Redmont Wealth Advisors LLC Makes New Investment in Altria Group, Inc. (NYSE:MO)

Redmont Wealth Advisors LLC bought a new position in Altria Group, Inc. (NYSE:MO) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,524 shares of the company’s stock, valued at approximately $66,000.

A number of other large investors have also added to or reduced their stakes in the stock. Maryland Capital Advisors Inc. boosted its stake in shares of Altria Group by 154.4% during the 1st quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock worth $25,000 after acquiring an additional 349 shares during the last quarter. Criterion Capital Advisors LLC purchased a new position in shares of Altria Group during the 4th quarter worth $27,000. ZRC Wealth Management LLC boosted its stake in shares of Altria Group by 67.6% during the 4th quarter. ZRC Wealth Management LLC now owns 677 shares of the company’s stock worth $28,000 after acquiring an additional 273 shares during the last quarter. Pineridge Advisors LLC purchased a new position in shares of Altria Group during the 4th quarter worth $28,000. Finally, Westend Capital Management LLC purchased a new position in shares of Altria Group during the 1st quarter worth $29,000. Institutional investors own 57.41% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Argus upgraded shares of Altria Group to a “hold” rating in a research note on Friday, May 31st. UBS Group lifted their target price on shares of Altria Group from $36.10 to $36.50 and gave the company a “sell” rating in a research note on Monday, April 8th. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a research note on Friday, June 28th. Finally, Stifel Nicolaus restated a “buy” rating and set a $50.00 target price on shares of Altria Group in a research note on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $46.90.

Insider Transactions at Altria Group

In related news, VP Charles N. Whitaker sold 22,487 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $43.95, for a total transaction of $988,303.65. Following the completion of the sale, the vice president now owns 173,485 shares of the company’s stock, valued at $7,624,665.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Altria Group Stock Down 0.3 %

NYSE:MO traded down $0.12 during mid-day trading on Wednesday, hitting $45.93. 3,663,821 shares of the stock traded hands, compared to its average volume of 11,117,853. The stock has a market capitalization of $78.89 billion, a price-to-earnings ratio of 9.60, a PEG ratio of 2.77 and a beta of 0.66. Altria Group, Inc. has a 52 week low of $39.06 and a 52 week high of $47.19. The firm’s 50 day moving average is $45.32 and its two-hundred day moving average is $42.81.

Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.15 earnings per share (EPS) for the quarter, meeting 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 34.81% and a negative return on equity of 222.80%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.18 EPS. As a group, research analysts predict that Altria Group, Inc. will post 5.11 EPS for the current year.

Altria Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Friday, June 14th will be given a $0.98 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.92 annualized dividend and a dividend yield of 8.53%. Altria Group’s payout ratio is presently 82.01%.

About Altria Group

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.