Altria Group, Inc. (NYSE:MO) Shares Bought by King Luther Capital Management Corp

King Luther Capital Management Corp increased its stake in Altria Group, Inc. (NYSE:MO) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,372 shares of the company’s stock after buying an additional 224 shares during the quarter. King Luther Capital Management Corp’s holdings in Altria Group were worth $1,693,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Financial Life Planners purchased a new stake in shares of Altria Group during the fourth quarter valued at approximately $25,000. True Wealth Design LLC lifted its holdings in Altria Group by 420.0% in the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after buying an additional 462 shares in the last quarter. Marshall Investment Management LLC acquired a new position in Altria Group in the 4th quarter worth $32,000. Promus Capital LLC acquired a new stake in shares of Altria Group during the fourth quarter valued at about $33,000. Finally, Legacy Investment Solutions LLC acquired a new stake in Altria Group during the 3rd quarter valued at approximately $34,000. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Altria Group Stock Down 0.5 %

MO opened at $57.83 on Thursday. The firm has a market cap of $97.77 billion, a PE ratio of 8.83, a P/E/G ratio of 2.89 and a beta of 0.56. The business has a fifty day simple moving average of $53.52 and a 200-day simple moving average of $53.23. Altria Group, Inc. has a fifty-two week low of $40.65 and a fifty-two 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 for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. On average, equities research analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th will be issued a dividend of $1.02 per share. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.05%. Altria Group’s dividend payout ratio is currently 62.29%.

Analyst Upgrades and Downgrades

MO has been the subject of several research analyst reports. 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 research report on Friday, December 6th. Morgan Stanley cut their price objective on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $53.29.

Altria Group 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.