Tempus Wealth Planning LLC bought a new stake in shares of Altria Group Inc (NYSE:MO) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,395 shares of the company’s stock, valued at approximately $319,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC grew its position in Altria Group by 20.6% in the 4th quarter. FMR LLC now owns 79,405,891 shares of the company’s stock worth $3,963,147,000 after purchasing an additional 13,543,287 shares during the period. State Street Corp grew its position in Altria Group by 6.6% in the 3rd quarter. State Street Corp now owns 78,832,176 shares of the company’s stock worth $3,286,972,000 after purchasing an additional 4,850,215 shares during the period. Capital World Investors grew its position in Altria Group by 12.0% in the 4th quarter. Capital World Investors now owns 74,628,168 shares of the company’s stock worth $3,724,692,000 after purchasing an additional 7,988,057 shares during the period. Capital International Investors grew its position in Altria Group by 2.7% in the 4th quarter. Capital International Investors now owns 26,320,265 shares of the company’s stock worth $1,313,644,000 after purchasing an additional 691,697 shares during the period. Finally, Geode Capital Management LLC grew its position in Altria Group by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 25,883,192 shares of the company’s stock worth $1,289,379,000 after purchasing an additional 761,711 shares during the period. 63.26% of the stock is owned by institutional investors and hedge funds.
Altria Group stock traded up $1.35 during trading hours on Tuesday, hitting $38.66. The company had a trading volume of 7,854,620 shares, compared to its average volume of 17,436,382. The firm has a market cap of $68.09 billion, a P/E ratio of -53.69, a P/E/G ratio of 1.32 and a beta of 0.61. The company has a debt-to-equity ratio of 4.28, a quick ratio of 0.31 and a current ratio of 0.59. Altria Group Inc has a 1 year low of $30.95 and a 1 year high of $57.88. The company has a 50-day moving average price of $41.22 and a two-hundred day moving average price of $45.57.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, March 25th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, March 24th. This represents a $3.36 dividend on an annualized basis and a yield of 8.69%. Altria Group’s payout ratio is 79.62%.
Several research analysts have recently weighed in on the stock. Morgan Stanley upgraded shares of Altria Group from an “equal weight” rating to an “overweight” rating and set a $49.00 price target on the stock in a research note on Monday, March 16th. ValuEngine upgraded shares of Altria Group from a “sell” rating to a “hold” rating in a research note on Tuesday, March 17th. Royal Bank of Canada reiterated a “buy” rating and set a $68.00 price target on shares of Altria Group in a research note on Monday, March 23rd. Piper Sandler upgraded shares of Altria Group from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $52.00 to $57.00 in a research note on Thursday, January 30th. Finally, Deutsche Bank dropped their price target on shares of Altria Group from $59.00 to $56.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $55.39.
About Altria Group
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.
See Also: Initial Public Offering (IPO)
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