Accurate Wealth Management LLC Has $1 Million Stock Holdings in Altria Group, Inc. (NYSE:MO)

Accurate Wealth Management LLC raised its position in Altria Group, Inc. (NYSE:MO – Get Rating) by 88.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 21,796 shares of the company’s stock after purchasing an additional 10,253 shares during the period. Accurate Wealth Management LLC’s holdings in Altria Group were worth $1,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kentucky Retirement Systems grew its holdings in shares of Altria Group by 4.9% during the 3rd quarter. Kentucky Retirement Systems now owns 140,965 shares of the company’s stock worth $5,692,000 after purchasing an additional 6,588 shares in the last quarter. Aptus Capital Advisors LLC grew its holdings in shares of Altria Group by 35.1% during the 3rd quarter. Aptus Capital Advisors LLC now owns 72,673 shares of the company’s stock worth $2,946,000 after purchasing an additional 18,891 shares in the last quarter. Procyon Advisors LLC grew its holdings in shares of Altria Group by 3.9% during the 3rd quarter. Procyon Advisors LLC now owns 12,870 shares of the company’s stock worth $520,000 after purchasing an additional 487 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Altria Group by 36.2% during the 3rd quarter. IFP Advisors Inc now owns 128,178 shares of the company’s stock worth $9,151,000 after purchasing an additional 34,055 shares in the last quarter. Finally, King Luther Capital Management Corp grew its holdings in shares of Altria Group by 4.7% during the 2nd quarter. King Luther Capital Management Corp now owns 33,888 shares of the company’s stock worth $1,416,000 after purchasing an additional 1,511 shares in the last quarter. 58.68% of the stock is owned by institutional investors and hedge funds.

Altria Group Stock Down 1.8 %

Altria Group stock traded down $0.85 during trading hours on Friday, hitting $45.32. The stock had a trading volume of 32,421,688 shares, compared to its average volume of 8,115,423. The stock has a market cap of $80.92 billion, a price-to-earnings ratio of 14.21, a P/E/G ratio of 2.31 and a beta of 0.59. Altria Group, Inc. has a one year low of $40.35 and a one year high of $57.05. The business’s 50 day simple moving average is $46.28 and its 200-day simple moving average is $45.32.

Altria Group (NYSE:MO – Get Rating) last posted its earnings results on Wednesday, February 1st. The company reported $1.18 EPS for the quarter, meeting the consensus estimate of $1.18. Altria Group had a negative return on equity of 284.29% and a net margin of 22.97%. The firm had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $5.15 billion. During the same period last year, the company earned $1.09 earnings per share. The business’s quarterly revenue was down 18.7% on a year-over-year basis. Research analysts anticipate that Altria Group, Inc. will post 5.07 EPS for the current fiscal year.

Altria Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, March 24th will be given a dividend of $0.94 per share. The ex-dividend date is Thursday, March 23rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 8.30%. Altria Group’s dividend payout ratio (DPR) is 117.87%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MO shares. Morgan Stanley increased their target price on Altria Group from $43.00 to $46.00 and gave the stock an “equal weight” rating in a report on Monday, January 23rd. Citigroup upped their price objective on Altria Group from $46.50 to $49.50 and gave the stock a “neutral” rating in a research report on Tuesday, February 7th. Finally, StockNews.com began coverage on Altria Group in a research report on Thursday. They set a “buy” rating for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $47.13.

Altria Group Profile

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Altria Group, Inc operates as a holding company, which engages in the manufacture and sale of cigarettes in the United States. It operates through the following segments: Smokeable Products, Oral tobacco products, and Wine. The Smokeable Products segment consists of cigarettes manufactured and sold by PM USA and machine-made large cigars and pipe tobacco manufactured and sold by Middleton.