Broderick Brian C Takes Position in Altria Group, Inc. (NYSE:MO)

Broderick Brian C acquired a new stake in Altria Group, Inc. (NYSE:MO) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,822 shares of the company’s stock, valued at approximately $210,000.

A number of other hedge funds also recently made changes to their positions in MO. Maryland Capital Advisors Inc. lifted its position in shares of Altria Group by 154.4% in the first quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock valued at $25,000 after buying an additional 349 shares during the last quarter. Accordant Advisory Group Inc acquired a new stake in shares of Altria Group in the first quarter valued at approximately $26,000. Criterion Capital Advisors LLC acquired a new stake in shares of Altria Group in the fourth quarter valued at approximately $27,000. BNP Paribas acquired a new stake in shares of Altria Group in the first quarter valued at approximately $27,000. Finally, ZRC Wealth Management LLC lifted its position in shares of Altria Group by 67.6% in the fourth quarter. ZRC Wealth Management LLC now owns 677 shares of the company’s stock valued at $28,000 after buying an additional 273 shares during the last quarter. 57.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on MO. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a report on Friday, June 28th. Bank of America lifted their price target on Altria Group from $47.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday. UBS Group lifted their price target on Altria Group from $36.10 to $36.50 and gave the stock a “sell” rating in a report on Monday, April 8th. Argus raised Altria Group to a “hold” rating in a report on Friday, May 31st. Finally, Stifel Nicolaus reissued a “buy” rating and set a $50.00 price target on shares of Altria Group in a report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Altria Group currently has an average rating of “Hold” and a consensus price target of $47.10.

Altria Group Price Performance

Shares of NYSE MO traded up $0.15 during mid-day trading on Thursday, hitting $47.08. 7,347,367 shares of the stock traded hands, compared to its average volume of 10,989,302. Altria Group, Inc. has a twelve month low of $39.06 and a twelve month high of $47.21. The company has a market cap of $80.87 billion, a PE ratio of 9.85, a price-to-earnings-growth ratio of 2.80 and a beta of 0.66. The firm has a 50 day simple moving average of $45.71 and a two-hundred day simple moving average of $43.04.

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

Altria Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Friday, June 14th were issued a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 8.33%. The ex-dividend date was Friday, June 14th. Altria Group’s payout ratio is presently 82.01%.

Insiders Place Their Bets

In other Altria Group news, VP Charles N. Whitaker sold 22,487 shares of Altria Group stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $43.95, for a total transaction of $988,303.65. Following the transaction, the vice president now directly owns 173,485 shares of the company’s stock, valued at approximately $7,624,665.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.09% of the company’s stock.

Altria Group 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.