Chancellor Financial Group WB LP Invests $316,000 in Altria Group, Inc. (NYSE:MO)

Chancellor Financial Group WB LP purchased a new stake in shares of Altria Group, Inc. (NYSE:MO) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 6,046 shares of the company’s stock, valued at approximately $316,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Financial Life Planners purchased a new position in shares of Altria Group during the 4th quarter valued at approximately $25,000. Redwood Park Advisors LLC acquired a new position in Altria Group during the 4th quarter worth $26,000. VSM Wealth Advisory LLC bought a new stake in shares of Altria Group in the 4th quarter worth about $29,000. Marshall Investment Management LLC acquired a new stake in shares of Altria Group in the 4th quarter valued at about $32,000. Finally, Promus Capital LLC acquired a new stake in shares of Altria Group in the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Stock Performance

Shares of MO stock opened at $59.61 on Wednesday. Altria Group, Inc. has a 1 year low of $43.83 and a 1 year high of $61.26. The firm has a market capitalization of $100.41 billion, a PE ratio of 9.10, a price-to-earnings-growth ratio of 2.89 and a beta of 0.60. The stock has a fifty day moving average of $58.19 and a two-hundred day moving average of $55.77.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.04. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. The company had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same period in the prior year, the business posted $1.15 EPS. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. Equities research analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Monday, June 16th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.08 annualized dividend and a dividend yield of 6.84%. Altria Group’s dividend payout ratio (DPR) is 68.34%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Needham & Company LLC raised Altria Group to a “hold” rating in a report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on Altria Group in a research note on Tuesday, April 1st. UBS Group increased their target price on shares of Altria Group from $46.00 to $47.00 and gave the stock a “sell” rating in a report on Wednesday, April 30th. Wall Street Zen lowered shares of Altria Group from a “buy” rating to a “hold” rating in a report on Thursday, May 1st. Finally, Morgan Stanley dropped their price target on Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Altria Group has an average rating of “Hold” and a consensus target price of $56.00.

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.