Convergence Investment Partners LLC Raises Stock Holdings in Altria Group, Inc. (NYSE:MO)

Convergence Investment Partners LLC grew its holdings in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 23.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 95,244 shares of the company's stock after buying an additional 17,985 shares during the period. Altria Group accounts for about 1.1% of Convergence Investment Partners LLC's holdings, making the stock its 17th largest holding. Convergence Investment Partners LLC's holdings in Altria Group were worth $4,980,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in MO. Franklin Resources Inc. boosted its holdings in Altria Group by 2.2% in the third quarter. Franklin Resources Inc. now owns 2,159,890 shares of the company's stock valued at $107,679,000 after purchasing an additional 46,697 shares in the last quarter. Czech National Bank boosted its holdings in shares of Altria Group by 5.7% in the 4th quarter. Czech National Bank now owns 367,469 shares of the company's stock valued at $19,215,000 after buying an additional 19,893 shares in the last quarter. CWA Asset Management Group LLC boosted its holdings in shares of Altria Group by 5.3% in the 4th quarter. CWA Asset Management Group LLC now owns 240,454 shares of the company's stock valued at $12,573,000 after buying an additional 12,011 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Altria Group by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 57,508,314 shares of the company's stock valued at $2,935,224,000 after buying an additional 589,832 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in Altria Group by 729.8% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,969,262 shares of the company's stock worth $100,511,000 after acquiring an additional 1,731,932 shares in the last quarter. 57.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on MO shares. Barclays boosted their target price on Altria Group from $45.00 to $46.00 and gave the company an "underweight" rating in a report on Wednesday, November 6th. StockNews.com raised Altria Group from a "hold" rating to a "buy" rating in a report on Monday, November 4th. Morgan Stanley reduced their price objective on Altria Group from $54.00 to $53.00 and set an "equal weight" rating for the company in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft lifted their target price on Altria Group from $52.00 to $60.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Finally, Stifel Nicolaus upped their price target on Altria Group from $54.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Altria Group presently has a consensus rating of "Hold" and an average target price of $53.29.

Altria Group Stock Performance

Altria Group stock traded up $0.68 during midday trading on Friday, reaching $55.01. The company's stock had a trading volume of 8,815,909 shares, compared to its average volume of 7,319,094. The firm has a market capitalization of $93.22 billion, a PE ratio of 8.40, a P/E/G ratio of 2.84 and a beta of 0.64. Altria Group, Inc. has a fifty-two week low of $39.25 and a fifty-two week high of $58.03. The stock's 50 day simple moving average is $52.61 and its 200 day simple moving average is $52.66.

Altria Group (NYSE:MO - Get Free Report) last released its quarterly earnings data 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%. Equities 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 declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Thursday, December 26th were issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.42%. The ex-dividend date of this dividend was Thursday, December 26th. Altria Group's dividend payout ratio is currently 62.29%.

Altria Group Company 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.