Absolute Capital Management LLC Makes New Investment in Altria Group, Inc. (NYSE:MO)

Absolute Capital Management LLC purchased a new position in Altria Group, Inc. (NYSE:MO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,200 shares of the company’s stock, valued at approximately $429,000.

A number of other hedge funds have also modified their holdings of MO. Financial Life Planners bought a new position in shares of Altria Group in the fourth quarter worth approximately $25,000. True Wealth Design LLC boosted its position in shares of Altria Group by 420.0% in the third quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after purchasing an additional 462 shares during the period. VSM Wealth Advisory LLC purchased a new position in shares of Altria Group in the fourth quarter worth $29,000. Marshall Investment Management LLC purchased a new position in shares of Altria Group in the fourth quarter worth $32,000. Finally, Promus Capital LLC purchased a new position in shares of Altria Group in the fourth quarter worth $33,000. 57.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Morgan Stanley lowered their target price on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Bank of America raised shares of Altria Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $55.00 to $65.00 in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, three have given 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 $53.29.

Altria Group Stock Up 0.2 %

Altria Group stock opened at $58.09 on Friday. The company has a market cap of $98.21 billion, a price-to-earnings ratio of 8.87, a PEG ratio of 2.89 and a beta of 0.56. The firm’s fifty day moving average is $54.29 and its 200 day moving average is $53.45. Altria Group, Inc. has a 52-week low of $40.65 and a 52-week high of $59.67.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 research analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th will be paid a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 7.02%. The ex-dividend date of this dividend is Tuesday, March 25th. Altria Group’s dividend payout ratio is currently 62.29%.

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.