Fairvoy Private Wealth LLC Takes Position in Altria Group, Inc. (NYSE:MO)

Fairvoy Private Wealth LLC acquired a new position in shares of Altria Group, Inc. (NYSE:MO) in the 4th quarter, HoldingsChannel reports. The fund acquired 7,191 shares of the company’s stock, valued at approximately $376,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. William Allan Corp lifted its position in Altria Group by 4.3% during the 4th quarter. William Allan Corp now owns 4,940 shares of the company’s stock worth $258,000 after acquiring an additional 204 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Altria Group by 5.8% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 235,769 shares of the company’s stock worth $12,328,000 after purchasing an additional 12,844 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Altria Group by 1.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,414,856 shares of the company’s stock worth $178,563,000 after purchasing an additional 39,341 shares during the last quarter. Tandem Financial LLC bought a new stake in Altria Group during the 4th quarter valued at approximately $687,000. Finally, Strategic Financial Concepts LLC grew its holdings in Altria Group by 5,280.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 292,242 shares of the company’s stock valued at $15,281,000 after buying an additional 286,810 shares during the last quarter. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MO. Morgan Stanley cut their price target on Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft increased their price target on shares of Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Barclays boosted their price objective on shares of Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Finally, Bank of America raised Altria Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $55.00 to $65.00 in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $53.29.

Altria Group Stock Performance

NYSE:MO opened at $52.65 on Friday. The company has a market capitalization of $89.24 billion, a price-to-earnings ratio of 8.04, a PEG ratio of 2.78 and a beta of 0.64. The company has a 50-day moving average of $53.19 and a 200-day moving average of $52.42. Altria Group, Inc. has a 52 week low of $39.25 and a 52 week high of $58.03.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.29 EPS 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%. Sell-side analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 26th were given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 7.75%. The ex-dividend date was Thursday, December 26th. Altria Group’s dividend payout ratio (DPR) is 62.29%.

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.