Altria Group, Inc. (NYSE:MO) Shares Acquired by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC increased its stake in Altria Group, Inc. (NYSE:MO) by 7.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,649 shares of the company’s stock after acquiring an additional 4,640 shares during the period. Verdence Capital Advisors LLC’s holdings in Altria Group were worth $2,729,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Empirical Finance LLC lifted its stake in Altria Group by 1.1% in the 4th quarter. Empirical Finance LLC now owns 21,586 shares of the company’s stock valued at $987,000 after buying an additional 225 shares in the last quarter. Clear Creek Financial Management LLC lifted its stake in shares of Altria Group by 4.3% during the 3rd quarter. Clear Creek Financial Management LLC now owns 5,825 shares of the company’s stock worth $246,000 after purchasing an additional 240 shares during the period. Taylor & Morgan Wealth Management LLC lifted its stake in shares of Altria Group by 2.1% during the 4th quarter. Taylor & Morgan Wealth Management LLC now owns 11,981 shares of the company’s stock worth $483,000 after purchasing an additional 246 shares during the period. Day & Ennis LLC lifted its stake in shares of Altria Group by 4.9% during the 3rd quarter. Day & Ennis LLC now owns 5,353 shares of the company’s stock worth $225,000 after purchasing an additional 250 shares during the period. Finally, Whitener Capital Management Inc. lifted its stake in shares of Altria Group by 2.6% during the 3rd quarter. Whitener Capital Management Inc. now owns 9,797 shares of the company’s stock worth $412,000 after purchasing an additional 250 shares during the period. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. UBS Group increased their price target on Altria Group from $36.10 to $36.50 and gave the stock a “sell” rating in a research note on Monday, April 8th. StockNews.com lowered Altria Group from a “buy” rating to a “hold” rating in a research note on Sunday, April 14th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $50.00 price target on shares of Altria Group in a research note on Monday, March 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Altria Group has an average rating of “Hold” and a consensus target price of $46.90.

Altria Group Stock Up 1.9 %

Shares of MO stock traded up $0.79 on Friday, reaching $42.09. 22,325,582 shares of the stock were exchanged, compared to its average volume of 11,630,883. The stock has a market cap of $72.30 billion, a P/E ratio of 9.21, a price-to-earnings-growth ratio of 2.53 and a beta of 0.65. The firm has a 50 day moving average of $41.91 and a two-hundred day moving average of $41.43. Altria Group, Inc. has a 1-year low of $39.06 and a 1-year high of $48.04.

Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, February 1st. The company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.01. The business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.06 billion. Altria Group had a negative return on equity of 244.55% and a net margin of 33.21%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.18 EPS. On average, equities research analysts predict that Altria Group, Inc. will post 5.09 EPS for the current fiscal year.

Altria Group announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 1st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Altria Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, March 25th will be issued a $0.98 dividend. The ex-dividend date is Friday, March 22nd. This represents a $3.92 annualized dividend and a yield of 9.31%. Altria Group’s dividend payout ratio is currently 85.78%.

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.