Altria Group, Inc. (NYSE:MO) Shares Acquired by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. grew its holdings in Altria Group, Inc. (NYSE:MO) by 98.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 227,177 shares of the company’s stock after buying an additional 112,743 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Altria Group were worth $13,635,000 at the end of the most recent quarter.

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

Altria Group Stock Up 0.7%

MO stock opened at $59.41 on Friday. Altria Group, Inc. has a 52-week low of $44.53 and a 52-week high of $61.26. The stock’s fifty day simple moving average is $58.98 and its 200-day simple moving average is $56.16. The stock has a market capitalization of $100.07 billion, a price-to-earnings ratio of 9.95, a price-to-earnings-growth ratio of 3.47 and a beta of 0.60.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.04. Altria Group had a negative return on equity of 295.44% and a net margin of 43.09%. The business 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 earnings per share. The business’s revenue was down 4.2% on a year-over-year basis. As a group, analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Monday, June 16th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 6.87%. The ex-dividend date of this dividend is Monday, June 16th. Altria Group’s dividend payout ratio (DPR) is 68.34%.

Analyst Ratings Changes

MO has been the subject of several research analyst reports. Citigroup raised their price objective on Altria Group from $52.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, April 25th. Barclays raised their price target on Altria Group from $46.00 to $49.00 and gave the stock an “underweight” rating in a research report on Friday, May 2nd. Stifel Nicolaus raised their price target on Altria Group from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Wall Street Zen downgraded Altria Group from a “buy” rating to a “hold” rating in a research report on Thursday, May 1st. Finally, UBS Group raised their price target on Altria Group from $46.00 to $47.00 and gave the stock a “sell” rating in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Altria Group currently has a consensus rating of “Hold” and an average target price of $56.00.

Altria Group Company 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.