Avaii Wealth Management LLC Acquires 4,248 Shares of Altria Group, Inc. (NYSE:MO)

Avaii Wealth Management LLC increased its holdings in shares of Altria Group, Inc. (NYSE:MO) by 74.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 9,981 shares of the company’s stock after purchasing an additional 4,248 shares during the period. Avaii Wealth Management LLC’s holdings in Altria Group were worth $599,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Redwood Park Advisors LLC bought a new position in shares of Altria Group in the fourth quarter valued at about $26,000. VSM Wealth Advisory LLC bought a new stake in shares of Altria Group during the fourth quarter worth approximately $29,000. Marshall Investment Management LLC bought a new stake in shares of Altria Group during the fourth quarter worth approximately $32,000. Promus Capital LLC bought a new stake in shares of Altria Group during the fourth quarter worth approximately $33,000. Finally, Pinney & Scofield Inc. bought a new stake in shares of Altria Group during the fourth quarter worth approximately $33,000. Institutional investors own 57.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MO. Barclays boosted their price target on Altria Group from $46.00 to $49.00 and gave the company an “underweight” rating in a research note on Friday, May 2nd. UBS Group boosted their price target on Altria Group from $46.00 to $47.00 and gave the company a “sell” rating in a research note on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft set a $60.00 price target on Altria Group in a research note on Tuesday, April 1st. Stifel Nicolaus boosted their price target on Altria Group from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Finally, Needham & Company LLC upgraded Altria Group to a “hold” rating in a research note on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Altria Group presently has an average rating of “Hold” and an average price target of $56.00.

Altria Group Price Performance

Shares of MO opened at $59.74 on Friday. Altria Group, Inc. has a one year low of $43.83 and a one year high of $61.26. The company has a market cap of $100.64 billion, a P/E ratio of 9.12, a P/E/G ratio of 2.89 and a beta of 0.60. The firm has a 50 day simple moving average of $58.75 and a two-hundred day simple moving average of $56.11.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.19 by $0.04. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. The business had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the previous year, the business earned $1.15 earnings per share. The company’s revenue was down 4.2% on a year-over-year basis. On average, analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Monday, June 16th will be issued a dividend of $1.02 per share. The ex-dividend date is Monday, June 16th. This represents a $4.08 annualized dividend and a dividend yield of 6.83%. Altria Group’s dividend payout ratio (DPR) is presently 68.34%.

Altria Group Company 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.