Prevail Innovative Wealth Advisors LLC Takes $215,000 Position in Altria Group, Inc. (NYSE:MO)

Prevail Innovative Wealth Advisors LLC bought a new position in shares of Altria Group, Inc. (NYSE:MO) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,116 shares of the company’s stock, valued at approximately $215,000.

A number of other hedge funds have also added to or reduced their stakes in MO. Public Sector Pension Investment Board lifted its position in shares of Altria Group by 10.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 72,830 shares of the company’s stock valued at $3,717,000 after acquiring an additional 6,800 shares during the period. Fred Alger Management LLC raised its holdings in shares of Altria Group by 3.7% during the third quarter. Fred Alger Management LLC now owns 84,863 shares of the company’s stock valued at $4,331,000 after purchasing an additional 3,063 shares during the period. Arete Wealth Advisors LLC bought a new position in shares of Altria Group during the 3rd quarter worth about $963,000. Cobblestone Capital Advisors LLC NY grew its stake in shares of Altria Group by 3.4% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 8,425 shares of the company’s stock valued at $430,000 after buying an additional 277 shares during the period. Finally, Semmax Financial Advisors Inc. grew its stake in shares of Altria Group by 3.0% in the 3rd quarter. Semmax Financial Advisors Inc. now owns 21,036 shares of the company’s stock valued at $1,145,000 after buying an additional 612 shares during the period. 57.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on MO. 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 report on Friday, January 31st. Bank of America upgraded 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 report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Altria Group presently has a consensus rating of “Hold” and an average price target of $53.29.

Altria Group Trading Down 0.2 %

NYSE MO opened at $58.17 on Monday. The business has a fifty day simple moving average of $55.07 and a 200 day simple moving average of $53.60. Altria Group, Inc. has a 12 month low of $40.65 and a 12 month high of $59.67. The firm has a market capitalization of $98.35 billion, a P/E ratio of 8.88, a PEG ratio of 2.89 and a beta of 0.56.

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

Altria Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th will be issued 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 7.01%. Altria Group’s dividend payout ratio (DPR) is currently 62.29%.

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.