TriaGen Wealth Management LLC Acquires Shares of 29,951 Altria Group, Inc. (NYSE:MO)

TriaGen Wealth Management 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 Form 13F filing with the Securities & Exchange Commission. The firm bought 29,951 shares of the company's stock, valued at approximately $1,566,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Aviance Capital Partners LLC lifted its holdings in Altria Group by 0.5% in 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. Fragasso Financial Advisors Inc grew 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 valued at $330,000 after purchasing an additional 199 shares during the period. American Institute for Advanced Investment Management LLP boosted its holdings in shares of Altria Group by 3.5% in the third 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 last quarter. Ridgecrest Wealth Partners LLC grew its position 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 valued at $299,000 after acquiring an additional 200 shares during the period. Finally, First Citizens Financial Corp raised its stake in shares of Altria Group by 4.8% in the fourth quarter. First Citizens Financial Corp now owns 4,402 shares of the company's stock worth $230,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 57.41% of the company's stock.

Analyst Upgrades and Downgrades

MO has been the subject of a number of research analyst reports. Bank of America upgraded Altria Group from a "neutral" rating to a "buy" rating and raised their price objective for the company from $55.00 to $65.00 in a research report on Friday, December 6th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Altria Group from $52.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. StockNews.com upgraded Altria Group from a "hold" rating to a "buy" rating in a report on Monday, November 4th. Stifel Nicolaus increased their price target on shares of Altria Group from $54.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Finally, Barclays upped 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. 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, Altria Group presently has an average rating of "Hold" and an average target price of $53.29.

Altria Group Stock Up 1.3 %

Shares of NYSE:MO opened at $52.20 on Friday. Altria Group, Inc. has a twelve month low of $39.25 and a twelve month high of $58.03. The business has a 50 day moving average price of $53.66 and a 200 day moving average price of $52.29. The company has a market cap of $88.46 billion, a price-to-earnings ratio of 8.82, a PEG ratio of 2.76 and a beta of 0.64.

Altria Group (NYSE:MO - Get Free Report) last posted 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 42.82% and a negative return on equity of 233.80%. Analysts anticipate that Altria Group, Inc. will post 5.13 EPS for the current year.

Altria Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Thursday, December 26th were paid a dividend of $1.02 per share. The ex-dividend date was Thursday, December 26th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.82%. Altria Group's dividend payout ratio (DPR) is presently 68.92%.

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.

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