Independent Solutions Wealth Management LLC Has $2.72 Million Stock Holdings in Altria Group, Inc. (NYSE:MO)

Independent Solutions Wealth Management LLC lowered its stake in Altria Group, Inc. (NYSE:MO) by 3.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 53,202 shares of the company’s stock after selling 2,168 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Altria Group were worth $2,715,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp grew its holdings in shares of Altria Group by 1.2% in the 2nd quarter. Fifth Third Bancorp now owns 78,728 shares of the company’s stock valued at $3,586,000 after buying an additional 962 shares during the period. Fifth Third Wealth Advisors LLC bought a new stake in shares of Altria Group in the second quarter worth about $355,000. GYL Financial Synergies LLC raised its position in shares of Altria Group by 3.4% during the second quarter. GYL Financial Synergies LLC now owns 7,122 shares of the company’s stock worth $324,000 after purchasing an additional 233 shares during the period. &PARTNERS lifted its holdings in shares of Altria Group by 129.8% during the 2nd quarter. &PARTNERS now owns 29,303 shares of the company’s stock valued at $1,335,000 after purchasing an additional 16,552 shares in the last quarter. Finally, JB Capital LLC grew its position in shares of Altria Group by 7.3% in the 2nd quarter. JB Capital LLC now owns 5,423 shares of the company’s stock valued at $247,000 after purchasing an additional 368 shares during the period. 57.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on MO shares. UBS Group raised their target price on shares of Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a report on Monday, September 9th. Citigroup raised their price objective on shares of Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Finally, Stifel Nicolaus upped their price objective on Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $53.33.

Altria Group Trading Up 0.3 %

Shares of Altria Group stock traded up $0.16 during trading hours on Thursday, reaching $53.41. 3,724,415 shares of the company’s stock were exchanged, compared to its average volume of 9,547,941. The stock has a market cap of $90.52 billion, a P/E ratio of 9.02, a P/E/G ratio of 3.02 and a beta of 0.63. The company has a 50 day moving average of $53.85 and a two-hundred day moving average of $51.02. Altria Group, Inc. has a fifty-two week low of $39.25 and a fifty-two week high of $58.03.

Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.03. The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.33 billion. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. Altria Group’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.28 EPS. As a group, analysts expect that Altria Group, Inc. will post 5.12 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Thursday, December 26th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 7.64%. The ex-dividend date is Thursday, December 26th. Altria Group’s dividend payout ratio is 68.92%.

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.