Silverlake Wealth Management LLC Has $1.45 Million Holdings in Altria Group, Inc. (NYSE:MO)

Silverlake Wealth Management LLC lifted its position in shares of Altria Group, Inc. (NYSE:MO) by 6.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,327 shares of the company’s stock after acquiring an additional 1,825 shares during the quarter. Silverlake Wealth Management LLC’s holdings in Altria Group were worth $1,446,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Maryland Capital Advisors Inc. increased its stake in Altria Group by 154.4% during the 1st quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock worth $25,000 after purchasing an additional 349 shares in the last quarter. BNP Paribas acquired a new position in shares of Altria Group during the 1st quarter worth approximately $27,000. MFA Wealth Advisors LLC acquired a new stake in Altria Group during the second quarter worth approximately $27,000. Pineridge Advisors LLC acquired a new stake in Altria Group during the 4th quarter worth approximately $28,000. Finally, Westend Capital Management LLC bought a new position in Altria Group during the 1st quarter worth $29,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Price Performance

Shares of Altria Group stock traded up $0.16 during trading hours on Friday, hitting $49.84. 4,542,807 shares of the company’s stock traded hands, compared to its average volume of 10,065,752. The stock has a market capitalization of $85.61 billion, a price-to-earnings ratio of 10.43, a PEG ratio of 2.90 and a beta of 0.65. Altria Group, Inc. has a 12-month low of $39.06 and a 12-month high of $54.95. The company has a fifty day simple moving average of $51.55 and a 200-day simple moving average of $47.53.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.04). Altria Group had a net margin of 42.25% and a negative return on equity of 232.55%. The firm had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period last year, the company posted $1.31 earnings per share. Altria Group’s revenue for the quarter was up 14.2% on a year-over-year basis. On average, analysts forecast that Altria Group, Inc. will post 5.11 EPS for the current fiscal year.

Altria Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Monday, September 16th were given a $1.02 dividend. The ex-dividend date was Monday, September 16th. This represents a $4.08 annualized dividend and a dividend yield of 8.19%. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s payout ratio is 85.36%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Citigroup boosted their price objective on shares of Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday. UBS Group boosted their price objective on Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a research note on Monday, September 9th. Bank of America boosted their price objective on Altria Group from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. StockNews.com downgraded shares of Altria Group from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Stifel Nicolaus boosted their target price on shares of Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $50.17.

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.