Lake Hills Wealth Management LLC Makes New Investment in Altria Group, Inc. (NYSE:MO)

Lake Hills Wealth Management LLC purchased a new position in shares of Altria Group, Inc. (NYSE:MO) in the first quarter, according to its most recent filing with the SEC. The firm purchased 4,653 shares of the company’s stock, valued at approximately $279,000.

A number of other large investors have also recently bought and sold shares of the business. Redwood Park Advisors LLC acquired a new stake in shares of Altria Group in the 4th quarter valued at about $26,000. VSM Wealth Advisory LLC acquired a new stake in shares of Altria Group in the 4th quarter valued at 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. Promus Capital LLC acquired a new stake in shares of Altria Group in the 4th quarter valued at about $33,000. Finally, Pinney & Scofield Inc. acquired a new stake in shares of Altria Group in the 4th quarter valued at about $33,000. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Altria Group Stock Down 0.2%

Altria Group stock opened at $59.25 on Friday. Altria Group, Inc. has a 52 week low of $43.83 and a 52 week high of $61.26. The company’s 50 day moving average price is $58.45 and its two-hundred day moving average price is $56.02. The stock has a market cap of $99.80 billion, a P/E ratio of 9.05, a P/E/G ratio of 2.89 and a beta of 0.60.

Altria Group (NYSE:MO) last posted its earnings results on Tuesday, April 29th. The company reported $1.23 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter last year, the firm earned $1.15 EPS. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, equities analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Monday, June 16th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.08 annualized dividend and a dividend yield of 6.89%. Altria Group’s payout ratio is currently 68.34%.

Analyst Ratings Changes

MO has been the subject of several research reports. Stifel Nicolaus raised their target price on Altria Group from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. UBS Group raised their price target on shares of Altria Group from $46.00 to $47.00 and gave the company a “sell” rating in a research report on Wednesday, April 30th. Wall Street Zen cut shares of Altria Group from a “buy” rating to a “hold” rating in a research report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft set a $60.00 price target on shares of Altria Group in a research report on Tuesday, April 1st. Finally, Barclays raised their price target on shares of Altria Group from $46.00 to $49.00 and gave the company an “underweight” rating in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Altria Group currently has an average rating of “Hold” and an average target price of $56.00.

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.