Symphony Financial Ltd. Co. Purchases 2,865 Shares of Altria Group, Inc. (NYSE:MO)

Symphony Financial Ltd. Co. increased its position in Altria Group, Inc. (NYSE:MO) by 2.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 123,063 shares of the company’s stock after purchasing an additional 2,865 shares during the quarter. Altria Group makes up 1.3% of Symphony Financial Ltd. Co.’s portfolio, making the stock its 23rd largest holding. Symphony Financial Ltd. Co.’s holdings in Altria Group were worth $5,368,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MO. FSC Wealth Advisors LLC raised its stake in Altria Group by 21.3% during the fourth quarter. FSC Wealth Advisors LLC now owns 2,719 shares of the company’s stock worth $110,000 after acquiring an additional 477 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new stake in shares of Altria Group in the fourth quarter valued at $39,000. KPP Advisory Services LLC acquired a new stake in shares of Altria Group in the third quarter valued at $3,128,000. Axxcess Wealth Management LLC increased its stake in shares of Altria Group by 293.6% in the third quarter. Axxcess Wealth Management LLC now owns 55,546 shares of the company’s stock valued at $2,336,000 after buying an additional 41,432 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Altria Group by 0.5% in the fourth quarter. Nordea Investment Management AB now owns 1,011,345 shares of the company’s stock valued at $40,727,000 after buying an additional 4,789 shares in the last quarter. 57.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. UBS Group raised their target price on Altria Group from $36.10 to $36.50 and gave the company a “sell” rating in a research note on Monday, April 8th. Stifel Nicolaus restated a “buy” rating and issued a $50.00 target price on shares of Altria Group in a research note on Monday, March 25th. Argus upgraded Altria Group to a “hold” rating in a research note on Friday, May 31st. Finally, StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research note on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $46.90.

Insiders Place Their Bets

In other Altria Group news, VP Charles N. Whitaker sold 22,487 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $43.95, for a total transaction of $988,303.65. Following the transaction, the vice president now owns 173,485 shares of the company’s stock, valued at approximately $7,624,665.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.09% of the company’s stock.

Altria Group Stock Performance

Altria Group stock traded up $0.09 during midday trading on Friday, reaching $45.55. The stock had a trading volume of 12,238,540 shares, compared to its average volume of 9,876,758. The firm’s fifty day simple moving average is $45.19 and its 200-day simple moving average is $42.75. Altria Group, Inc. has a 1-year low of $39.06 and a 1-year high of $47.19. The stock has a market capitalization of $78.24 billion, a P/E ratio of 9.53, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64.

Altria Group (NYSE:MO) last announced its earnings results on Thursday, April 25th. The company reported $1.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.15. Altria Group had a negative return on equity of 222.80% and a net margin of 34.81%. The business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.71 billion. During the same quarter last year, the firm earned $1.18 EPS. Altria Group’s revenue for the quarter was down 1.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 14th will be given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 8.61%. The ex-dividend date is Friday, June 14th. Altria Group’s dividend payout ratio is presently 82.01%.

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.