Sweeney & Michel LLC Takes $246,000 Position in Altria Group, Inc. (NYSE:MO)

Sweeney & Michel LLC purchased a new position in Altria Group, Inc. (NYSE:MO) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,431 shares of the company’s stock, valued at approximately $246,000.

A number of other large investors also recently modified their holdings of the company. Financial Life Planners purchased a new position in Altria Group during the fourth quarter worth about $25,000. Redwood Park Advisors LLC purchased a new stake in shares of Altria Group in the 4th quarter valued at about $26,000. VSM Wealth Advisory LLC bought a new stake in shares of Altria Group during the 4th quarter valued at about $29,000. Marshall Investment Management LLC bought a new stake in shares of Altria Group during the 4th quarter valued at about $32,000. Finally, Promus Capital LLC purchased a new position in shares of Altria Group during the fourth quarter worth about $33,000. 57.41% of the stock is currently owned by institutional investors.

Altria Group Stock Performance

Shares of MO opened at $60.39 on Monday. Altria Group, Inc. has a fifty-two week low of $43.83 and a fifty-two week high of $61.26. The firm has a market cap of $101.72 billion, a price-to-earnings ratio of 9.22, a PEG ratio of 2.89 and a beta of 0.60. The firm has a 50 day moving average price of $58.34 and a 200-day moving average price of $55.88.

Altria Group (NYSE:MO) last issued its earnings results on Tuesday, April 29th. The company reported $1.23 EPS 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 for the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter last year, the company earned $1.15 EPS. The firm’s revenue was down 4.2% compared to the same quarter last year. As a group, equities research analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Monday, June 16th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 6.76%. The ex-dividend date is Monday, June 16th. Altria Group’s dividend payout ratio is presently 68.34%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus raised their target price on shares of Altria Group from $60.00 to $63.00 and gave the company a “buy” rating in a research note 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. UBS Group lifted their price objective 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. Deutsche Bank Aktiengesellschaft set a $60.00 target price on Altria Group in a research note on Tuesday, April 1st. Finally, Needham & Company LLC raised Altria Group to a “hold” rating in a research note on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $56.00.

Altria Group Company 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.