Naviter Wealth LLC Buys Shares of 4,219 Altria Group, Inc. (NYSE:MO)

Naviter Wealth LLC purchased a new position in Altria Group, Inc. (NYSE:MO) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,219 shares of the company’s stock, valued at approximately $225,000.

Several other large investors also recently modified their holdings of the company. Financial Life Planners purchased a new stake in Altria Group during the fourth quarter valued at approximately $25,000. True Wealth Design LLC grew its position in shares of Altria Group by 420.0% during the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock valued at $29,000 after acquiring an additional 462 shares during the period. Marshall Investment Management LLC purchased a new stake in shares of Altria Group in the 4th quarter worth $32,000. Promus Capital LLC bought a new position in Altria Group in the 4th quarter worth $33,000. Finally, Legacy Investment Solutions LLC purchased a new stake in Altria Group in the third quarter worth about $34,000. Institutional investors own 57.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MO shares. Bank of America raised 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 report on Friday, December 6th. Morgan Stanley lowered their price objective on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a research 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, the company currently has an average rating of “Hold” and an average price target of $53.29.

Altria Group Stock Up 1.4 %

NYSE MO opened at $57.79 on Monday. Altria Group, Inc. has a 52 week low of $40.65 and a 52 week high of $58.59. The firm has a market capitalization of $97.70 billion, a price-to-earnings ratio of 8.82, a PEG ratio of 2.89 and a beta of 0.56. The company has a fifty day moving average of $53.15 and a two-hundred day moving average of $53.11.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. Equities research analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th will be paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.06%. The ex-dividend date of this dividend is Tuesday, March 25th. Altria Group’s dividend payout ratio is currently 62.29%.

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.