LGT Group Foundation Purchases New Shares in Altria Group, Inc. (NYSE:MO)

LGT Group Foundation purchased a new stake in Altria Group, Inc. (NYSE:MO) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,526 shares of the company’s stock, valued at approximately $446,000.

Several other institutional investors and hedge funds have also modified their holdings of MO. Financial Life Planners acquired a new stake in Altria Group during the fourth quarter worth about $25,000. True Wealth Design LLC grew its stake in Altria Group by 420.0% during the third 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 stake in Altria Group during the fourth quarter worth about $32,000. Legacy Investment Solutions LLC acquired a new stake in Altria Group during the third quarter worth about $34,000. Finally, Kestra Investment Management LLC acquired a new stake in Altria Group during the fourth quarter worth about $40,000. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. 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 target price on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Finally, Bank of America raised shares of Altria Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $55.00 to $65.00 in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Altria Group presently has an average rating of “Hold” and a consensus price target of $53.29.

Altria Group Price Performance

Shares of NYSE MO opened at $57.33 on Tuesday. The company has a 50 day simple moving average of $52.84 and a 200 day simple moving average of $52.96. The firm has a market cap of $96.93 billion, a PE ratio of 8.75, a price-to-earnings-growth ratio of 2.89 and a beta of 0.64. Altria Group, Inc. has a 1 year low of $39.25 and a 1 year high of $58.03.

Altria Group (NYSE:MO) last issued its quarterly earnings data 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%. As a group, research analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th will be issued a $1.02 dividend. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a yield of 7.12%. Altria Group’s dividend payout ratio (DPR) is presently 62.29%.

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.