Integrated Advisors Network LLC Buys 47,277 Shares of Altria Group, Inc. (NYSE:MO)

Integrated Advisors Network LLC grew its stake in Altria Group, Inc. (NYSE:MO) by 152.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,346 shares of the company’s stock after acquiring an additional 47,277 shares during the period. Integrated Advisors Network LLC’s holdings in Altria Group were worth $4,702,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. BFI Infinity Ltd. purchased a new stake in shares of Altria Group in the 1st quarter worth approximately $208,000. Sanibel Captiva Trust Company Inc. lifted its position in shares of Altria Group by 9.5% in the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 39,869 shares of the company’s stock worth $2,393,000 after purchasing an additional 3,464 shares during the period. Sonora Investment Management Group LLC lifted its position in shares of Altria Group by 6.3% in the 1st quarter. Sonora Investment Management Group LLC now owns 19,367 shares of the company’s stock worth $1,162,000 after purchasing an additional 1,155 shares during the period. Simplicity Wealth LLC lifted its position in shares of Altria Group by 152.2% in the 1st quarter. Simplicity Wealth LLC now owns 58,268 shares of the company’s stock worth $3,497,000 after purchasing an additional 35,168 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Altria Group by 17.8% in the 1st quarter. GAMMA Investing LLC now owns 36,028 shares of the company’s stock worth $2,162,000 after purchasing an additional 5,440 shares during the period. 57.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Wall Street Zen cut shares of Altria Group from a “buy” rating to a “hold” rating in a research report on Thursday, May 1st. Stifel Nicolaus upped their price target on shares of Altria Group from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Needham & Company LLC raised shares of Altria Group to a “hold” rating in a research report on Thursday, May 22nd. Citigroup increased their target price on shares of Altria Group from $52.00 to $55.00 and gave the company a “neutral” rating in a research report on Friday, April 25th. Finally, UBS Group increased their target price 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. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $56.00.

Altria Group Stock Down 0.8%

NYSE:MO opened at $58.58 on Wednesday. Altria Group, Inc. has a 52 week low of $43.83 and a 52 week high of $61.26. The firm has a 50 day moving average of $58.50 and a 200 day moving average of $56.05. The stock has a market capitalization of $98.68 billion, a price-to-earnings ratio of 8.94, a PEG 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, beating 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 during the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the prior year, the company posted $1.15 earnings per share. Altria Group’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, analysts expect that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Monday, June 16th will be issued a $1.02 dividend. The ex-dividend date is Monday, June 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 6.96%. Altria Group’s dividend payout ratio is currently 68.34%.

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.