Checchi Capital Advisers LLC Boosts Stock Position in Altria Group, Inc. (NYSE:MO)

Checchi Capital Advisers LLC raised its stake in Altria Group, Inc. (NYSE:MO) by 4.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,289 shares of the company’s stock after purchasing an additional 604 shares during the period. Checchi Capital Advisers LLC’s holdings in Altria Group were worth $799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Life Planners purchased a new stake in shares of Altria Group during the fourth quarter worth about $25,000. True Wealth Design LLC grew its stake in shares of 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 acquiring an additional 462 shares during the last quarter. Marshall Investment Management LLC purchased a new stake in shares of Altria Group during the fourth quarter worth about $32,000. Legacy Investment Solutions LLC purchased a new stake in shares of Altria Group during the third quarter worth about $34,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Altria Group during the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MO shares. Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $55.00 to $65.00 in a research note on Friday, December 6th. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Stifel Nicolaus upped their target price on Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Morgan Stanley dropped their target price on Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $53.29.

Altria Group Trading Down 2.0 %

Shares of NYSE:MO opened at $54.86 on Thursday. Altria Group, Inc. has a 12-month low of $39.25 and a 12-month high of $58.03. The company has a market capitalization of $92.98 billion, a PE ratio of 8.38, a PEG ratio of 2.89 and a beta of 0.64. The business has a 50 day moving average of $52.69 and a two-hundred day moving average of $52.83.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. Equities research analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 7.44%. The ex-dividend date of this dividend was Thursday, December 26th. Altria Group’s payout ratio is presently 62.29%.

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.