Altria Group, Inc. (NYSE:MO) Shares Bought by Mainstay Capital Management LLC ADV

Mainstay Capital Management LLC ADV increased its stake in Altria Group, Inc. (NYSE:MO) by 20.8% in the fourth quarter, Holdings Channel reports. The firm owned 19,840 shares of the company’s stock after purchasing an additional 3,411 shares during the period. Mainstay Capital Management LLC ADV’s holdings in Altria Group were worth $1,037,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of MO. Silver Oak Securities Incorporated boosted its stake in Altria Group by 10.6% in the 3rd quarter. Silver Oak Securities Incorporated now owns 12,368 shares of the company’s stock worth $631,000 after purchasing an additional 1,185 shares in the last quarter. Ballentine Partners LLC boosted its stake in Altria Group by 5.2% in the 3rd quarter. Ballentine Partners LLC now owns 16,099 shares of the company’s stock worth $822,000 after purchasing an additional 801 shares in the last quarter. Lake Street Advisors Group LLC boosted its stake in Altria Group by 2.9% in the 3rd quarter. Lake Street Advisors Group LLC now owns 10,875 shares of the company’s stock worth $566,000 after purchasing an additional 311 shares in the last quarter. NorthCrest Asset Manangement LLC purchased a new position in Altria Group during the 3rd quarter worth approximately $231,000. Finally, Modera Wealth Management LLC raised its position in Altria Group by 10.0% during the 3rd quarter. Modera Wealth Management LLC now owns 21,461 shares of the company’s stock worth $1,095,000 after buying an additional 1,953 shares during the last quarter. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MO has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Bank of America raised shares of Altria Group from a “neutral” rating to a “buy” rating and raised their price target for the stock from $55.00 to $65.00 in a research report on Friday, December 6th. Morgan Stanley reduced their price target on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Stifel Nicolaus raised their price target on shares of 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, three have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $53.29.

Altria Group Price Performance

NYSE:MO opened at $55.01 on Monday. The firm has a market cap of $93.22 billion, a price-to-earnings ratio of 8.40, a price-to-earnings-growth ratio of 2.89 and a beta of 0.64. The company has a 50 day moving average price of $52.61 and a 200-day moving average price of $52.75. Altria Group, Inc. has a 1-year low of $39.25 and a 1-year high of $58.03.

Altria Group (NYSE:MO) last posted its earnings results on Thursday, January 30th. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.01. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. On average, sell-side analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Thursday, December 26th were issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 7.42%. The ex-dividend date of this dividend was Thursday, December 26th. Altria Group’s payout ratio is presently 62.29%.

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.