BKM Wealth Management LLC Grows Holdings in Altria Group, Inc. (NYSE:MO)

BKM Wealth Management LLC raised its position in Altria Group, Inc. (NYSE:MO) by 111.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,384 shares of the company’s stock after purchasing an additional 1,782 shares during the period. BKM Wealth Management LLC’s holdings in Altria Group were worth $148,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Research Global Investors lifted its holdings in Altria Group by 1.9% in the 4th quarter. Capital Research Global Investors now owns 13,279,658 shares of the company’s stock valued at $535,701,000 after purchasing an additional 242,442 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Altria Group by 17.0% in the fourth quarter. Pacer Advisors Inc. now owns 9,259,451 shares of the company’s stock worth $373,526,000 after acquiring an additional 1,343,094 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Altria Group by 8.5% in the third quarter. Ameriprise Financial Inc. now owns 9,174,355 shares of the company’s stock worth $381,278,000 after acquiring an additional 722,258 shares during the last quarter. LSV Asset Management boosted its position in shares of Altria Group by 15.2% in the fourth quarter. LSV Asset Management now owns 4,681,943 shares of the company’s stock worth $188,870,000 after acquiring an additional 617,900 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Altria Group by 24.4% in the fourth quarter. Victory Capital Management Inc. now owns 4,674,441 shares of the company’s stock worth $188,567,000 after acquiring an additional 915,478 shares during the last quarter. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Altria Group Stock Up 1.1 %

MO opened at $46.03 on Tuesday. The firm has a market capitalization of $79.06 billion, a P/E ratio of 9.63, a P/E/G ratio of 2.77 and a beta of 0.66. The firm’s 50 day moving average is $45.19 and its 200-day moving average is $42.75. Altria Group, Inc. has a 52-week low of $39.06 and a 52-week high of $47.19.

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

Altria Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 14th will be paid a $0.98 dividend. The ex-dividend date is Friday, June 14th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 8.52%. Altria Group’s dividend payout ratio (DPR) is presently 82.01%.

Insider Buying and Selling

In related news, VP Charles N. Whitaker sold 22,487 shares of Altria Group stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $43.95, for a total value of $988,303.65. Following the completion of the sale, the vice president now owns 173,485 shares in the company, valued at $7,624,665.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Argus raised shares of Altria Group to a “hold” rating in a research report on Friday, May 31st. UBS Group raised their target price on shares of Altria Group from $36.10 to $36.50 and gave the stock a “sell” rating in a research report on Monday, April 8th. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $50.00 target price on shares of Altria Group in a research report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price 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.