Legend Financial Advisors Inc. Takes Position in Altria Group, Inc. (NYSE:MO)

Legend Financial Advisors Inc. purchased a new position in Altria Group, Inc. (NYSE:MO) in the fourth quarter, HoldingsChannel reports. The firm purchased 1,000 shares of the company’s stock, valued at approximately $52,000.

Several other institutional investors also recently bought and sold shares of MO. True Wealth Design LLC raised its holdings in Altria Group by 420.0% during the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock valued at $29,000 after buying an additional 462 shares during the period. Valley Wealth Managers Inc. increased its stake in Altria Group by 63.9% in the 2nd quarter. Valley Wealth Managers Inc. now owns 667 shares of the company’s stock worth $30,000 after buying an additional 260 shares during the period. Legacy Investment Solutions LLC purchased a new position in Altria Group in the 3rd quarter worth about $34,000. Peterson Financial Group Inc. purchased a new position in Altria Group in the 3rd quarter worth about $41,000. Finally, Fairman Group LLC increased its stake in Altria Group by 85.1% in the 3rd quarter. Fairman Group LLC now owns 892 shares of the company’s stock worth $46,000 after buying an additional 410 shares during the period. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Stock Down 1.2 %

Shares of NYSE:MO traded down $0.63 during trading on Tuesday, hitting $51.46. 5,361,685 shares of the stock traded hands, compared to its average volume of 5,668,811. The company has a market cap of $87.22 billion, a price-to-earnings ratio of 8.69, a P/E/G ratio of 3.03 and a beta of 0.64. The company has a fifty day moving average price of $54.63 and a two-hundred day moving average price of $51.70. Altria Group, Inc. has a 52-week low of $39.25 and a 52-week high of $58.03.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.38 earnings per share (EPS) 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 firm had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $5.33 billion. During the same quarter last year, the company earned $1.28 EPS. The firm’s revenue for the quarter was up 18.6% compared to the same quarter last year. On average, equities research analysts predict that Altria Group, Inc. will post 5.12 EPS for the current fiscal year.

Altria Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Thursday, December 26th will be paid a $1.02 dividend. The ex-dividend date of this dividend is Thursday, December 26th. This represents a $4.08 dividend on an annualized basis and a yield of 7.93%. Altria Group’s dividend payout ratio is currently 68.92%.

Analyst Upgrades and Downgrades

Several research firms recently commented on MO. Barclays raised their price target on shares of Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 6th. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Bank of America upgraded shares of Altria Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $55.00 to $65.00 in a report on Friday, December 6th. Stifel Nicolaus increased their target price on shares of Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Citigroup increased their target price 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. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Altria Group currently has a consensus rating of “Hold” and an average price target of $53.33.

Altria Group 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.