Range Financial Group LLC Boosts Stock Position in Altria Group, Inc. (NYSE:MO)

Range Financial Group LLC raised its stake in shares of Altria Group, Inc. (NYSE:MO) by 446.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,947 shares of the company’s stock after acquiring an additional 34,277 shares during the period. Altria Group makes up 1.0% of Range Financial Group LLC’s investment portfolio, making the stock its 26th biggest holding. Range Financial Group LLC’s holdings in Altria Group were worth $2,193,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC increased its position in Altria Group by 420.0% during the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after purchasing an additional 462 shares during the period. Valley Wealth Managers Inc. increased its position in Altria Group by 63.9% during the 2nd quarter. Valley Wealth Managers Inc. now owns 667 shares of the company’s stock worth $30,000 after purchasing an additional 260 shares during the period. Legacy Investment Solutions LLC acquired a new position in Altria Group during the 3rd quarter worth approximately $34,000. Peterson Financial Group Inc. acquired a new position in Altria Group during the 3rd quarter worth approximately $41,000. Finally, Fairman Group LLC increased its position in Altria Group by 85.1% during the 3rd quarter. Fairman Group LLC now owns 892 shares of the company’s stock worth $46,000 after purchasing an additional 410 shares during the period. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Stock Performance

MO stock traded down $0.63 on Tuesday, reaching $51.46. The company had a trading volume of 5,361,685 shares, compared to its average volume of 5,668,811. Altria Group, Inc. has a 1 year low of $39.25 and a 1 year high of $58.03. The company’s fifty day moving average is $54.63 and its 200 day moving average is $51.70. The company has a market cap of $87.22 billion, a P/E ratio of 8.69, a PEG ratio of 3.03 and a beta of 0.64.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.03. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.33 billion. During the same quarter in the prior year, the company posted $1.28 EPS. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. On average, sell-side analysts predict that Altria Group, Inc. will post 5.12 earnings per share for the current year.

Altria Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Thursday, December 26th will be given a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 7.93%. The ex-dividend date of this dividend is Thursday, December 26th. Altria Group’s dividend payout ratio (DPR) is currently 68.92%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MO. Stifel Nicolaus boosted their target price on Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Barclays upped their price target on Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft upped their price target on Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Citigroup upped their price target on Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Finally, UBS Group upped their price target on Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a report on Monday, September 9th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $53.33.

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.