Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $19.88 Million Position in Altria Group, Inc. $MO

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Altria Group, Inc. (NYSE:MO) by 5.7% during the fourth quarter, Holdings Channel reports. The fund owned 344,671 shares of the company’s stock after purchasing an additional 18,738 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Altria Group were worth $19,876,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in MO. Brighton Jones LLC increased its holdings in shares of Altria Group by 64.7% in the fourth quarter. Brighton Jones LLC now owns 17,702 shares of the company’s stock valued at $926,000 after purchasing an additional 6,954 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in shares of Altria Group by 86.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 6,361 shares of the company’s stock worth $373,000 after buying an additional 2,946 shares during the last quarter. Schnieders Capital Management LLC. lifted its stake in shares of Altria Group by 6.9% during the 2nd quarter. Schnieders Capital Management LLC. now owns 9,630 shares of the company’s stock worth $565,000 after buying an additional 618 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of Altria Group during the 2nd quarter worth about $475,000. Finally, VestGen Advisors LLC boosted its holdings in shares of Altria Group by 79.0% during the 2nd quarter. VestGen Advisors LLC now owns 10,342 shares of the company’s stock worth $606,000 after buying an additional 4,564 shares during the period. Institutional investors and hedge funds own 57.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MO shares. Stifel Nicolaus lowered their price target on shares of Altria Group from $72.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, January 30th. Citigroup boosted their price objective on Altria Group from $57.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Barclays upped their target price on Altria Group from $57.00 to $63.00 and gave the company an “underweight” rating in a research report on Monday, February 23rd. Argus upgraded Altria Group to a “hold” rating in a research note on Tuesday, January 13th. Finally, Jefferies Financial Group lifted their price target on Altria Group from $47.00 to $50.00 and gave the stock an “underperform” rating in a report on Wednesday, March 4th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $65.75.

Altria Group Stock Performance

MO stock opened at $65.46 on Thursday. Altria Group, Inc. has a 52 week low of $52.82 and a 52 week high of $70.51. The company has a market capitalization of $109.43 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 2.82 and a beta of 0.41. The company’s 50-day simple moving average is $65.89 and its 200 day simple moving average is $62.51.

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

Altria Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Wednesday, March 25th will be given a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date is Wednesday, March 25th. Altria Group’s payout ratio is presently 103.16%.

Insider Activity

In related news, SVP Charles N. Whitaker sold 27,908 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $67.57, for a total value of $1,885,743.56. Following the completion of the sale, the senior vice president directly owned 180,869 shares in the company, valued at approximately $12,221,318.33. The trade was a 13.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.08% of the company’s stock.

About Altria Group

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.