Abacus Planning Group Inc. Takes $227,000 Position in Altria Group, Inc. (NYSE:MO)

Abacus Planning Group Inc. purchased a new stake in Altria Group, Inc. (NYSE:MOGet Rating) during the first quarter, HoldingsChannel.com reports. The fund purchased 4,346 shares of the company’s stock, valued at approximately $227,000.

Several other large investors have also recently added to or reduced their stakes in MO. Sierra Capital LLC boosted its stake in Altria Group by 12.6% during the fourth quarter. Sierra Capital LLC now owns 1,788 shares of the company’s stock worth $85,000 after buying an additional 200 shares in the last quarter. Affinity Capital Advisors LLC lifted its holdings in shares of Altria Group by 4.1% during the fourth quarter. Affinity Capital Advisors LLC now owns 5,192 shares of the company’s stock valued at $246,000 after acquiring an additional 203 shares during the period. Klingenstein Fields & Co. LP lifted its holdings in shares of Altria Group by 0.8% during the fourth quarter. Klingenstein Fields & Co. LP now owns 25,449 shares of the company’s stock valued at $1,206,000 after acquiring an additional 206 shares during the period. Wealth Architects LLC lifted its holdings in shares of Altria Group by 1.9% during the fourth quarter. Wealth Architects LLC now owns 10,883 shares of the company’s stock valued at $516,000 after acquiring an additional 208 shares during the period. Finally, Dixon Hughes Goodman Wealth Advisors LLC lifted its holdings in shares of Altria Group by 18.7% during the first quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 1,362 shares of the company’s stock valued at $71,000 after acquiring an additional 215 shares during the period. 59.05% of the stock is currently owned by institutional investors.

A number of brokerages have issued reports on MO. Morgan Stanley cut their price objective on Altria Group from $50.00 to $47.00 and set an “underweight” rating for the company in a report on Friday, June 17th. StockNews.com assumed coverage on Altria Group in a report on Thursday, March 31st. They issued a “buy” rating for the company. Sanford C. Bernstein cut Altria Group from an “outperform” rating to a “market perform” rating and cut their price target for the company from $58.00 to $53.00 in a report on Tuesday, May 10th. The Goldman Sachs Group raised Altria Group from a “neutral” rating to a “buy” rating and lifted their price target for the company from $48.00 to $57.00 in a report on Tuesday, March 22nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Altria Group from $54.00 to $60.00 in a report on Friday, April 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $53.25.

Shares of NYSE:MO opened at $41.50 on Thursday. The stock has a market capitalization of $75.14 billion, a P/E ratio of 25.31, a P/E/G ratio of 2.36 and a beta of 0.50. Altria Group, Inc. has a 1-year low of $41.00 and a 1-year high of $57.05. The business has a 50-day moving average price of $52.51 and a two-hundred day moving average price of $51.04.

Altria Group (NYSE:MOGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.03. The firm had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.88 billion. Altria Group had a negative return on equity of 2,506.92% and a net margin of 11.64%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.07 EPS. Sell-side analysts expect that Altria Group, Inc. will post 4.84 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 11th. Shareholders of record on Wednesday, June 15th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $3.60 annualized dividend and a yield of 8.67%. Altria Group’s dividend payout ratio is currently 219.51%.

Altria Group Company Profile (Get Rating)

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company provides cigarettes primarily under the Marlboro brand; cigars and pipe tobacco principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands, as well as provides on! oral nicotine pouches.

Read More

Want to see what other hedge funds are holding MO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altria Group, Inc. (NYSE:MOGet Rating).

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

Receive News & Ratings for Altria Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altria Group and related companies with MarketBeat.com's FREE daily email newsletter.