Weiss Asset Management LP Makes New $341,000 Investment in Altria Group, Inc. (NYSE:MO)

Weiss Asset Management LP acquired a new stake in Altria Group, Inc. (NYSE:MOFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,465 shares of the company’s stock, valued at approximately $341,000.

Other hedge funds have also recently bought and sold shares of the company. WealthPlan Investment Management LLC boosted its position in shares of Altria Group by 39.9% in the third quarter. WealthPlan Investment Management LLC now owns 27,273 shares of the company’s stock worth $1,147,000 after acquiring an additional 7,785 shares during the last quarter. Jump Financial LLC purchased a new position in Altria Group in the third quarter valued at approximately $261,000. Metis Global Partners LLC lifted its position in Altria Group by 2.6% during the third quarter. Metis Global Partners LLC now owns 54,767 shares of the company’s stock valued at $2,303,000 after buying an additional 1,374 shares in the last quarter. Dudley Capital Management LLC lifted its holdings in shares of Altria Group by 1.5% during the 3rd quarter. Dudley Capital Management LLC now owns 31,512 shares of the company’s stock valued at $1,325,000 after acquiring an additional 455 shares in the last quarter. Finally, Qsemble Capital Management LP purchased a new stake in shares of Altria Group in the third quarter worth about $345,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Analyst Ratings Changes

MO has been the subject of a number of analyst reports. StockNews.com cut Altria Group from a “buy” rating to a “hold” rating in a report on Sunday, April 14th. UBS Group raised their price target on shares of Altria Group from $36.10 to $36.50 and gave the company a “sell” rating in a report on Monday, April 8th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $50.00 price objective on shares of Altria Group in a report on Monday, March 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $46.90.

Check Out Our Latest Report on MO

Insiders Place Their Bets

In other Altria Group news, VP Charles N. Whitaker sold 22,487 shares of Altria Group stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $43.95, for a total value of $988,303.65. Following the completion of the transaction, the vice president now owns 173,485 shares of the company’s stock, valued at $7,624,665.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.09% of the stock is currently owned by company insiders.

Altria Group Stock Up 0.8 %

Shares of Altria Group stock traded up $0.38 on Thursday, hitting $45.53. 2,845,956 shares of the company’s stock traded hands, compared to its average volume of 11,365,479. Altria Group, Inc. has a 52-week low of $39.06 and a 52-week high of $46.60. The stock has a market cap of $78.20 billion, a P/E ratio of 9.50, a PEG ratio of 2.81 and a beta of 0.66. The firm’s 50-day moving average is $43.61 and its 200 day moving average is $42.04.

Altria Group (NYSE:MOGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.15 EPS for the quarter, meeting analysts’ consensus estimates of $1.15. The firm had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.71 billion. Altria Group had a net margin of 34.81% and a negative return on equity of 222.80%. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.18 EPS. Equities research analysts forecast that Altria Group, Inc. will post 5.11 EPS for the current year.

Altria Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 8.61%. The ex-dividend date is Friday, June 14th. Altria Group’s payout ratio is currently 82.01%.

Altria Group declared that its board has approved a stock buyback plan on Thursday, February 1st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 1.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

About Altria Group

(Free Report)

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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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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