Rialto Wealth Management LLC Makes New Investment in Altria Group, Inc. (NYSE:MO)

Rialto Wealth Management LLC bought a new stake in Altria Group, Inc. (NYSE:MO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,515 shares of the company’s stock, valued at approximately $79,000.

Other large investors have also bought and sold shares of the company. Aviance Capital Partners LLC boosted its position in Altria Group by 0.5% during the 3rd quarter. Aviance Capital Partners LLC now owns 40,362 shares of the company’s stock valued at $2,060,000 after acquiring an additional 191 shares in the last quarter. Horst & Graben Wealth Management LLC lifted its stake in shares of Altria Group by 1.5% in the 4th quarter. Horst & Graben Wealth Management LLC now owns 13,015 shares of the company’s stock valued at $681,000 after purchasing an additional 198 shares during the period. Fragasso Financial Advisors Inc grew its position in shares of Altria Group by 3.3% in the 4th quarter. Fragasso Financial Advisors Inc now owns 6,302 shares of the company’s stock worth $330,000 after buying an additional 199 shares during the period. Ridgecrest Wealth Partners LLC increased its stake in shares of Altria Group by 3.5% during the third quarter. Ridgecrest Wealth Partners LLC now owns 5,851 shares of the company’s stock valued at $299,000 after purchasing an additional 200 shares in the last quarter. Finally, First Citizens Financial Corp increased its position in Altria Group by 4.8% during the 4th quarter. First Citizens Financial Corp now owns 4,402 shares of the company’s stock valued at $230,000 after buying an additional 200 shares in the last quarter. 57.41% of the stock is currently owned by institutional investors.

Altria Group Stock Performance

Altria Group stock opened at $57.79 on Friday. Altria Group, Inc. has a one year low of $40.65 and a one year high of $58.59. The stock has a fifty day moving average of $53.15 and a 200 day moving average of $53.10. The stock has a market cap of $97.70 billion, a PE ratio of 8.82, a price-to-earnings-growth ratio of 2.89 and a beta of 0.56.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.28 by $0.01. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. As a group, sell-side 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 will be paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th will be issued a $1.02 dividend. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a yield of 7.06%. Altria Group’s dividend payout ratio is currently 62.29%.

Analyst Upgrades and Downgrades

MO has been the subject of several analyst reports. Morgan Stanley reduced their price target on Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Bank of America upgraded shares of Altria Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $55.00 to $65.00 in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $53.29.

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.