Allstate Corp Invests $2.67 Million in Altria Group, Inc. (NYSE:MO)

Allstate Corp bought a new position in Altria Group, Inc. (NYSE:MO - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 50,961 shares of the company's stock, valued at approximately $2,665,000.

Other large investors have also recently modified their holdings of the company. Financial Life Planners purchased a new stake in Altria Group in the fourth quarter worth $25,000. True Wealth Design LLC grew its position in shares of Altria Group by 420.0% in the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company's stock worth $29,000 after buying an additional 462 shares during the period. VSM Wealth Advisory LLC bought a new position in shares of Altria Group in the 4th quarter worth about $29,000. Marshall Investment Management LLC purchased a new position in Altria Group during the 4th quarter valued at about $32,000. Finally, Promus Capital LLC bought a new stake in Altria Group during the fourth quarter worth about $33,000. Institutional investors own 57.41% of the company's stock.

Altria Group Price Performance

NYSE MO traded down $1.19 during trading hours on Tuesday, hitting $58.83. The company's stock had a trading volume of 7,577,121 shares, compared to its average volume of 8,878,146. Altria Group, Inc. has a 12 month low of $40.65 and a 12 month high of $60.20. The company's 50 day simple moving average is $55.23 and its two-hundred day simple moving average is $53.65. The company has a market cap of $99.47 billion, a P/E ratio of 8.99, a price-to-earnings-growth ratio of 2.89 and a beta of 0.56.

Altria Group (NYSE:MO - Get Free Report) 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%. As a group, research analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

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Altria Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders 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 annualized dividend and a dividend yield of 6.94%. Altria Group's payout ratio is 62.29%.

Analyst Ratings Changes

A number of brokerages have weighed in on MO. Bank of America raised shares of Altria Group from a "neutral" rating to a "buy" rating and raised their target price for the company from $55.00 to $65.00 in a research note on Friday, December 6th. Deutsche Bank Aktiengesellschaft cut Altria Group from a "buy" rating to a "hold" rating in a research note on Tuesday. Morgan Stanley cut their target price 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. Finally, UBS Group lifted their price target on Altria Group from $42.00 to $46.00 and gave the stock a "sell" rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Altria Group has an average rating of "Hold" and a consensus price target of $54.00.

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.