Associated Banc Corp Has $2.48 Million Position in Altria Group, Inc. (NYSE:MO)

Associated Banc Corp grew its holdings in shares of Altria Group, Inc. (NYSE:MO) by 1.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 47,433 shares of the company’s stock after acquiring an additional 841 shares during the quarter. Associated Banc Corp’s holdings in Altria Group were worth $2,480,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MO. Financial Life Planners bought a new stake in Altria Group in the 4th quarter valued at about $25,000. True Wealth Design LLC increased its position in Altria Group by 420.0% in the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock valued at $29,000 after buying an additional 462 shares in the last quarter. Marshall Investment Management LLC bought a new stake in Altria Group in the 4th quarter valued at about $32,000. Promus Capital LLC bought a new stake in Altria Group in the 4th quarter valued at about $33,000. Finally, Legacy Investment Solutions LLC bought a new stake in Altria Group in the 3rd quarter valued at about $34,000. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Altria Group Stock Up 0.7 %

Shares of NYSE MO opened at $58.97 on Friday. Altria Group, Inc. has a twelve month low of $40.65 and a twelve month high of $59.67. The stock’s 50 day moving average price is $53.75 and its 200-day moving average price is $53.31. The company has a market capitalization of $99.70 billion, a PE ratio of 9.00, a PEG ratio of 2.89 and a beta of 0.56.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, January 30th. The company reported $1.29 EPS for the quarter, beating 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%. As a group, research analysts expect that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th will be paid a $1.02 dividend. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $4.08 annualized dividend and a yield of 6.92%. Altria Group’s payout ratio is 62.29%.

Wall Street Analyst Weigh In

MO has been the subject of a number of research analyst reports. Morgan Stanley decreased their target price on 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. Bank of America raised Altria Group from a “neutral” rating to a “buy” rating and boosted their price objective 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 issued a buy rating to the company. According to MarketBeat, Altria Group 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.