Altria Group, Inc. (NYSE:MO) Shares Acquired by Marcum Wealth LLC

Marcum Wealth LLC boosted its position in Altria Group, Inc. (NYSE:MO) by 7.0% during the 4th quarter, Holdings Channel reports. The fund owned 60,763 shares of the company’s stock after acquiring an additional 3,969 shares during the quarter. Marcum Wealth LLC’s holdings in Altria Group were worth $3,177,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Signet Financial Management LLC purchased a new position in shares of Altria Group in the 4th quarter valued at about $278,000. Courier Capital LLC boosted its holdings in Altria Group by 3.7% in the fourth quarter. Courier Capital LLC now owns 15,317 shares of the company’s stock valued at $801,000 after purchasing an additional 549 shares in the last quarter. Pallas Capital Advisors LLC increased its stake in Altria Group by 4.9% in the fourth quarter. Pallas Capital Advisors LLC now owns 13,769 shares of the company’s stock valued at $720,000 after purchasing an additional 639 shares during the last quarter. Future Financial Wealth Managment LLC raised its holdings in Altria Group by 8.0% during the fourth quarter. Future Financial Wealth Managment LLC now owns 4,058 shares of the company’s stock worth $212,000 after purchasing an additional 300 shares in the last quarter. Finally, Wedmont Private Capital lifted its position in shares of Altria Group by 54.6% during the 4th quarter. Wedmont Private Capital now owns 19,447 shares of the company’s stock worth $989,000 after buying an additional 6,872 shares during the last quarter. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Price Performance

Altria Group stock opened at $50.84 on Tuesday. The stock’s 50 day moving average price is $54.50 and its 200 day moving average price is $51.88. Altria Group, Inc. has a 1-year low of $39.25 and a 1-year high of $58.03. The company has a market cap of $86.16 billion, a PE ratio of 8.59, a price-to-earnings-growth ratio of 3.03 and a beta of 0.64.

Altria Group (NYSE:MO) last issued its earnings results on Thursday, October 31st. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.35 by $0.03. The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.33 billion. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. The business’s revenue was up 18.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.28 EPS. On average, equities research analysts anticipate that Altria Group, Inc. will post 5.12 EPS for the current fiscal year.

Altria Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Thursday, December 26th were given a $1.02 dividend. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $4.08 annualized dividend and a dividend yield of 8.03%. Altria Group’s dividend payout ratio is presently 68.92%.

Analysts Set New Price Targets

Several brokerages recently commented on MO. Barclays lifted their price target on shares of Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 6th. Bank of America raised Altria Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $55.00 to $65.00 in a report on Friday, December 6th. Deutsche Bank Aktiengesellschaft raised 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 upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Stifel Nicolaus upped their price objective on Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $53.33.

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.