Altria Group, Inc. (NYSE:MO) Shares Bought by Independent Solutions Wealth Management LLC

Independent Solutions Wealth Management LLC lifted its holdings in shares of Altria Group, Inc. (NYSE:MO) by 6.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,436 shares of the company’s stock after acquiring an additional 3,234 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Altria Group were worth $2,951,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Fifth Third Wealth Advisors LLC lifted its position in shares of Altria Group by 79.9% during the third quarter. Fifth Third Wealth Advisors LLC now owns 14,004 shares of the company’s stock worth $715,000 after purchasing an additional 6,219 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Altria Group during the 3rd quarter worth $1,394,000. Avior Wealth Management LLC lifted its holdings in Altria Group by 34.9% in the 3rd quarter. Avior Wealth Management LLC now owns 14,506 shares of the company’s stock worth $740,000 after buying an additional 3,754 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in Altria Group in the 3rd quarter valued at about $81,000. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of Altria Group during the third quarter valued at about $2,183,000. 57.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Morgan Stanley cut their price target on Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $55.00 to $65.00 in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $53.29.

Altria Group Stock Performance

NYSE MO opened at $58.09 on Friday. Altria Group, Inc. has a one year low of $40.65 and a one year high of $59.67. The company has a 50-day simple moving average of $54.29 and a 200-day simple moving average of $53.45. The firm has a market capitalization of $98.21 billion, a PE ratio of 8.87, a price-to-earnings-growth ratio of 2.89 and a beta of 0.56.

Altria Group (NYSE:MO) last issued its earnings results on Thursday, January 30th. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate 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 analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, March 25th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a yield of 7.02%. Altria Group’s dividend payout ratio (DPR) is presently 62.29%.

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.