Tritonpoint Wealth LLC Invests $200,000 in Altria Group, Inc. (NYSE:MO)

Tritonpoint Wealth LLC bought a new stake in Altria Group, Inc. (NYSE:MO) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 3,758 shares of the company’s stock, valued at approximately $200,000.

Several other large investors have also recently made changes to their positions in MO. True Wealth Design LLC increased its holdings in Altria Group by 420.0% in the third quarter. True Wealth Design LLC now owns 572 shares of the company’s stock valued at $29,000 after buying an additional 462 shares in the last quarter. Legacy Investment Solutions LLC purchased a new position in shares of Altria Group in the 3rd quarter valued at about $34,000. Peterson Financial Group Inc. acquired a new position in Altria Group in the 3rd quarter worth about $41,000. Fairman Group LLC boosted its position in Altria Group by 85.1% during the third quarter. Fairman Group LLC now owns 892 shares of the company’s stock worth $46,000 after purchasing an additional 410 shares in the last quarter. Finally, Luken Investment Analytics LLC acquired a new stake in Altria Group in the fourth quarter valued at approximately $47,000. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Bank of America raised 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 note on Friday, December 6th. Stifel Nicolaus increased their price objective on shares of Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Barclays lifted 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. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Morgan Stanley lowered their price objective on Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $53.29.

Altria Group Trading Up 1.3 %

MO stock opened at $52.20 on Monday. The firm has a 50-day moving average of $53.57 and a two-hundred day moving average of $52.35. Altria Group, Inc. has a 12 month low of $39.25 and a 12 month high of $58.03. The company has a market cap of $88.46 billion, a price-to-earnings ratio of 8.82, a PEG ratio of 2.76 and a beta of 0.64.

Altria Group (NYSE:MO) last posted its quarterly earnings results 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 negative return on equity of 233.80% and a net margin of 42.82%. As a group, equities analysts forecast that Altria Group, Inc. will post 5.13 earnings per share for the current year.

Altria Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, December 26th were given a dividend of $1.02 per share. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $4.08 annualized dividend and a dividend yield of 7.82%. Altria Group’s payout ratio is 68.92%.

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.