Perigon Wealth Management LLC Boosts Stake in Altria Group, Inc. (NYSE:MO)

Perigon Wealth Management LLC raised its holdings in shares of Altria Group, Inc. (NYSE:MO) by 87.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,771 shares of the company’s stock after buying an additional 24,615 shares during the quarter. Perigon Wealth Management LLC’s holdings in Altria Group were worth $2,700,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. True Wealth Design LLC grew its position in Altria Group by 420.0% during the third quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after buying an additional 462 shares in the last quarter. Legacy Investment Solutions LLC bought a new stake in Altria Group during the third quarter worth about $34,000. Peterson Financial Group Inc. bought a new stake in Altria Group during the third quarter worth about $41,000. Fairman Group LLC lifted its stake in Altria Group by 85.1% during the third quarter. Fairman Group LLC now owns 892 shares of the company’s stock worth $46,000 after purchasing an additional 410 shares during the last quarter. Finally, IFS Advisors LLC lifted its stake in Altria Group by 330.4% during the fourth quarter. IFS Advisors LLC now owns 977 shares of the company’s stock worth $51,000 after purchasing an additional 750 shares during the last quarter. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MO has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Bank of America raised Altria Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $55.00 to $65.00 in a research note on Friday, December 6th. Barclays lifted their price target on Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 6th. Finally, Citigroup lifted their price target on Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $53.43.

Altria Group Trading Up 0.4 %

NYSE MO opened at $52.81 on Thursday. Altria Group, Inc. has a 1-year low of $39.25 and a 1-year high of $58.03. The stock has a 50-day moving average of $53.81 and a 200-day moving average of $52.29. The firm has a market cap of $89.50 billion, a PE ratio of 8.92, a price-to-earnings-growth ratio of 2.67 and a beta of 0.64.

Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.03. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. The business had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $5.33 billion. During the same quarter last year, the business posted $1.28 EPS. The business’s revenue was up 18.6% on a year-over-year basis. As a group, equities research analysts forecast that Altria Group, Inc. will post 5.13 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 26th were issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 7.73%. The ex-dividend date was Thursday, December 26th. Altria Group’s dividend payout ratio (DPR) is currently 68.92%.

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.