HB Wealth Management LLC Has $4.52 Million Stock Position in Altria Group, Inc. (NYSE:MO)

HB Wealth Management LLC raised its holdings in shares of Altria Group, Inc. (NYSE:MO) by 5.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 86,393 shares of the company’s stock after purchasing an additional 4,652 shares during the period. HB Wealth Management LLC’s holdings in Altria Group were worth $4,518,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Franklin Resources Inc. lifted its stake in Altria Group by 2.2% in the third quarter. Franklin Resources Inc. now owns 2,159,890 shares of the company’s stock valued at $107,679,000 after buying an additional 46,697 shares during the period. CWM LLC raised its position in shares of Altria Group by 15.3% in the 3rd quarter. CWM LLC now owns 305,704 shares of the company’s stock valued at $15,603,000 after acquiring an additional 40,574 shares during the period. Czech National Bank boosted its stake in Altria Group by 5.7% during the 4th quarter. Czech National Bank now owns 367,469 shares of the company’s stock worth $19,215,000 after acquiring an additional 19,893 shares during the last quarter. Regal Investment Advisors LLC grew its holdings in Altria Group by 4.2% during the second quarter. Regal Investment Advisors LLC now owns 251,933 shares of the company’s stock valued at $11,476,000 after purchasing an additional 10,079 shares during the period. Finally, Commonwealth Equity Services LLC increased its stake in Altria Group by 2.3% in the third quarter. Commonwealth Equity Services LLC now owns 1,456,308 shares of the company’s stock valued at $74,330,000 after purchasing an additional 32,318 shares in the last quarter. Institutional investors own 57.41% of the company’s stock.

Altria Group Stock Up 1.5 %

NYSE:MO opened at $51.92 on Friday. The company has a market cap of $87.99 billion, a P/E ratio of 8.77, a price-to-earnings-growth ratio of 2.69 and a beta of 0.64. Altria Group, Inc. has a twelve month low of $39.25 and a twelve month high of $58.03. The business has a 50 day moving average price of $54.29 and a two-hundred day moving average price of $51.95.

Altria Group (NYSE:MO) last announced 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. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. The business had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $5.33 billion. During the same quarter in the prior year, the company posted $1.28 earnings per share. The firm’s revenue was up 18.6% on a year-over-year basis. As a group, analysts anticipate that Altria Group, Inc. will post 5.12 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The business 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. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $4.08 annualized dividend and a yield of 7.86%. Altria Group’s payout ratio is presently 68.92%.

Wall Street Analyst Weigh In

MO has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Barclays increased their price target on Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. Morgan Stanley began coverage on Altria Group in a report on Thursday. They set an “equal weight” rating and a $54.00 price objective on the stock. Bank of America raised Altria Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $55.00 to $65.00 in a research note on Friday, December 6th. Finally, Stifel Nicolaus lifted their price target on shares of 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, three have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $53.43.

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.