Summit Financial LLC Boosts Stake in Altria Group, Inc. (NYSE:MO)

Summit Financial LLC grew its holdings in Altria Group, Inc. (NYSE:MO - Free Report) by 23.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 37,493 shares of the company's stock after buying an additional 7,229 shares during the quarter. Summit Financial LLC's holdings in Altria Group were worth $1,999,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Financial Life Planners bought a new stake in shares of Altria Group during the 4th quarter valued at $25,000. VSM Wealth Advisory LLC bought a new stake in Altria Group during the fourth quarter worth about $29,000. True Wealth Design LLC grew its holdings in Altria Group by 420.0% in the third quarter. True Wealth Design LLC now owns 572 shares of the company's stock worth $29,000 after purchasing an additional 462 shares during the period. Legacy Investment Solutions LLC bought a new position in shares of Altria Group during the third quarter valued at approximately $34,000. Finally, Marshall Investment Management LLC bought a new position in shares of Altria Group during the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 57.41% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Morgan Stanley cut their price target 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. Deutsche Bank Aktiengesellschaft lowered Altria Group from a "buy" rating to a "hold" rating in a research report on Tuesday. Bank of America raised shares of Altria Group from a "neutral" rating to a "buy" rating and increased their price objective for the company from $55.00 to $65.00 in a research report on Friday, December 6th. Finally, UBS Group raised their price objective on shares of Altria Group from $42.00 to $46.00 and gave the company a "sell" rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $54.00.

Remove Ads

Altria Group Stock Down 2.7 %

Shares of NYSE MO traded down $1.54 during trading on Friday, reaching $56.35. 11,367,545 shares of the company traded hands, compared to its average volume of 8,938,313. The firm has a 50 day simple moving average of $55.64 and a 200-day simple moving average of $53.75. Altria Group, Inc. has a 52-week low of $40.65 and a 52-week high of $60.18. The stock has a market capitalization of $95.26 billion, a PE ratio of 8.59, a P/E/G ratio of 2.89 and a beta of 0.56.

Altria Group (NYSE:MO - Get Free Report) last posted its earnings results on Thursday, January 30th. The company reported $1.29 EPS for the quarter, topping analysts' consensus estimates 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, research analysts predict that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

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 $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 7.24%. The ex-dividend date is Tuesday, March 25th. Altria Group's dividend payout ratio is 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.