Legend Financial Advisors Inc. Takes $52,000 Position in Altria Group, Inc. (NYSE:MO)

Legend Financial Advisors Inc. bought a new position in shares of Altria Group, Inc. (NYSE:MO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,000 shares of the company’s stock, valued at approximately $52,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Aviance Capital Partners LLC grew its position in Altria Group by 0.5% during 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. Delta Investment Management LLC grew its position in Altria Group by 2.9% during the 2nd quarter. Delta Investment Management LLC now owns 7,064 shares of the company’s stock worth $322,000 after acquiring an additional 198 shares during the last quarter. Scarborough Advisors LLC grew its position in Altria Group by 18.5% during the 2nd quarter. Scarborough Advisors LLC now owns 1,283 shares of the company’s stock worth $58,000 after acquiring an additional 200 shares during the last quarter. American Institute for Advanced Investment Management LLP grew its position in Altria Group by 3.5% during the 3rd quarter. American Institute for Advanced Investment Management LLP now owns 5,860 shares of the company’s stock worth $299,000 after acquiring an additional 200 shares during the last quarter. Finally, Ridgecrest Wealth Partners LLC boosted its position in Altria Group by 3.5% in 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 during the last quarter. Institutional investors own 57.41% of the company’s stock.

Altria Group Stock Performance

Shares of Altria Group stock traded down $0.63 during mid-day trading on Tuesday, hitting $51.46. 5,361,685 shares of the stock were exchanged, compared to its average volume of 5,668,811. Altria Group, Inc. has a 12 month low of $39.25 and a 12 month high of $58.03. The company has a 50-day simple moving average of $54.63 and a 200 day simple moving average of $51.70. The company has a market capitalization of $87.22 billion, a P/E ratio of 8.69, a P/E/G ratio of 3.03 and a beta of 0.64.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.03. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. The company had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $5.33 billion. During the same quarter in the previous year, the firm posted $1.28 EPS. Altria Group’s revenue was up 18.6% on a year-over-year basis. Analysts predict that Altria Group, Inc. will post 5.12 EPS for the current year.

Altria Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Thursday, December 26th will be issued a dividend of $1.02 per share. The ex-dividend date is Thursday, December 26th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.93%. Altria Group’s dividend payout ratio is currently 68.92%.

Wall Street Analyst Weigh In

MO has been the topic of several recent research reports. Barclays raised their price target on Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 6th. Citigroup lifted their price target on Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $55.00 to $65.00 in a report on Friday, December 6th. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $53.33.

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.