49 Wealth Management LLC Acquires New Stake in Altria Group, Inc. $MO

49 Wealth Management LLC bought a new position in shares of Altria Group, Inc. (NYSE:MO) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 9,619 shares of the company’s stock, valued at approximately $635,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Darwin Wealth Management LLC acquired a new position in shares of Altria Group in the second quarter worth approximately $27,000. Country Trust Bank increased its position in Altria Group by 400.0% during the 2nd quarter. Country Trust Bank now owns 500 shares of the company’s stock valued at $29,000 after purchasing an additional 400 shares during the period. Anfield Capital Management LLC raised its holdings in Altria Group by 334.7% during the 2nd quarter. Anfield Capital Management LLC now owns 539 shares of the company’s stock worth $32,000 after purchasing an additional 415 shares during the last quarter. Winnow Wealth LLC acquired a new position in shares of Altria Group in the 2nd quarter worth approximately $35,000. Finally, WFA of San Diego LLC acquired a new position in shares of Altria Group in the 2nd quarter worth approximately $39,000. Institutional investors own 57.41% of the company’s stock.

Analysts Set New Price Targets

MO has been the subject of several recent analyst reports. UBS Group increased their price objective on shares of Altria Group from $63.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Barclays upped their price target on shares of Altria Group from $57.00 to $63.00 and gave the company an “underweight” rating in a research report on Monday, February 23rd. Argus raised Altria Group to a “hold” rating in a research report on Tuesday, January 13th. Stifel Nicolaus dropped their price objective on Altria Group from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Finally, Citigroup upped their target price on Altria Group from $57.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Altria Group presently has a consensus rating of “Hold” and a consensus price target of $64.33.

Altria Group Stock Performance

MO stock opened at $68.98 on Friday. The stock’s 50 day simple moving average is $62.33 and its 200 day simple moving average is $62.54. The company has a market cap of $115.32 billion, a P/E ratio of 16.78, a price-to-earnings-growth ratio of 2.97 and a beta of 0.47. Altria Group, Inc. has a fifty-two week low of $52.82 and a fifty-two week high of $70.51.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, January 29th. The company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.02). Altria Group had a net margin of 29.84% and a negative return on equity of 287.61%. During the same period last year, the firm posted $1.30 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Equities analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, March 25th will be paid a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend is Wednesday, March 25th. Altria Group’s dividend payout ratio (DPR) is 103.16%.

Altria Group Profile

Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.