Inlet Private Wealth LLC Has $7.96 Million Stock Holdings in Altria Group, Inc. (NYSE:MO)

Inlet Private Wealth LLC lifted its stake in Altria Group, Inc. (NYSE:MO) by 2.1% in the 1st quarter, HoldingsChannel reports. The fund owned 132,612 shares of the company’s stock after purchasing an additional 2,713 shares during the quarter. Altria Group comprises 2.1% of Inlet Private Wealth LLC’s investment portfolio, making the stock its 9th largest position. Inlet Private Wealth LLC’s holdings in Altria Group were worth $7,959,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Redwood Park Advisors LLC acquired a new position in Altria Group during the 4th quarter valued at about $26,000. Inlight Wealth Management LLC acquired a new position in Altria Group during the 1st quarter valued at about $31,000. Sierra Ocean LLC increased its position in Altria Group by 226.3% during the 1st quarter. Sierra Ocean LLC now owns 509 shares of the company’s stock valued at $31,000 after buying an additional 353 shares in the last quarter. Pinney & Scofield Inc. acquired a new position in Altria Group during the 4th quarter valued at about $33,000. Finally, Bellwether Advisors LLC acquired a new position in Altria Group during the 4th quarter valued at about $38,000. 57.41% of the stock is owned by institutional investors.

Altria Group Stock Performance

Altria Group stock opened at $59.82 on Monday. The business’s 50-day simple moving average is $59.28 and its two-hundred day simple moving average is $57.14. The company has a market cap of $100.77 billion, a PE ratio of 10.02, a PEG ratio of 3.45 and a beta of 0.59. Altria Group, Inc. has a fifty-two week low of $47.57 and a fifty-two week high of $61.26.

Altria Group (NYSE:MO) last posted 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 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 the consensus estimate of $4.64 billion. During the same quarter in the previous year, the business earned $1.15 EPS. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. As a group, analysts predict that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Monday, June 16th were paid a $1.02 dividend. The ex-dividend date was Monday, June 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 6.82%. Altria Group’s payout ratio is 68.34%.

Wall Street Analyst Weigh In

MO has been the topic of several recent analyst reports. Citigroup upped their target price on Altria Group from $52.00 to $55.00 and gave the company a “neutral” rating in a research report on Friday, April 25th. Wall Street Zen lowered Altria Group from a “buy” rating to a “hold” rating in a research report on Thursday, May 1st. Stifel Nicolaus upped their target price on Altria Group from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft set a $60.00 target price on Altria Group in a research report on Tuesday, April 1st. Finally, UBS Group upgraded Altria Group from a “sell” rating to a “neutral” rating and boosted their price target for the company from $47.00 to $59.00 in a research note on Wednesday, July 2nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $56.75.

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.