Avantax Advisory Services Inc. Increases Stock Holdings in Altria Group, Inc. (NYSE:MO)

Avantax Advisory Services Inc. increased its holdings in Altria Group, Inc. (NYSE:MO) by 4.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 263,241 shares of the company’s stock after acquiring an additional 11,756 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Altria Group were worth $13,765,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MO. Financial Life Planners purchased a new stake in Altria Group in the fourth quarter worth $25,000. True Wealth Design LLC lifted its stake in Altria Group by 420.0% in the third 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. Marshall Investment Management LLC purchased a new stake in Altria Group in the fourth quarter worth $32,000. Promus Capital LLC purchased a new stake in Altria Group in the fourth quarter worth $33,000. Finally, Legacy Investment Solutions LLC purchased a new stake in Altria Group in the third quarter worth $34,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Trading Down 0.5 %

MO opened at $57.83 on Thursday. Altria Group, Inc. has a 12-month low of $40.65 and a 12-month high of $59.67. The stock has a fifty day simple moving average of $53.52 and a two-hundred day simple moving average of $53.23. The company has a market cap of $97.77 billion, a price-to-earnings ratio of 8.83, a price-to-earnings-growth ratio of 2.89 and a beta of 0.56.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, January 30th. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.01. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. On average, analysts predict that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th will be issued a dividend of $1.02 per share. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $4.08 annualized dividend and a dividend yield of 7.05%. Altria Group’s payout ratio is presently 62.29%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $55.00 to $65.00 in a report on Friday, December 6th. Morgan Stanley decreased their price objective 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. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Altria Group currently has a consensus rating of “Hold” and an average price target 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.