Bank of Nova Scotia Purchases 14,774 Shares of Altria Group, Inc. (NYSE:MO)

Bank of Nova Scotia boosted its position in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 708,749 shares of the company's stock after acquiring an additional 14,774 shares during the period. Bank of Nova Scotia's holdings in Altria Group were worth $37,060,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Invesco Ltd. increased its stake in Altria Group by 9.1% in the fourth quarter. Invesco Ltd. now owns 11,801,958 shares of the company's stock valued at $617,124,000 after acquiring an additional 983,328 shares during the period. Waterloo Capital L.P. lifted its position in shares of Altria Group by 3.9% during the 4th quarter. Waterloo Capital L.P. now owns 77,677 shares of the company's stock worth $4,062,000 after buying an additional 2,884 shares during the period. Titleist Asset Management LLC lifted its holdings in shares of Altria Group by 19.2% during the fourth quarter. Titleist Asset Management LLC now owns 10,723 shares of the company's stock valued at $561,000 after acquiring an additional 1,729 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of Altria Group by 3.1% in the 4th quarter. Quadrant Capital Group LLC now owns 12,771 shares of the company's stock valued at $668,000 after purchasing an additional 384 shares in the last quarter. Finally, Cascades Capital Asset Management LLC bought a new stake in shares of Altria Group in the 4th quarter worth about $255,000. Institutional investors and hedge funds own 57.41% of the company's stock.

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Altria Group Stock Performance

Altria Group stock traded up $0.30 during trading hours on Friday, reaching $56.68. 9,758,131 shares of the company's stock traded hands, compared to its average volume of 9,020,411. The firm has a market capitalization of $95.83 billion, a price-to-earnings ratio of 8.65, a PEG ratio of 2.89 and a beta of 0.54. Altria Group, Inc. has a fifty-two week low of $40.65 and a fifty-two week high of $60.18. The firm's 50 day moving average is $56.22 and its 200-day moving average is $54.06.

Altria Group (NYSE:MO - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) for the quarter, beating 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%. Analysts predict that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th will be issued a $1.02 dividend. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a yield of 7.20%. Altria Group's dividend payout ratio is presently 62.29%.

Analyst Ratings Changes

A number of equities analysts have commented on MO shares. Deutsche Bank Aktiengesellschaft set a $60.00 price target on shares of Altria Group in a research report on Tuesday, April 1st. Morgan Stanley decreased their price target 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. Finally, UBS Group boosted their price objective on Altria Group from $42.00 to $46.00 and gave the stock a "sell" rating in a research note on Tuesday, April 1st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock 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.