HB Wealth Management LLC Has $4.52 Million Stock Holdings in Altria Group, Inc. (NYSE:MO)

HB Wealth Management LLC boosted its position in Altria Group, Inc. (NYSE:MO) by 5.7% in the 4th quarter, HoldingsChannel reports. The firm owned 86,393 shares of the company’s stock after acquiring an additional 4,652 shares during the period. HB Wealth Management LLC’s holdings in Altria Group were worth $4,518,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Trust Co. of Vermont raised its stake in Altria Group by 2.8% in the fourth quarter. Trust Co. of Vermont now owns 43,282 shares of the company’s stock valued at $2,263,000 after buying an additional 1,196 shares during the period. Westend Capital Management LLC increased its holdings in shares of Altria Group by 134.8% during the 4th quarter. Westend Capital Management LLC now owns 1,564 shares of the company’s stock worth $82,000 after acquiring an additional 898 shares during the last quarter. Premier Path Wealth Partners LLC raised its stake in Altria Group by 3.3% in the 4th quarter. Premier Path Wealth Partners LLC now owns 7,643 shares of the company’s stock valued at $400,000 after acquiring an additional 244 shares during the period. Howard Financial Services LTD. lifted its holdings in Altria Group by 5.7% during the 4th quarter. Howard Financial Services LTD. now owns 6,588 shares of the company’s stock valued at $344,000 after purchasing an additional 356 shares during the last quarter. Finally, Verity & Verity LLC boosted its position in Altria Group by 9.5% during the fourth quarter. Verity & Verity LLC now owns 300,722 shares of the company’s stock worth $15,725,000 after purchasing an additional 26,154 shares during the period. Institutional investors own 57.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Morgan Stanley started coverage on shares of Altria Group in a research report on Thursday. They issued an “equal weight” rating and a $54.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Barclays upped their target price on Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. Stifel Nicolaus lifted their price target on Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Citigroup upped their price objective on Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $53.43.

Altria Group Price Performance

Altria Group stock opened at $51.92 on Friday. The firm has a market cap of $87.99 billion, a PE ratio of 8.77, a price-to-earnings-growth ratio of 2.69 and a beta of 0.64. The stock’s fifty day moving average price is $54.29 and its two-hundred day moving average price is $51.95. Altria Group, Inc. has a one year low of $39.25 and a one year high of $58.03.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.03. The business had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $5.33 billion. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. Altria Group’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.28 earnings per share. Sell-side analysts expect that Altria Group, Inc. will post 5.12 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Thursday, December 26th were paid a $1.02 dividend. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $4.08 dividend on an annualized basis and a yield of 7.86%. Altria Group’s dividend payout ratio (DPR) is 68.92%.

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.