Strategic Investment Advisors MI Purchases 7,698 Shares of Altria Group, Inc. $MO

Strategic Investment Advisors MI increased its position in Altria Group, Inc. (NYSE:MO) by 14.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,747 shares of the company’s stock after purchasing an additional 7,698 shares during the quarter. Strategic Investment Advisors MI’s holdings in Altria Group were worth $4,141,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC bought a new stake in shares of Altria Group during the second quarter worth approximately $27,000. Navalign LLC bought a new position in Altria Group in the fourth quarter valued at approximately $28,000. Creative Capital Management Investments LLC acquired a new stake in Altria Group during the 4th quarter worth $29,000. Miller Capital Partners Inc. acquired a new stake in Altria Group during the 4th quarter worth $29,000. Finally, Hughes Financial Services LLC raised its position in shares of Altria Group by 62.9% during the 4th quarter. Hughes Financial Services LLC now owns 510 shares of the company’s stock valued at $29,000 after acquiring an additional 197 shares during the last quarter. 57.41% of the stock is owned by institutional investors.

Altria Group Stock Performance

Shares of NYSE:MO opened at $75.03 on Thursday. The company has a 50 day moving average price of $71.95 and a two-hundred day moving average price of $68.23. The company has a market capitalization of $125.30 billion, a PE ratio of 15.70, a PEG ratio of 2.70 and a beta of 0.45. Altria Group, Inc. has a 52 week low of $54.70 and a 52 week high of $77.06.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, April 30th. The company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. Altria Group had a net margin of 34.34% and a negative return on equity of 298.69%. The company had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.58 billion. During the same period last year, the firm posted $1.23 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, sell-side analysts forecast that Altria Group, Inc. will post 5.7 earnings per share for the current year.

Altria Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Monday, June 15th were paid a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend was Monday, June 15th. Altria Group’s dividend payout ratio (DPR) is presently 88.70%.

Insider Activity

In other Altria Group news, Director Ellen R. Strahlman sold 2,000 shares of Altria Group stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $72.56, for a total transaction of $145,120.00. Following the transaction, the director directly owned 25,102 shares in the company, valued at approximately $1,821,401.12. The trade was a 7.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ennis Debra J. Kelly sold 5,790 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $72.25, for a total value of $418,327.50. Following the completion of the transaction, the director directly owned 73,809 shares of the company’s stock, valued at approximately $5,332,700.25. The trade was a 7.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MO shares. Wall Street Zen downgraded Altria Group from a “buy” rating to a “hold” rating in a research note on Sunday, June 21st. Jefferies Financial Group lifted their price objective on Altria Group from $50.00 to $60.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 27th. The Goldman Sachs Group reiterated a “buy” rating and issued a $77.00 price objective on shares of Altria Group in a report on Thursday, April 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Altria Group in a research note on Tuesday, July 14th. Finally, Barclays raised their target price on Altria Group from $63.00 to $64.00 and gave the stock an “underweight” rating in a report on Friday, May 15th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $70.78.

Altria Group Profile

Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.