Moran Wealth Management LLC Grows Position in Altria Group, Inc. (NYSE:MO)

Moran Wealth Management LLC increased its holdings in shares of Altria Group, Inc. (NYSE:MOFree Report) by 119.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,025 shares of the company’s stock after purchasing an additional 17,410 shares during the period. Moran Wealth Management LLC’s holdings in Altria Group were worth $1,292,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Congress Wealth Management LLC DE lifted its holdings in Altria Group by 3.8% in the third quarter. Congress Wealth Management LLC DE now owns 7,160 shares of the company’s stock valued at $301,000 after acquiring an additional 263 shares during the period. Resonant Capital Advisors LLC increased its holdings in Altria Group by 5.7% in the third quarter. Resonant Capital Advisors LLC now owns 4,738 shares of the company’s stock valued at $204,000 after buying an additional 254 shares in the last quarter. Teamwork Financial Advisors LLC increased its holdings in Altria Group by 12.9% in the third quarter. Teamwork Financial Advisors LLC now owns 8,809 shares of the company’s stock valued at $370,000 after buying an additional 1,006 shares in the last quarter. AlphaMark Advisors LLC increased its holdings in Altria Group by 15.3% in the third quarter. AlphaMark Advisors LLC now owns 3,018 shares of the company’s stock valued at $127,000 after buying an additional 400 shares in the last quarter. Finally, Triumph Capital Management increased its holdings in Altria Group by 33.5% in the third quarter. Triumph Capital Management now owns 7,201 shares of the company’s stock valued at $310,000 after buying an additional 1,807 shares in the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Trading Up 0.7 %

NYSE MO traded up $0.31 during trading hours on Wednesday, reaching $45.81. 2,930,810 shares of the company traded hands, compared to its average volume of 11,632,459. The company has a 50 day moving average of $43.06 and a two-hundred day moving average of $41.63. The stock has a market capitalization of $78.68 billion, a PE ratio of 9.58, a PEG ratio of 2.75 and a beta of 0.66. Altria Group, Inc. has a 12 month low of $39.06 and a 12 month high of $46.34.

Altria Group (NYSE:MOGet Free Report) last issued its earnings results on Thursday, April 25th. The company reported $1.15 EPS for the quarter, hitting the consensus estimate of $1.15. The company had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.71 billion. Altria Group had a negative return on equity of 222.80% and a net margin of 34.81%. The business’s revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.18 EPS. On average, equities research analysts anticipate that Altria Group, Inc. will post 5.11 earnings per share for the current year.

Altria Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, March 25th were given a dividend of $0.98 per share. The ex-dividend date of this dividend was Friday, March 22nd. This represents a $3.92 dividend on an annualized basis and a yield of 8.56%. Altria Group’s dividend payout ratio is currently 82.01%.

Altria Group announced that its board has authorized a share repurchase program on Thursday, February 1st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 1.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $50.00 price target on shares of Altria Group in a report on Monday, March 25th. StockNews.com downgraded shares of Altria Group from a “buy” rating to a “hold” rating in a report on Sunday, April 14th. Finally, UBS Group lifted their price objective on Altria Group from $36.10 to $36.50 and gave the company a “sell” rating in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Altria Group presently has an average rating of “Hold” and an average price target of $46.90.

Get Our Latest Analysis on Altria Group

Insider Buying and Selling

In related news, VP Charles N. Whitaker sold 22,487 shares of Altria Group stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $43.95, for a total value of $988,303.65. Following the sale, the vice president now directly owns 173,485 shares in the company, valued at approximately $7,624,665.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.09% of the stock is owned by company insiders.

Altria Group Profile

(Free Report)

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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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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