17,591 Shares in Altria Group, Inc. (NYSE:MO) Acquired by Impact Partnership Wealth LLC

Impact Partnership Wealth LLC purchased a new stake in Altria Group, Inc. (NYSE:MO) during the 4th quarter, Holdings Channel.com reports. The fund purchased 17,591 shares of the company’s stock, valued at approximately $920,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. True Wealth Design LLC lifted its stake in shares of Altria Group by 420.0% in the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after acquiring an additional 462 shares during the period. Legacy Investment Solutions LLC purchased a new position in Altria Group during the third quarter worth $34,000. Peterson Financial Group Inc. purchased a new stake in Altria Group in the 3rd quarter worth approximately $41,000. Fairman Group LLC raised its holdings in Altria Group by 85.1% in the 3rd quarter. Fairman Group LLC now owns 892 shares of the company’s stock valued at $46,000 after acquiring an additional 410 shares during the last quarter. Finally, IFS Advisors LLC lifted its stake in shares of Altria Group by 330.4% during the 4th quarter. IFS Advisors LLC now owns 977 shares of the company’s stock worth $51,000 after purchasing an additional 750 shares during the period. Institutional investors and hedge funds own 57.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MO. Morgan Stanley began coverage on Altria Group in a research report on Thursday, January 16th. They issued an “equal weight” rating and a $54.00 price objective for the company. Deutsche Bank Aktiengesellschaft boosted their price target on Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Bank of America raised shares of Altria Group from a “neutral” rating to a “buy” rating and lifted their price target for the company from $55.00 to $65.00 in a research report on Friday, December 6th. Barclays upped their price objective on shares of Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. Finally, Citigroup lifted their target price on Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Altria Group presently has a consensus rating of “Hold” and a consensus price target of $53.43.

Altria Group Price Performance

MO opened at $51.17 on Friday. The stock’s 50 day moving average price is $54.10 and its 200 day moving average price is $52.10. The stock has a market cap of $86.72 billion, a P/E ratio of 8.64, a P/E/G ratio of 2.67 and a beta of 0.64. Altria Group, Inc. has a 12 month low of $39.25 and a 12 month high of $58.03.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.03. The business had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $5.33 billion. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. The company’s revenue was up 18.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.28 earnings per share. Equities analysts anticipate that Altria Group, Inc. will post 5.13 EPS for the current year.

Altria Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 26th were given a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 7.97%. The ex-dividend date was Thursday, December 26th. Altria Group’s dividend payout ratio (DPR) is presently 68.92%.

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.