Altria Group, Inc. (NYSE:MO) Stake Boosted by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC increased its stake in Altria Group, Inc. (NYSE:MO) by 7.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,164 shares of the company’s stock after purchasing an additional 1,323 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Altria Group were worth $950,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Kentucky Trust Co purchased a new position in Altria Group in the 4th quarter worth about $115,000. Viewpoint Capital Management LLC increased its stake in Altria Group by 19.2% in the 4th quarter. Viewpoint Capital Management LLC now owns 23,281 shares of the company’s stock worth $1,217,000 after purchasing an additional 3,746 shares in the last quarter. Gladstone Institutional Advisory LLC increased its stake in Altria Group by 2.0% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 11,653 shares of the company’s stock worth $609,000 after purchasing an additional 232 shares in the last quarter. TFB Advisors LLC increased its stake in Altria Group by 5.2% in the 4th quarter. TFB Advisors LLC now owns 10,576 shares of the company’s stock worth $553,000 after purchasing an additional 522 shares in the last quarter. Finally, Capital Advisors Inc. OK increased its stake in Altria Group by 7.6% in the 4th quarter. Capital Advisors Inc. OK now owns 18,236 shares of the company’s stock worth $954,000 after purchasing an additional 1,288 shares in the last quarter. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Price Performance

Shares of Altria Group stock opened at $53.35 on Thursday. The firm has a market cap of $90.42 billion, a price-to-earnings ratio of 8.15, a P/E/G ratio of 2.80 and a beta of 0.64. Altria Group, Inc. has a 52-week low of $39.25 and a 52-week high of $58.03. The stock has a 50-day simple moving average of $52.96 and a 200-day simple moving average of $52.54.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.01. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. As a group, equities research analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, December 26th were issued a dividend of $1.02 per share. The ex-dividend date was Thursday, December 26th. This represents a $4.08 annualized dividend and a dividend yield of 7.65%. Altria Group’s dividend payout ratio is 62.29%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MO. Bank of America raised Altria Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $55.00 to $65.00 in a research note on Friday, December 6th. Deutsche Bank Aktiengesellschaft lifted their target price on Altria Group from $52.00 to $60.00 and gave the company 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. Morgan Stanley lowered their target price on Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Finally, Stifel Nicolaus lifted their target price on Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $53.29.

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.