Atria Wealth Solutions Inc. Raises Stake in Altria Group, Inc. (NYSE:MO)

Atria Wealth Solutions Inc. grew its stake in Altria Group, Inc. (NYSE:MO) by 16.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 204,754 shares of the company’s stock after purchasing an additional 28,555 shares during the period. Atria Wealth Solutions Inc.’s holdings in Altria Group were worth $10,752,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Aviance Capital Partners LLC raised its stake in shares of Altria Group by 0.5% during the 3rd quarter. Aviance Capital Partners LLC now owns 40,362 shares of the company’s stock worth $2,060,000 after buying an additional 191 shares during the period. Horst & Graben Wealth Management LLC raised its stake in shares of Altria Group by 1.5% during the 4th quarter. Horst & Graben Wealth Management LLC now owns 13,015 shares of the company’s stock worth $681,000 after buying an additional 198 shares during the period. Fragasso Financial Advisors Inc raised its stake in shares of Altria Group by 3.3% during the 4th quarter. Fragasso Financial Advisors Inc now owns 6,302 shares of the company’s stock worth $330,000 after buying an additional 199 shares during the period. American Institute for Advanced Investment Management LLP raised its stake in shares of Altria Group by 3.5% during the 3rd quarter. American Institute for Advanced Investment Management LLP now owns 5,860 shares of the company’s stock worth $299,000 after buying an additional 200 shares during the period. Finally, Ridgecrest Wealth Partners LLC raised its stake in shares of Altria Group by 3.5% during the 3rd quarter. Ridgecrest Wealth Partners LLC now owns 5,851 shares of the company’s stock worth $299,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on MO. Deutsche Bank Aktiengesellschaft upped their target price on Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Barclays increased their price objective on Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research note on Wednesday, November 6th. Stifel Nicolaus increased their price objective on Altria Group from $54.00 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. Finally, Morgan Stanley reduced their price objective on Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $53.29.

Altria Group Stock Down 1.1 %

Shares of MO opened at $52.70 on Wednesday. Altria Group, Inc. has a 52-week low of $39.25 and a 52-week high of $58.03. The company has a market capitalization of $89.31 billion, a PE ratio of 8.05, a price-to-earnings-growth ratio of 2.80 and a beta of 0.64. The stock has a fifty day simple moving average of $52.65 and a two-hundred day simple moving average of $52.65.

Altria Group (NYSE:MO) last issued its earnings results on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The firm 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. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.74%. The ex-dividend date was Thursday, December 26th. Altria Group’s dividend payout ratio is presently 62.29%.

About Altria Group

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.