Altria Group, Inc. (NYSE:MO) Shares Acquired by Assetmark Inc.

Assetmark Inc. raised its holdings in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 3.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,231,825 shares of the company's stock after acquiring an additional 77,574 shares during the quarter. Assetmark Inc. owned approximately 0.13% of Altria Group worth $116,702,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Financial Life Planners purchased a new stake in shares of Altria Group in the 4th quarter valued at about $25,000. True Wealth Design LLC increased 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 during the period. Marshall Investment Management LLC purchased a new stake in Altria Group in the fourth quarter valued at approximately $32,000. Legacy Investment Solutions LLC acquired a new stake in shares of Altria Group in the third quarter valued at approximately $34,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Altria Group during the fourth quarter worth approximately $40,000. Hedge funds and other institutional investors own 57.41% of the company's stock.

Altria Group Stock Down 0.6 %

NYSE MO traded down $0.35 during trading hours on Wednesday, hitting $55.95. 7,409,587 shares of the stock were exchanged, compared to its average volume of 7,879,282. Altria Group, Inc. has a 12-month low of $40.65 and a 12-month high of $58.59. The stock has a 50-day moving average of $52.95 and a 200 day moving average of $53.01. The company has a market cap of $94.60 billion, a price-to-earnings ratio of 8.54, a price-to-earnings-growth ratio of 2.89 and a beta of 0.64.

Altria Group (NYSE:MO - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.29 EPS for the quarter, beating 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%. On average, equities research analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.29%. Altria Group's dividend payout ratio (DPR) is presently 62.29%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MO shares. Barclays upped their price target on shares of Altria Group from $45.00 to $46.00 and gave the company an "underweight" rating in a research report on Wednesday, November 6th. Bank of America raised shares of Altria Group from a "neutral" rating to a "buy" rating and upped their target price for the company from $55.00 to $65.00 in a report on Friday, December 6th. Finally, Morgan Stanley lowered their price target 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. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $53.29.

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.