Strategic Financial Concepts LLC Raises Position in Altria Group, Inc. (NYSE:MO)

Strategic Financial Concepts LLC boosted its stake in Altria Group, Inc. (NYSE:MO) by 5,280.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 292,242 shares of the company’s stock after buying an additional 286,810 shares during the quarter. Strategic Financial Concepts LLC’s holdings in Altria Group were worth $15,281,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MO. Financial Life Planners purchased a new position in Altria Group in the 4th quarter worth approximately $25,000. True Wealth Design LLC lifted its stake in Altria Group by 420.0% in 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 in the last quarter. Legacy Investment Solutions LLC purchased a new position in Altria Group in the 3rd quarter worth approximately $34,000. Peterson Financial Group Inc. purchased a new position in Altria Group in the 3rd quarter worth approximately $41,000. Finally, Fairman Group LLC increased its holdings in shares of 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 buying an additional 410 shares during the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MO has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Bank of America upgraded shares of Altria Group from a “neutral” rating to a “buy” rating and raised their price target for the stock from $55.00 to $65.00 in a report on Friday, December 6th. Stifel Nicolaus raised their price target on shares of Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Morgan Stanley dropped their target price on shares of 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 equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Altria Group currently has an average rating of “Hold” and a consensus price target of $53.29.

Altria Group Stock Performance

Altria Group stock opened at $52.65 on Friday. The firm has a 50 day moving average price of $53.19 and a 200 day moving average price of $52.42. The company has a market capitalization of $89.24 billion, a PE ratio of 8.04, a price-to-earnings-growth ratio of 2.78 and a beta of 0.64. Altria Group, Inc. has a fifty-two week low of $39.25 and a fifty-two week high of $58.03.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.29 EPS for the quarter, topping 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, equities research analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 26th were paid a $1.02 dividend. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $4.08 annualized dividend and a dividend yield of 7.75%. Altria Group’s dividend payout ratio (DPR) is 62.29%.

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.