Fortitude Advisory Group L.L.C. cut its holdings in shares of Altria Group, Inc. (NYSE:MO – Free Report) by 13.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,532 shares of the company’s stock after selling 728 shares during the period. Fortitude Advisory Group L.L.C.’s holdings in Altria Group were worth $237,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of MO. State Street Corp lifted its holdings in Altria Group by 5.6% in the third quarter. State Street Corp now owns 73,481,686 shares of the company’s stock valued at $3,821,831,000 after buying an additional 3,910,738 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Altria Group by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 57,508,314 shares of the company’s stock valued at $2,935,224,000 after purchasing an additional 589,832 shares during the last quarter. Geode Capital Management LLC lifted its stake in Altria Group by 2.5% in the third quarter. Geode Capital Management LLC now owns 40,803,759 shares of the company’s stock valued at $2,079,919,000 after buying an additional 1,003,605 shares during the period. National Pension Service grew its position in shares of Altria Group by 19.9% during the 3rd quarter. National Pension Service now owns 4,034,414 shares of the company’s stock worth $205,916,000 after buying an additional 670,858 shares during the period. Finally, Bank of Montreal Can grew its position in shares of Altria Group by 1.2% during the 3rd quarter. Bank of Montreal Can now owns 3,051,644 shares of the company’s stock worth $155,786,000 after buying an additional 35,953 shares during the period. Institutional investors own 57.41% of the company’s stock.
Altria Group Trading Up 2.5 %
Shares of MO stock opened at $53.36 on Tuesday. The firm’s fifty day moving average price is $53.94 and its two-hundred day moving average price is $52.21. Altria Group, Inc. has a 1 year low of $39.25 and a 1 year high of $58.03. The firm has a market capitalization of $90.43 billion, a P/E ratio of 9.01, a PEG ratio of 2.67 and a beta of 0.64.
Altria Group Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Thursday, December 26th were issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 7.65%. The ex-dividend date was Thursday, December 26th. Altria Group’s payout ratio is currently 68.92%.
Analyst Ratings Changes
A number of brokerages recently issued reports on MO. Bank of America upgraded 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 report on Friday, December 6th. Deutsche Bank Aktiengesellschaft upped 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. Barclays lifted their target price on Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Citigroup raised their target price on shares of Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $53.43.
View Our Latest Research Report on Altria Group
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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