Palacios Wealth Management LLC Invests $291,000 in Altria Group, Inc. (NYSE:MO)

Palacios Wealth Management LLC acquired a new position in shares of Altria Group, Inc. (NYSE:MO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,685 shares of the company’s stock, valued at approximately $291,000.

Other large investors also recently made changes to their positions in the company. Financial Life Planners bought a new stake in shares of Altria Group during the fourth quarter worth $25,000. True Wealth Design LLC increased its position in shares of Altria Group by 420.0% during 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 in the last quarter. Legacy Investment Solutions LLC bought a new position in Altria Group in the third quarter valued at $34,000. Peterson Financial Group Inc. bought a new position in Altria Group in the third quarter valued at $41,000. Finally, Fairman Group LLC grew its position in Altria Group by 85.1% in the third quarter. Fairman Group LLC now owns 892 shares of the company’s stock valued at $46,000 after purchasing an additional 410 shares in the last quarter. Institutional investors own 57.41% of the company’s stock.

Altria Group Price Performance

Shares of MO opened at $53.71 on Friday. The firm has a 50-day moving average of $52.90 and a 200-day moving average of $52.55. Altria Group, Inc. has a one year low of $39.25 and a one year high of $58.03. The company has a market cap of $91.04 billion, a PE ratio of 8.20, a price-to-earnings-growth ratio of 2.80 and a beta of 0.64.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, January 30th. The company reported $1.29 EPS for the quarter, beating 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%. Analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, December 26th were paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.60%. The ex-dividend date of this dividend was Thursday, December 26th. Altria Group’s dividend payout ratio is presently 62.29%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Morgan Stanley decreased 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 research report on Friday, January 31st. Stifel Nicolaus raised their target price on shares of Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft raised their target price on shares of Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Barclays raised their target price on shares of Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. Finally, Bank of America raised shares of Altria Group from a “neutral” rating to a “buy” rating and raised their target price for the company from $55.00 to $65.00 in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Altria Group presently has an average rating of “Hold” and a consensus 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.