Promus Capital LLC Makes New $33,000 Investment in Altria Group, Inc. (NYSE:MO)

Promus Capital LLC bought a new stake in shares of Altria Group, Inc. (NYSE:MO) in the 4th quarter, Holdings Channel reports. The fund bought 630 shares of the company’s stock, valued at approximately $33,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Robeco Institutional Asset Management B.V. boosted its stake in Altria Group by 7.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 387,382 shares of the company’s stock valued at $19,772,000 after acquiring an additional 25,206 shares during the last quarter. Avidian Wealth Enterprises LLC raised its stake in shares of Altria Group by 1.6% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 16,841 shares of the company’s stock valued at $860,000 after purchasing an additional 272 shares in the last quarter. Catalina Capital Group LLC lifted its position in shares of Altria Group by 16.6% during the third quarter. Catalina Capital Group LLC now owns 8,814 shares of the company’s stock worth $450,000 after purchasing an additional 1,256 shares during the last quarter. Radnor Capital Management LLC grew its stake in Altria Group by 1.1% in the third quarter. Radnor Capital Management LLC now owns 26,496 shares of the company’s stock worth $1,352,000 after purchasing an additional 300 shares in the last quarter. Finally, Concurrent Investment Advisors LLC increased its holdings in Altria Group by 0.6% in the third quarter. Concurrent Investment Advisors LLC now owns 83,906 shares of the company’s stock valued at $4,283,000 after buying an additional 532 shares during the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Trading Up 2.1 %

Shares of Altria Group stock opened at $57.13 on Friday. The stock has a market capitalization of $96.59 billion, a price-to-earnings ratio of 8.72, a PEG ratio of 2.89 and a beta of 0.64. Altria Group, Inc. has a twelve month low of $40.65 and a twelve month high of $58.59. The business’s 50 day simple moving average is $53.04 and its 200-day simple moving average is $53.04.

Altria Group (NYSE:MO) last issued its earnings results on Thursday, January 30th. The company reported $1.29 earnings per share for the quarter, topping 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%. Sell-side analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current 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 given a $1.02 dividend. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 annualized dividend and a yield of 7.14%. Altria Group’s dividend payout ratio is presently 62.29%.

Wall Street Analyst Weigh In

A number of research analysts have commented on MO shares. Morgan Stanley reduced their target price on Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $55.00 to $65.00 in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Altria Group presently has a consensus rating of “Hold” and an average price target 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.