Altria Group, Inc. (NYSE:MO) Shares Purchased by Pitcairn Co.

Pitcairn Co. raised its stake in Altria Group, Inc. (NYSE:MO) by 6.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,641 shares of the company’s stock after purchasing an additional 3,196 shares during the quarter. Pitcairn Co.’s holdings in Altria Group were worth $2,648,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Financial Life Planners acquired a new stake in Altria Group in the fourth quarter valued at $25,000. VSM Wealth Advisory LLC acquired a new stake in shares of Altria Group in the 4th quarter valued at about $29,000. Marshall Investment Management LLC bought a new position in shares of Altria Group during the fourth quarter worth about $32,000. Promus Capital LLC acquired a new position in Altria Group in the fourth quarter worth about $33,000. Finally, Legacy Investment Solutions LLC bought a new stake in Altria Group in the third quarter valued at about $34,000. 57.41% of the stock is owned by institutional investors and hedge funds.

Altria Group Stock Performance

MO stock opened at $57.21 on Thursday. Altria Group, Inc. has a 1 year low of $40.65 and a 1 year high of $60.18. The stock has a market capitalization of $96.72 billion, a price-to-earnings ratio of 8.73, a PEG ratio of 2.89 and a beta of 0.56. The stock’s fifty day moving average is $55.51 and its two-hundred day moving average is $53.72.

Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, January 30th. The company reported $1.29 earnings per share for the quarter, topping 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, analysts predict that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Announces Dividend

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. This represents a $4.08 dividend on an annualized basis and a yield of 7.13%. The ex-dividend date of this dividend is Tuesday, March 25th. Altria Group’s dividend payout ratio (DPR) is 62.29%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. UBS Group increased their target price on Altria Group from $42.00 to $46.00 and gave the stock a “sell” rating in a report on Tuesday. Morgan Stanley reduced their price objective on 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. Deutsche Bank Aktiengesellschaft lowered shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Tuesday. 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, four have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $54.00.

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.