Essential Planning LLC. Buys Shares of 133,900 Altria Group, Inc. (NYSE:MO)

Essential Planning LLC. acquired a new position in shares of Altria Group, Inc. (NYSE:MO) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 133,900 shares of the company’s stock, valued at approximately $7,127,000.

Other large investors also recently modified their holdings of the company. Truvestments Capital LLC grew its stake in Altria Group by 4.3% in the fourth quarter. Truvestments Capital LLC now owns 4,581 shares of the company’s stock worth $240,000 after purchasing an additional 190 shares during the period. Aviance Capital Partners LLC grew its stake in Altria Group by 0.5% in the third quarter. Aviance Capital Partners LLC now owns 40,362 shares of the company’s stock worth $2,060,000 after purchasing an additional 191 shares during the period. Enterprise Financial Services Corp grew its stake in Altria Group by 4.0% in the fourth quarter. Enterprise Financial Services Corp now owns 5,052 shares of the company’s stock worth $264,000 after purchasing an additional 194 shares during the period. Horst & Graben Wealth Management LLC grew its stake in Altria Group by 1.5% in the fourth quarter. Horst & Graben Wealth Management LLC now owns 13,015 shares of the company’s stock worth $681,000 after purchasing an additional 198 shares during the period. Finally, Fragasso Financial Advisors Inc grew its stake in Altria Group by 3.3% in the fourth quarter. Fragasso Financial Advisors Inc now owns 6,302 shares of the company’s stock worth $330,000 after purchasing an additional 199 shares during the period. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Stock Performance

Shares of NYSE:MO opened at $58.17 on Wednesday. The stock has a market capitalization of $98.35 billion, a price-to-earnings ratio of 8.88, a PEG ratio of 2.89 and a beta of 0.56. The stock’s 50-day simple moving average is $53.40 and its two-hundred day simple moving average is $53.20. Altria Group, Inc. has a 52-week low of $40.65 and a 52-week high of $59.67.

Altria Group (NYSE:MO) last announced its earnings results on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.01. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. As a group, equities analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th will be given a dividend of $1.02 per share. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.01%. Altria Group’s payout ratio is currently 62.29%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MO. Morgan Stanley reduced their price target on Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $55.00 to $65.00 in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $53.29.

Altria Group 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.