Inlight Wealth Management LLC Makes New $31,000 Investment in Altria Group, Inc. (NYSE:MO)

Inlight Wealth Management LLC acquired a new position in Altria Group, Inc. (NYSE:MO) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 512 shares of the company’s stock, valued at approximately $31,000.

Several other institutional investors and hedge funds have also bought and sold shares of MO. Redwood Park Advisors LLC purchased a new position in shares of Altria Group during the fourth quarter valued at approximately $26,000. VSM Wealth Advisory LLC purchased a new position in shares of Altria Group during the fourth quarter valued at approximately $29,000. Marshall Investment Management LLC purchased a new position in shares of Altria Group during the fourth quarter valued at approximately $32,000. Promus Capital LLC purchased a new position in shares of Altria Group during the fourth quarter valued at approximately $33,000. Finally, Pinney & Scofield Inc. purchased a new position in shares of Altria Group during the fourth quarter valued at approximately $33,000. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Altria Group Stock Up 0.2%

Shares of MO opened at $59.60 on Friday. The company has a market capitalization of $100.39 billion, a P/E ratio of 9.98, a price-to-earnings-growth ratio of 3.49 and a beta of 0.60. The firm has a 50 day moving average of $59.04 and a 200 day moving average of $56.17. Altria Group, Inc. has a twelve month low of $45.17 and a twelve month high of $61.26.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.04. Altria Group had a net margin of 43.09% and a negative return on equity of 295.44%. The company had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter last year, the firm earned $1.15 earnings per share. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, sell-side analysts expect that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Monday, June 16th will be given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 6.85%. The ex-dividend date is Monday, June 16th. Altria Group’s dividend payout ratio (DPR) is presently 68.34%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MO shares. Needham & Company LLC upgraded shares of Altria Group to a “hold” rating in a report on Thursday, May 22nd. Stifel Nicolaus lifted their target price on shares of Altria Group from $60.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. Barclays lifted their target price on shares of Altria Group from $46.00 to $49.00 and gave the company an “underweight” rating in a report on Friday, May 2nd. Citigroup lifted their target price on shares of Altria Group from $52.00 to $55.00 and gave the company a “neutral” rating in a report on Friday, April 25th. Finally, Wall Street Zen lowered shares of Altria Group from a “buy” rating to a “hold” rating in a report on Thursday, May 1st. Two 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 stock. According to MarketBeat.com, Altria Group has a consensus rating of “Hold” and an average price target 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.