Westshore Wealth LLC acquired a new position in Altria Group Inc (NYSE:MO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,645 shares of the company’s stock, valued at approximately $881,000. Altria Group comprises approximately 1.0% of Westshore Wealth LLC’s holdings, making the stock its 15th biggest position.
Other institutional investors have also recently modified their holdings of the company. USA Mutuals Advisors Inc. boosted its stake in shares of Altria Group by 7.9% in the 3rd quarter. USA Mutuals Advisors Inc. now owns 137,000 shares of the company’s stock valued at $5,603,000 after purchasing an additional 10,000 shares in the last quarter. Voya Investment Management LLC grew its stake in shares of Altria Group by 8.1% during the 3rd quarter. Voya Investment Management LLC now owns 1,498,187 shares of the company’s stock worth $61,276,000 after acquiring an additional 112,310 shares in the last quarter. State Street Corp boosted its holdings in shares of Altria Group by 6.6% in the 3rd quarter. State Street Corp now owns 78,832,176 shares of the company’s stock valued at $3,286,972,000 after buying an additional 4,850,215 shares during the last quarter. SWS Partners bought a new position in Altria Group during the 3rd quarter worth $289,000. Finally, Neo Ivy Capital Management increased its position in Altria Group by 1,820.3% during the 3rd quarter. Neo Ivy Capital Management now owns 18,665 shares of the company’s stock worth $816,000 after buying an additional 17,693 shares during the period. Institutional investors and hedge funds own 63.26% of the company’s stock.
MO has been the topic of a number of recent analyst reports. Bank of America decreased their price target on Altria Group from $58.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. Citigroup upgraded Altria Group from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Monday, December 2nd. Deutsche Bank decreased their target price on Altria Group from $59.00 to $56.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Jefferies Financial Group reiterated a “hold” rating on shares of Altria Group in a research report on Friday, January 31st. Finally, Piper Sandler upgraded Altria Group from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $52.00 to $57.00 in a research report on Thursday, January 30th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $55.39.
Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, January 30th. The company reported $1.02 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.02. Altria Group had a positive return on equity of 67.74% and a negative net margin of 5.15%. The business had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the previous year, the firm earned $0.95 earnings per share. The business’s revenue was up .3% on a year-over-year basis. As a group, equities research analysts forecast that Altria Group Inc will post 4.38 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Wednesday, March 25th will be given a dividend of $0.84 per share. The ex-dividend date is Tuesday, March 24th. This represents a $3.36 annualized dividend and a dividend yield of 8.68%. Altria Group’s dividend payout ratio (DPR) is presently 79.62%.
Altria Group Company Profile
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.
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