Illinois Municipal Retirement Fund Boosts Stock Position in Altria Group, Inc. (NYSE:MO)

Illinois Municipal Retirement Fund boosted its stake in Altria Group, Inc. (NYSE:MO) by 25.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 342,019 shares of the company’s stock after buying an additional 70,444 shares during the period. Illinois Municipal Retirement Fund’s holdings in Altria Group were worth $17,884,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. NorthCrest Asset Manangement LLC purchased a new position in shares of Altria Group during the 3rd quarter worth $231,000. Modera Wealth Management LLC increased its holdings in shares of Altria Group by 10.0% in the 3rd quarter. Modera Wealth Management LLC now owns 21,461 shares of the company’s stock worth $1,095,000 after buying an additional 1,953 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Altria Group by 7.9% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 388,836 shares of the company’s stock worth $19,861,000 after buying an additional 28,451 shares during the last quarter. Ridgepath Capital Management LLC increased its holdings in shares of Altria Group by 4.6% in the 3rd quarter. Ridgepath Capital Management LLC now owns 58,876 shares of the company’s stock worth $3,005,000 after buying an additional 2,603 shares during the last quarter. Finally, Insight Folios Inc grew its holdings in Altria Group by 4.4% during the 3rd quarter. Insight Folios Inc now owns 163,302 shares of the company’s stock valued at $8,335,000 after purchasing an additional 6,892 shares during the last quarter. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Altria Group Stock Performance

Shares of NYSE MO opened at $55.15 on Tuesday. The company’s fifty day moving average price is $52.62 and its 200 day moving average price is $52.78. The company has a market capitalization of $93.46 billion, a PE ratio of 8.42, a price-to-earnings-growth ratio of 2.89 and a beta of 0.64. Altria Group, Inc. has a 1 year low of $39.25 and a 1 year high of $58.03.

Altria Group (NYSE:MO) last released 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 net margin of 46.90% and a negative return on equity of 258.72%. On average, equities analysts expect that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 26th were given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.40%. The ex-dividend date was Thursday, December 26th. Altria Group’s dividend payout ratio is presently 62.29%.

Wall Street Analysts Forecast Growth

MO has been the subject of several research reports. Barclays boosted their price objective on shares of Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. Bank of America raised shares of Altria Group from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $55.00 to $65.00 in a research report on Friday, December 6th. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Stifel Nicolaus upped their price target on shares of Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $53.29.

About Altria Group

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.