Bleakley Financial Group LLC Increases Stock Position in Altria Group, Inc. (NYSE:MO)

Bleakley Financial Group LLC increased its stake in shares of Altria Group, Inc. (NYSE:MO) by 14.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,361 shares of the company’s stock after purchasing an additional 4,924 shares during the period. Bleakley Financial Group LLC’s holdings in Altria Group were worth $2,006,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Financial Life Planners bought a new position in shares of Altria Group during the 4th quarter valued at $25,000. True Wealth Design LLC increased its position in Altria Group by 420.0% during the third quarter. True Wealth Design LLC now owns 572 shares of the company’s stock valued at $29,000 after acquiring an additional 462 shares during the last quarter. Legacy Investment Solutions LLC bought a new position in Altria Group in the third quarter valued at about $34,000. Peterson Financial Group Inc. purchased a new position in Altria Group in the third quarter worth about $41,000. Finally, Fairman Group LLC grew its stake in shares of Altria Group by 85.1% during the 3rd quarter. Fairman Group LLC now owns 892 shares of the company’s stock valued at $46,000 after purchasing an additional 410 shares during the period. Institutional investors own 57.41% of the company’s stock.

Altria Group Stock Performance

Shares of Altria Group stock opened at $52.65 on Friday. Altria Group, Inc. has a fifty-two week low of $39.25 and a fifty-two week high of $58.03. The company has a market capitalization of $89.24 billion, a P/E ratio of 8.04, a P/E/G ratio of 2.78 and a beta of 0.64. The company has a fifty day moving average of $53.19 and a 200 day moving average of $52.42.

Altria Group (NYSE:MO) last released its earnings results on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.01. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. Analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

The business 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. This represents a $4.08 annualized dividend and a dividend yield of 7.75%. The ex-dividend date of this dividend was Thursday, December 26th. Altria Group’s payout ratio is currently 62.29%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Barclays increased their price objective on shares of Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 6th. Morgan Stanley dropped their price target on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $55.00 to $65.00 in a research note on Friday, December 6th. Deutsche Bank Aktiengesellschaft lifted their target price on Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. 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. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.