Peterson Wealth Services Purchases Shares of 59,430 Altria Group, Inc. $MO

Peterson Wealth Services acquired a new position in Altria Group, Inc. (NYSE:MO) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 59,430 shares of the company’s stock, valued at approximately $3,926,000. Altria Group accounts for approximately 0.9% of Peterson Wealth Services’ investment portfolio, making the stock its 23rd largest position.

Several other hedge funds have also recently added to or reduced their stakes in the business. CWA Asset Management Group LLC lifted its position in Altria Group by 8.6% during the 3rd quarter. CWA Asset Management Group LLC now owns 335,418 shares of the company’s stock worth $22,158,000 after buying an additional 26,624 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Altria Group by 1.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,522,209 shares of the company’s stock worth $232,677,000 after acquiring an additional 44,303 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Altria Group by 1.0% during the second quarter. Vanguard Group Inc. now owns 159,717,148 shares of the company’s stock worth $9,364,216,000 after purchasing an additional 1,599,923 shares in the last quarter. Silver Oak Securities Incorporated lifted its position in shares of Altria Group by 155.4% during the third quarter. Silver Oak Securities Incorporated now owns 31,220 shares of the company’s stock worth $2,062,000 after purchasing an additional 18,997 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Altria Group during the second quarter valued at approximately $126,471,000. Institutional investors own 57.41% of the company’s stock.

Altria Group Stock Performance

Shares of Altria Group stock opened at $62.30 on Tuesday. The firm has a fifty day moving average of $59.19 and a two-hundred day moving average of $61.82. The stock has a market capitalization of $104.59 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 3.42 and a beta of 0.47. Altria Group, Inc. has a 52 week low of $51.85 and a 52 week high of $68.60.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, January 29th. The company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.02). Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.The company had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $5.02 billion. During the same quarter in the prior year, the business earned $1.30 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. As a group, research analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group declared that its Board of Directors has initiated a share buyback plan on Thursday, October 30th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to reacquire up to 1.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Altria Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 26th were paid a $1.06 dividend. The ex-dividend date of this dividend was Friday, December 26th. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.8%. Altria Group’s dividend payout ratio is 103.16%.

Wall Street Analyst Weigh In

MO has been the subject of several research analyst reports. UBS Group boosted their price objective on shares of Altria Group from $63.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Argus upgraded Altria Group to a “hold” rating in a research report on Tuesday, January 13th. Stifel Nicolaus decreased their price target on Altria Group from $72.00 to $68.00 and set a “buy” rating on the stock in a report on Friday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Altria Group in a research report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Altria Group currently has a consensus rating of “Hold” and a consensus target price of $62.56.

Altria Group Company 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.