Sagespring Wealth Partners LLC Takes Position in Altria Group, Inc. (NYSE:MO)

Sagespring Wealth Partners LLC acquired a new stake in Altria Group, Inc. (NYSE:MO - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 59,108 shares of the company's stock, valued at approximately $3,091,000.

Other hedge funds have also recently bought and sold shares of the company. Financial Life Planners purchased a new position in Altria Group during the fourth quarter worth $25,000. Redwood Park Advisors LLC acquired a new stake in Altria Group in the 4th quarter worth about $26,000. VSM Wealth Advisory LLC purchased a new stake in Altria Group in the 4th quarter valued at about $29,000. Marshall Investment Management LLC acquired a new position in shares of Altria Group during the 4th quarter valued at about $32,000. Finally, Promus Capital LLC purchased a new position in shares of Altria Group during the 4th quarter worth about $33,000. 57.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on MO shares. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on shares of Altria Group in a research note on Tuesday, April 1st. Morgan Stanley cut their price target on shares of Altria Group from $54.00 to $53.00 and set an "equal weight" rating on the stock in a report on Friday, January 31st. Finally, UBS Group boosted their price objective on shares of Altria Group from $42.00 to $46.00 and gave the stock a "sell" rating in a research note on Tuesday, April 1st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $54.00.

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Altria Group Stock Up 0.8 %

Shares of NYSE MO traded up $0.44 during trading on Tuesday, reaching $57.57. 6,382,766 shares of the stock were exchanged, compared to its average volume of 9,005,965. Altria Group, Inc. has a twelve month low of $40.72 and a twelve month high of $60.18. The business's 50-day moving average price is $56.31 and its 200 day moving average price is $54.10. The company has a market capitalization of $97.33 billion, a price-to-earnings ratio of 8.79, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54.

Altria Group (NYSE:MO - Get Free Report) last announced its quarterly earnings data 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%. As a group, sell-side analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, March 25th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 7.09%. The ex-dividend date is Tuesday, March 25th. 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.