day moving average is $49.97.Altria Group (NYSE:MO – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.25 by $0.01. Altria Group had a net margin of 6.88% and a negative return on equity of 488.86%. The business had revenue of $5.37 billion during the quarter, compared to analysts' expectations of $5.42 billion. During the same period in the previous year, the business posted $1.23 EPS. The business's quarterly revenue was down 4.3% compared to the same quarter last year. As a group, analysts expect that Altria Group, Inc. will post 4.86 EPS for the current fiscal year.
Altria Group Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, July 11th. Shareholders of record on Wednesday, June 15th were given a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, June 14th. This represents a $3.60 dividend on an annualized basis and a yield of 8.16%. Altria Group's payout ratio is currently 371.13%.
About Altria Group
(Get Rating)
Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company provides cigarettes primarily under the Marlboro brand; cigars and pipe tobacco principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands, as well as provides on! oral nicotine pouches.
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