Adero Partners LLC Makes New $229,000 Investment in Altria Group, Inc. (NYSE:MO)

Adero Partners LLC bought a new position in Altria Group, Inc. (NYSE:MO) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,819 shares of the company’s stock, valued at approximately $229,000.

A number of other large investors also recently modified their holdings of the stock. Redwood Park Advisors LLC bought a new position in Altria Group in the 4th quarter valued at $26,000. VSM Wealth Advisory LLC bought a new position in Altria Group in the fourth quarter valued at about $29,000. Marshall Investment Management LLC acquired a new stake in Altria Group in the fourth quarter worth about $32,000. Promus Capital LLC acquired a new stake in Altria Group in the fourth quarter worth about $33,000. Finally, Pinney & Scofield Inc. bought a new stake in Altria Group during the 4th quarter worth about $33,000. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MO has been the subject of a number of analyst reports. Barclays lifted their target price on shares of Altria Group from $46.00 to $49.00 and gave the stock an “underweight” rating in a report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on Altria Group in a report on Tuesday, April 1st. Citigroup raised their target price on Altria Group from $52.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday, April 25th. Needham & Company LLC upgraded Altria Group to a “hold” rating in a research report on Thursday, May 22nd. Finally, Wall Street Zen downgraded shares of Altria Group from a “buy” rating to a “hold” rating in a research report on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $56.00.

Altria Group Stock Performance

Shares of MO stock opened at $58.77 on Tuesday. Altria Group, Inc. has a 52 week low of $43.92 and a 52 week high of $61.26. The company’s 50 day moving average price is $58.81 and its two-hundred day moving average price is $56.10. The company has a market capitalization of $99.00 billion, a P/E ratio of 8.97, a price-to-earnings-growth ratio of 2.89 and a beta of 0.60.

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

Altria Group Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Monday, June 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 6.94%. Altria Group’s payout ratio is presently 68.34%.

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.