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

Taylor & Morgan Wealth Management LLC increased its holdings in Altria Group, Inc. (NYSE:MO) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,468 shares of the company’s stock after acquiring an additional 237 shares during the quarter. Taylor & Morgan Wealth Management LLC’s holdings in Altria Group were worth $652,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. True Wealth Design LLC grew its holdings in Altria Group by 420.0% during the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after acquiring an additional 462 shares in the last quarter. Legacy Investment Solutions LLC bought a new stake in Altria Group in the third quarter valued at about $34,000. Peterson Financial Group Inc. bought a new stake in Altria Group in the third quarter valued at about $41,000. Fairman Group LLC raised its stake in Altria Group by 85.1% during the third quarter. Fairman Group LLC now owns 892 shares of the company’s stock valued at $46,000 after buying an additional 410 shares in the last quarter. Finally, IFS Advisors LLC lifted its holdings in Altria Group by 330.4% during the 4th quarter. IFS Advisors LLC now owns 977 shares of the company’s stock worth $51,000 after buying an additional 750 shares during the last quarter. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Wall Street Analyst Weigh In

MO has been the topic of several research reports. Deutsche Bank Aktiengesellschaft upped their price target on Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Barclays raised their price target on shares of Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 6th. Citigroup increased their price objective on shares of Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Morgan Stanley assumed coverage on Altria Group in a research note on Thursday. They issued an “equal weight” rating and a $54.00 target price for the company. Finally, StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $53.43.

Altria Group Price Performance

Altria Group stock opened at $51.92 on Friday. Altria Group, Inc. has a 12-month low of $39.25 and a 12-month high of $58.03. The stock has a market capitalization of $87.99 billion, a PE ratio of 8.77, a price-to-earnings-growth ratio of 2.69 and a beta of 0.64. The firm has a 50 day simple moving average of $54.29 and a 200-day simple moving average of $51.95.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.38 earnings per share for the quarter, beating 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 analyst estimates of $5.33 billion. During the same quarter in the prior year, the firm posted $1.28 earnings per share. The company’s revenue was up 18.6% on a year-over-year basis. On average, analysts forecast that Altria Group, Inc. will post 5.12 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Thursday, December 26th were issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 7.86%. The ex-dividend date of this dividend was Thursday, December 26th. Altria Group’s payout ratio is 68.92%.

About Altria Group

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.