7,206 Shares in Altria Group, Inc. (NYSE:MO) Bought by Cascade Financial Partners LLC

Cascade Financial Partners LLC bought a new position in shares of Altria Group, Inc. (NYSE:MO - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,206 shares of the company's stock, valued at approximately $377,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Life Planners purchased a new stake in Altria Group in the fourth quarter valued at $25,000. True Wealth Design LLC lifted its position in Altria Group by 420.0% in the third quarter. True Wealth Design LLC now owns 572 shares of the company's stock valued at $29,000 after acquiring an additional 462 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in shares of Altria Group in the third quarter valued at about $34,000. Marshall Investment Management LLC purchased a new stake in shares of Altria Group in the fourth quarter valued at about $32,000. Finally, Promus Capital LLC purchased a new stake in shares of Altria Group in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 57.41% of the company's stock.

Altria Group Stock Down 1.4 %

NYSE MO opened at $58.17 on Wednesday. The firm has a 50-day moving average price of $53.40 and a 200 day moving average price of $53.20. Altria Group, Inc. has a 52-week low of $40.65 and a 52-week high of $59.67. The stock has a market capitalization of $98.35 billion, a P/E ratio of 8.88, a P/E/G ratio of 2.89 and a beta of 0.56.

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Altria Group (NYSE:MO - Get Free Report) last issued its earnings results on Thursday, January 30th. The company reported $1.29 earnings per share for the quarter, topping 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, equities research analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 7.01%. The ex-dividend date is Tuesday, March 25th. Altria Group's payout ratio is 62.29%.

Analyst Ratings Changes

MO has been the subject of a number of research reports. Bank of America raised shares of Altria Group from a "neutral" rating to a "buy" rating and upped their target price for the company from $55.00 to $65.00 in a report on Friday, December 6th. Morgan Stanley reduced their target price on shares of Altria Group from $54.00 to $53.00 and set an "equal weight" rating for the company in a report on Friday, January 31st. Two 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. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price 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.

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