Opal Wealth Advisors LLC Buys 1,888 Shares of Altria Group, Inc. (NYSE:MO)

Opal Wealth Advisors LLC lifted its stake in Altria Group, Inc. (NYSE:MO) by 33.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,548 shares of the company’s stock after buying an additional 1,888 shares during the period. Opal Wealth Advisors LLC’s holdings in Altria Group were worth $453,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Csenge Advisory Group lifted its stake in Altria Group by 29.1% during the fourth quarter. Csenge Advisory Group now owns 54,684 shares of the company’s stock worth $2,859,000 after purchasing an additional 12,320 shares during the last quarter. Truist Financial Corp lifted its stake in Altria Group by 27.6% during the fourth quarter. Truist Financial Corp now owns 2,418,074 shares of the company’s stock worth $126,441,000 after purchasing an additional 523,146 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its stake in Altria Group by 40.2% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 70,826 shares of the company’s stock worth $3,703,000 after purchasing an additional 20,309 shares during the last quarter. First Merchants Corp lifted its stake in Altria Group by 56.1% during the fourth quarter. First Merchants Corp now owns 27,983 shares of the company’s stock worth $1,463,000 after purchasing an additional 10,058 shares during the last quarter. Finally, WealthCare Investment Partners LLC lifted its stake in Altria Group by 2.0% during the fourth quarter. WealthCare Investment Partners LLC now owns 19,913 shares of the company’s stock worth $1,046,000 after purchasing an additional 400 shares during the last quarter. 57.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MO shares. Deutsche Bank Aktiengesellschaft set a $60.00 price target on Altria Group in a research note on Tuesday, April 1st. Needham & Company LLC upgraded Altria Group to a “hold” rating in a research note on Thursday, May 22nd. Wall Street Zen cut Altria Group from a “buy” rating to a “hold” rating in a research note on Thursday, May 1st. Citigroup increased their price target on Altria Group from $52.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, April 25th. Finally, Stifel Nicolaus increased their price target on Altria Group from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Altria Group currently has a consensus rating of “Hold” and a consensus price target of $56.00.

Altria Group Stock Down 0.3%

NYSE MO opened at $59.74 on Friday. The company has a market capitalization of $100.64 billion, a price-to-earnings ratio of 9.12, a PEG ratio of 2.89 and a beta of 0.60. Altria Group, Inc. has a twelve month low of $43.83 and a twelve month high of $61.26. The stock has a fifty day simple moving average of $58.75 and a 200 day simple moving average of $56.11.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.04. The business had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.64 billion. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. Altria Group’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.15 earnings per share. Research analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Monday, June 16th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.08 dividend on an annualized basis and a yield of 6.83%. Altria Group’s payout ratio is 68.34%.

Altria Group Company 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.