Altria Group, Inc. (NYSE:MO) Stock Holdings Increased by Kovack Advisors Inc.

Kovack Advisors Inc. increased its holdings in Altria Group, Inc. (NYSE:MO) by 3.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,706 shares of the company’s stock after purchasing an additional 1,861 shares during the quarter. Kovack Advisors Inc.’s holdings in Altria Group were worth $2,086,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Clear Creek Financial Management LLC raised its position in shares of Altria Group by 4.3% in the 3rd quarter. Clear Creek Financial Management LLC now owns 5,825 shares of the company’s stock valued at $246,000 after acquiring an additional 240 shares during the period. Taylor & Morgan Wealth Management LLC raised its holdings in Altria Group by 2.1% during the 4th quarter. Taylor & Morgan Wealth Management LLC now owns 11,981 shares of the company’s stock worth $483,000 after buying an additional 246 shares during the period. Day & Ennis LLC raised its holdings in Altria Group by 4.9% during the 3rd quarter. Day & Ennis LLC now owns 5,353 shares of the company’s stock worth $225,000 after buying an additional 250 shares during the period. Whitener Capital Management Inc. raised its holdings in Altria Group by 2.6% during the 3rd quarter. Whitener Capital Management Inc. now owns 9,797 shares of the company’s stock worth $412,000 after buying an additional 250 shares during the period. Finally, Salvus Wealth Management LLC raised its holdings in Altria Group by 1.8% during the 4th quarter. Salvus Wealth Management LLC now owns 14,326 shares of the company’s stock worth $578,000 after buying an additional 250 shares during the period. 57.41% of the stock is currently owned by institutional investors.

Altria Group Price Performance

Shares of MO traded down $0.17 during mid-day trading on Friday, hitting $43.37. 13,793,861 shares of the company’s stock were exchanged, compared to its average volume of 12,018,917. The company has a market cap of $74.49 billion, a PE ratio of 9.49, a P/E/G ratio of 2.57 and a beta of 0.65. Altria Group, Inc. has a 52 week low of $39.06 and a 52 week high of $48.04. The company has a 50-day simple moving average of $42.18 and a 200 day simple moving average of $41.47.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.15 earnings per share for the quarter, hitting the consensus estimate of $1.15. The company had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.71 billion. Altria Group had a net margin of 33.21% and a negative return on equity of 244.55%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period last year, the business earned $1.18 EPS. On average, analysts anticipate that Altria Group, Inc. will post 5.11 earnings per share for the current year.

Altria Group declared that its board has authorized a stock repurchase plan on Thursday, February 1st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Altria Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, March 25th will be paid a $0.98 dividend. The ex-dividend date is Friday, March 22nd. This represents a $3.92 annualized dividend and a dividend yield of 9.04%. Altria Group’s dividend payout ratio is presently 85.78%.

Analysts Set New Price Targets

MO has been the topic of several research analyst reports. StockNews.com downgraded shares of Altria Group from a “buy” rating to a “hold” rating in a report on Sunday, April 14th. Stifel Nicolaus restated a “buy” rating and set a $50.00 target price on shares of Altria Group in a report on Monday, March 25th. Finally, UBS Group raised their target price on shares of Altria Group from $36.10 to $36.50 and gave the stock a “sell” rating in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Altria Group presently has a consensus rating of “Hold” and an average target price of $46.90.

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.