MOKAN Wealth Management Inc. Takes $538,000 Position in Altria Group, Inc. (NYSE:MO)

MOKAN Wealth Management Inc. purchased a new position in shares of Altria Group, Inc. (NYSE:MO) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 10,290 shares of the company’s stock, valued at approximately $538,000.

Other hedge funds have also added to or reduced their stakes in the company. Aviance Capital Partners LLC increased its stake in Altria Group by 0.5% in the 3rd quarter. Aviance Capital Partners LLC now owns 40,362 shares of the company’s stock worth $2,060,000 after acquiring an additional 191 shares during the last quarter. Horst & Graben Wealth Management LLC lifted its position in Altria Group by 1.5% during the fourth quarter. Horst & Graben Wealth Management LLC now owns 13,015 shares of the company’s stock valued at $681,000 after purchasing an additional 198 shares during the last quarter. Fragasso Financial Advisors Inc grew its stake in Altria Group by 3.3% in the 4th quarter. Fragasso Financial Advisors Inc now owns 6,302 shares of the company’s stock worth $330,000 after buying an additional 199 shares in the last quarter. American Institute for Advanced Investment Management LLP increased its holdings in shares of Altria Group by 3.5% in the 3rd quarter. American Institute for Advanced Investment Management LLP now owns 5,860 shares of the company’s stock worth $299,000 after buying an additional 200 shares during the last quarter. Finally, Ridgecrest Wealth Partners LLC raised its position in shares of Altria Group by 3.5% during the 3rd quarter. Ridgecrest Wealth Partners LLC now owns 5,851 shares of the company’s stock valued at $299,000 after buying an additional 200 shares in the last quarter. 57.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on MO. Bank of America upgraded 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 research report on Friday, December 6th. Deutsche Bank Aktiengesellschaft increased their price objective on Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Stifel Nicolaus increased their price target 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. Finally, Barclays boosted their price objective on shares of Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. 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 stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $53.29.

Altria Group Stock Down 0.5 %

NYSE:MO opened at $53.37 on Friday. The firm has a market capitalization of $90.44 billion, a P/E ratio of 8.15, a P/E/G ratio of 2.80 and a beta of 0.64. Altria Group, Inc. has a 52 week low of $39.25 and a 52 week high of $58.03. The company has a fifty day moving average of $52.75 and a 200 day moving average of $52.57.

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

Altria Group Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 7.65%. The ex-dividend date of this dividend was Thursday, December 26th. Altria Group’s dividend payout ratio (DPR) is 62.29%.

Altria Group 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.