3,718 Shares in Altria Group, Inc. (NYSE:MO) Acquired by RMR Wealth Builders

RMR Wealth Builders purchased a new position in shares of Altria Group, Inc. (NYSE:MO) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 3,718 shares of the company’s stock, valued at approximately $223,000.

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

Analysts Set New Price Targets

Several analysts have weighed in on MO shares. Citigroup boosted their price target on Altria Group from $52.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, April 25th. Needham & Company LLC upgraded Altria Group to a “hold” rating in a research note on Thursday, May 22nd. Wall Street Zen downgraded Altria Group from a “buy” rating to a “hold” rating in a research note on Thursday, May 1st. Stifel Nicolaus upped their target price on Altria Group from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Finally, UBS Group upped their target price on Altria Group from $46.00 to $47.00 and gave the stock a “sell” rating in a research note on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Altria Group has a consensus rating of “Hold” and a consensus target price of $56.00.

Altria Group Trading Down 0.3%

Shares of MO stock opened at $59.74 on Friday. The company has a market capitalization of $100.64 billion, a P/E ratio of 9.12, a P/E/G ratio of 2.89 and a beta of 0.60. The business’s 50 day moving average is $58.75 and its two-hundred day moving average is $56.11. Altria Group, Inc. has a 12-month low of $43.83 and a 12-month high of $61.26.

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

Altria Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Monday, June 16th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.08 dividend on an annualized basis and a yield of 6.83%. Altria Group’s dividend payout ratio is currently 68.34%.

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.