9,468 Shares in Altria Group, Inc. (NYSE:MO) Purchased by White Lighthouse Investment Management Inc.

by · The Markets Daily

White Lighthouse Investment Management Inc. purchased a new position in Altria Group, Inc. (NYSE:MO – Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,468 shares of the company’s stock, valued at approximately $483,000.

A number of other institutional investors also recently bought and sold shares of the stock. Benchmark Financial Wealth Advisors LLC increased its stake in shares of Altria Group by 10.8% during the third quarter. Benchmark Financial Wealth Advisors LLC now owns 12,764 shares of the company’s stock valued at $651,000 after purchasing an additional 1,239 shares in the last quarter. Radnor Capital Management LLC increased its stake in shares of Altria Group by 1.1% during the third quarter. Radnor Capital Management LLC now owns 26,496 shares of the company’s stock valued at $1,352,000 after purchasing an additional 300 shares in the last quarter. Financial Security Advisor Inc. increased its stake in shares of Altria Group by 1.3% during the third quarter. Financial Security Advisor Inc. now owns 91,907 shares of the company’s stock valued at $4,785,000 after purchasing an additional 1,179 shares in the last quarter. Catalina Capital Group LLC grew its holdings in shares of Altria Group by 16.6% during the third quarter. Catalina Capital Group LLC now owns 8,814 shares of the company’s stock valued at $450,000 after buying an additional 1,256 shares during the last quarter. Finally, Avidian Wealth Enterprises LLC grew its holdings in shares of Altria Group by 1.6% during the third quarter. Avidian Wealth Enterprises LLC now owns 16,841 shares of the company’s stock valued at $860,000 after buying an additional 272 shares during the last quarter. 57.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MO. Barclays increased their price target on shares of Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a report on Wednesday. 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 report on Friday, November 1st. Citigroup increased their price target on shares of Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a report on Monday. Finally, Bank of America cut their price target on shares of Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $51.33.

Read Our Latest Stock Analysis on Altria Group

Altria Group Stock Up 1.4 %

MO stock traded up $0.78 during mid-day trading on Wednesday, hitting $54.97. The company had a trading volume of 557,394 shares, compared to its average volume of 9,835,145. The company has a market capitalization of $93.79 billion, a price-to-earnings ratio of 9.15, a P/E/G ratio of 3.11 and a beta of 0.64. Altria Group, Inc. has a 12-month low of $39.25 and a 12-month high of $55.05. The company has a 50-day moving average price of $51.47 and a 200 day moving average price of $48.66.

Altria Group (NYSE:MO – Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.38 EPS for the quarter, topping the consensus estimate 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 business 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 company earned $1.28 EPS. The business’s quarterly revenue was up 18.6% compared to the same quarter last year. As a group, analysts expect that Altria Group, Inc. will post 5.11 EPS for the current year.

Altria Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 16th were issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 7.42%. This is an increase from Altria Group’s previous quarterly dividend of $0.98. The ex-dividend date was Monday, September 16th. Altria Group’s dividend payout ratio is presently 68.92%.

About Altria Group

(Free Report)

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.

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