SVB Wealth LLC Buys New Shares in Altria Group, Inc. (NYSE:MO)

SVB Wealth LLC acquired a new position in shares of Altria Group, Inc. (NYSE:MO - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 42,465 shares of the company's stock, valued at approximately $2,220,000.

A number of other large investors have also added to or reduced their stakes in MO. Financial Advocates Investment Management acquired a new position in Altria Group during the 3rd quarter worth approximately $209,000. Gladstone Institutional Advisory LLC grew its position in Altria Group by 9.6% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 11,421 shares of the company's stock worth $583,000 after acquiring an additional 999 shares during the last quarter. Capital Advisors Inc. OK increased its holdings in Altria Group by 2.6% in the 3rd quarter. Capital Advisors Inc. OK now owns 16,948 shares of the company's stock worth $865,000 after purchasing an additional 431 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Altria Group by 39.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 38,958 shares of the company's stock worth $1,988,000 after purchasing an additional 11,101 shares in the last quarter. Finally, Chicago Partners Investment Group LLC raised its position in Altria Group by 21.4% in the third quarter. Chicago Partners Investment Group LLC now owns 14,090 shares of the company's stock valued at $702,000 after purchasing an additional 2,485 shares during the last quarter. Institutional investors own 57.41% of the company's stock.

Altria Group Trading Down 0.6 %

Shares of NYSE MO traded down $0.35 during trading hours on Wednesday, reaching $55.95. The stock had a trading volume of 7,409,587 shares, compared to its average volume of 7,879,282. The business's fifty day moving average price is $52.90 and its two-hundred day moving average price is $52.99. The firm has a market cap of $94.60 billion, a price-to-earnings ratio of 8.54, a P/E/G ratio of 2.89 and a beta of 0.64. Altria Group, Inc. has a 52-week low of $40.65 and a 52-week high of $58.59.

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

Altria Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 7.29%. The ex-dividend date of this dividend is Tuesday, March 25th. Altria Group's dividend payout ratio (DPR) is presently 62.29%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MO shares. 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. Barclays boosted their target price on Altria Group from $45.00 to $46.00 and gave the company an "underweight" rating in a research report on Wednesday, November 6th. Finally, Bank of America upgraded Altria Group from a "neutral" rating to a "buy" rating and raised their target price for the company from $55.00 to $65.00 in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock 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.