Intech Investment Management LLC Lowers Stock Holdings in Altria Group, Inc. (NYSE:MO)

Intech Investment Management LLC reduced its stake in Altria Group, Inc. (NYSE:MO) by 39.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 290,314 shares of the company’s stock after selling 185,934 shares during the quarter. Intech Investment Management LLC’s holdings in Altria Group were worth $15,181,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp grew its stake in shares of Altria Group by 5.6% in the 3rd quarter. State Street Corp now owns 73,481,686 shares of the company’s stock valued at $3,821,831,000 after purchasing an additional 3,910,738 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Altria Group by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 59,805,286 shares of the company’s stock valued at $3,127,218,000 after purchasing an additional 2,296,972 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Altria Group by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 40,803,759 shares of the company’s stock valued at $2,079,919,000 after purchasing an additional 1,003,605 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Altria Group by 2.1% in the 4th quarter. Victory Capital Management Inc. now owns 4,488,007 shares of the company’s stock valued at $234,678,000 after purchasing an additional 93,121 shares during the last quarter. Finally, National Pension Service lifted its holdings in shares of Altria Group by 4.9% in the 4th quarter. National Pension Service now owns 4,232,359 shares of the company’s stock valued at $221,310,000 after buying an additional 197,945 shares during the period. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Altria Group Stock Performance

Shares of MO stock opened at $58.87 on Tuesday. The stock has a fifty day moving average price of $53.89 and a 200 day moving average price of $53.35. The stock has a market cap of $99.53 billion, a PE ratio of 8.99, a P/E/G ratio of 2.89 and a beta of 0.56. Altria Group, Inc. has a 1 year low of $40.65 and a 1 year high of $59.67.

Altria Group (NYSE:MO) last issued its quarterly earnings data 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 research analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, March 25th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 6.93%. The ex-dividend date of this dividend is Tuesday, March 25th. Altria Group’s payout ratio is 62.29%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MO. Bank of America raised Altria Group from a “neutral” rating to a “buy” rating and raised their price target for the company from $55.00 to $65.00 in a report on Friday, December 6th. Morgan Stanley reduced their price target on Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Altria Group presently has a consensus rating of “Hold” and a consensus target price 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.