Kentucky Retirement Systems reduced its holdings in Altria Group, Inc. (NYSE:MO – Free Report) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 117,250 shares of the company’s stock after selling 1,615 shares during the quarter. Kentucky Retirement Systems’ holdings in Altria Group were worth $6,131,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in MO. Financial Life Planners purchased a new stake in Altria Group in the fourth quarter worth about $25,000. True Wealth Design LLC raised its position in shares of Altria Group by 420.0% in the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after acquiring an additional 462 shares in the last quarter. Legacy Investment Solutions LLC purchased a new position in shares of Altria Group in the 3rd quarter valued at approximately $34,000. Kestra Investment Management LLC bought a new stake in shares of Altria Group during the fourth quarter valued at approximately $40,000. Finally, Peterson Financial Group Inc. purchased a new stake in Altria Group in the third quarter worth $41,000. 57.41% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts have commented on the company. Barclays raised their price objective on Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. Stifel Nicolaus boosted their price objective on shares of Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, Morgan Stanley cut 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. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Altria Group presently has a consensus rating of “Hold” and an average target price of $53.29.
Altria Group Stock Performance
Shares of Altria Group stock opened at $54.31 on Friday. The company has a 50-day simple moving average of $52.61 and a two-hundred day simple moving average of $52.66. The stock has a market capitalization of $92.05 billion, a PE ratio of 8.29, a price-to-earnings-growth ratio of 2.84 and a beta of 0.64. Altria Group, Inc. has a 52-week low of $39.25 and a 52-week high of $58.03.
Altria Group (NYSE:MO – Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 forecast that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.
Altria Group Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 26th were paid a dividend of $1.02 per share. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $4.08 dividend on an annualized basis and a yield of 7.51%. Altria Group’s dividend payout ratio is presently 62.29%.
Altria Group Company 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.
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