Horizon Advisory Services Inc. Makes New $381,000 Investment in Altria Group, Inc. (NYSE:MO)

Horizon Advisory Services Inc. bought a new position in shares of Altria Group, Inc. (NYSE:MO) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,287 shares of the company’s stock, valued at approximately $381,000. Altria Group accounts for approximately 0.2% of Horizon Advisory Services Inc.’s investment portfolio, making the stock its 15th largest holding.

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

Altria Group Stock Up 0.2 %

Shares of MO opened at $55.15 on Tuesday. Altria Group, Inc. has a 52-week low of $39.25 and a 52-week high of $58.03. The firm has a 50-day moving average price of $52.62 and a 200 day moving average price of $52.78. The firm has a market capitalization of $93.46 billion, a PE ratio of 8.42, a P/E/G ratio of 2.89 and a beta of 0.64.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, January 30th. The company reported $1.29 earnings per share for the quarter, beating 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, December 26th were given a dividend of $1.02 per share. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $4.08 annualized dividend and a dividend yield of 7.40%. Altria Group’s dividend payout ratio (DPR) is 62.29%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. 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. Bank of America upgraded shares of Altria Group from a “neutral” rating to a “buy” rating and upped their price target for the stock from $55.00 to $65.00 in a research report on Friday, December 6th. Barclays increased their target price 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. Finally, Morgan Stanley decreased their target price on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company 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.