Wealth Enhancement Advisory Services LLC Buys 11,430 Shares of Altria Group, Inc. (NYSE:MO)

Wealth Enhancement Advisory Services LLC boosted its stake in shares of Altria Group, Inc. (NYSE:MO) by 3.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 388,347 shares of the company’s stock after acquiring an additional 11,430 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Altria Group were worth $16,940,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Maryland Capital Advisors Inc. grew its stake in shares of Altria Group by 154.4% during the first quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock valued at $25,000 after buying an additional 349 shares during the last quarter. Westend Capital Management LLC bought a new position in shares of Altria Group during the first quarter valued at approximately $29,000. ZRC Wealth Management LLC grew its stake in shares of Altria Group by 67.6% during the fourth quarter. ZRC Wealth Management LLC now owns 677 shares of the company’s stock valued at $28,000 after buying an additional 273 shares during the last quarter. Criterion Capital Advisors LLC bought a new position in shares of Altria Group during the fourth quarter valued at approximately $27,000. Finally, Financial Gravity Asset Management Inc. grew its stake in shares of Altria Group by 1,800.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 703 shares of the company’s stock valued at $30,000 after buying an additional 666 shares during the last quarter. 57.41% of the stock is owned by institutional investors.

Altria Group Stock Up 0.2 %

Altria Group stock opened at $45.56 on Friday. The business has a fifty day moving average of $45.19 and a two-hundred day moving average of $42.74. The firm has a market cap of $78.26 billion, a P/E ratio of 9.53, a P/E/G ratio of 2.77 and a beta of 0.64. Altria Group, Inc. has a twelve month low of $39.06 and a twelve month high of $47.19.

Altria Group (NYSE:MO) last posted its earnings results on Thursday, April 25th. The company reported $1.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.15. The company had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.71 billion. Altria Group had a negative return on equity of 222.80% and a net margin of 34.81%. Altria Group’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.18 earnings per share. Equities analysts expect that Altria Group, Inc. will post 5.11 earnings per share for the current year.

Altria Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Friday, June 14th will be given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 8.60%. The ex-dividend date is Friday, June 14th. Altria Group’s payout ratio is presently 82.01%.

Insider Transactions at Altria Group

In other news, VP Charles N. Whitaker sold 22,487 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $43.95, for a total transaction of $988,303.65. Following the transaction, the vice president now directly owns 173,485 shares of the company’s stock, valued at $7,624,665.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MO. Argus raised Altria Group to a “hold” rating in a research note on Friday, May 31st. UBS Group boosted their price target on Altria Group from $36.10 to $36.50 and gave the company a “sell” rating in a report on Monday, April 8th. Stifel Nicolaus reiterated a “buy” rating and issued a $50.00 price target on shares of Altria Group in a report on Monday, March 25th. Finally, StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a report on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $46.90.

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.