Absolute Capital Management LLC Acquires New Holdings in Altria Group, Inc. (NYSE:MO)

Absolute Capital Management LLC bought a new position in shares of Altria Group, Inc. (NYSE:MO - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,200 shares of the company's stock, valued at approximately $429,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Financial Life Planners bought a new stake in Altria Group during the fourth quarter worth about $25,000. VSM Wealth Advisory LLC acquired a new stake in Altria Group in the 4th quarter worth about $29,000. True Wealth Design LLC grew its position 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. Legacy Investment Solutions LLC acquired a new stake in shares of Altria Group during the 3rd quarter worth $34,000. Finally, Marshall Investment Management LLC acquired a new position in shares of Altria Group in the 4th quarter valued at approximately $32,000. Institutional investors own 57.41% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Bank of America upgraded Altria Group from a "neutral" rating to a "buy" rating and lifted their price target for the company from $55.00 to $65.00 in a research note on Friday, December 6th. Morgan Stanley decreased their target price on Altria Group from $54.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Friday, January 31st. 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's stock. According to MarketBeat.com, Altria Group currently has an average rating of "Hold" and a consensus target price of $53.29.

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Altria Group Stock Performance

NYSE MO traded down $0.92 during trading on Tuesday, hitting $56.73. 10,377,149 shares of the company's stock traded hands, compared to its average volume of 8,542,338. The stock has a market capitalization of $95.91 billion, a price-to-earnings ratio of 8.66, a PEG ratio of 2.89 and a beta of 0.56. The business has a 50 day moving average of $54.56 and a 200-day moving average of $53.48. Altria Group, Inc. has a 12-month low of $40.65 and a 12-month high of $59.67.

Altria Group (NYSE:MO - Get Free Report) last announced its earnings results on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.01. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. On average, analysts expect that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th will be issued a dividend of $1.02 per share. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a yield of 7.19%. Altria Group's dividend payout ratio is currently 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.