Edgestream Partners L.P. Acquires Shares of 21,462 Altria Group, Inc. (NYSE:MO)

Edgestream Partners L.P. acquired a new stake in shares of Altria Group, Inc. (NYSE:MO - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 21,462 shares of the company's stock, valued at approximately $1,122,000.

Other large investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its stake in Altria Group by 2.2% during the 3rd quarter. Franklin Resources Inc. now owns 2,159,890 shares of the company's stock valued at $107,679,000 after acquiring an additional 46,697 shares during the last quarter. Czech National Bank raised its holdings in shares of Altria Group by 5.7% during the fourth quarter. Czech National Bank now owns 367,469 shares of the company's stock worth $19,215,000 after purchasing an additional 19,893 shares during the period. CWA Asset Management Group LLC raised its holdings in shares of Altria Group by 5.3% during the fourth quarter. CWA Asset Management Group LLC now owns 240,454 shares of the company's stock worth $12,573,000 after purchasing an additional 12,011 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Altria Group by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 57,508,314 shares of the company's stock worth $2,935,224,000 after purchasing an additional 589,832 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Altria Group by 8.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 706,967 shares of the company's stock worth $36,084,000 after purchasing an additional 54,102 shares during the period. 57.41% of the stock is currently owned by institutional investors.

Altria Group Trading Down 1.4 %

Altria Group stock opened at $58.17 on Wednesday. The stock has a market cap of $98.35 billion, a price-to-earnings ratio of 8.88, a PEG ratio of 2.89 and a beta of 0.56. The company's 50-day moving average price is $53.40 and its two-hundred day moving average price is $53.20. Altria Group, Inc. has a 52 week low of $40.65 and a 52 week high of $59.67.

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Altria Group (NYSE:MO - Get Free Report) last released its 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 net margin of 46.90% and a negative return on equity of 258.72%. Research analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th will be given 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 7.01%. Altria Group's dividend payout ratio (DPR) is 62.29%.

Wall Street Analysts Forecast Growth

MO has been the topic of a number of research reports. Bank of America raised shares of Altria Group from a "neutral" rating to a "buy" rating and increased their target price for the stock from $55.00 to $65.00 in a report on Friday, December 6th. Morgan Stanley dropped their target price on shares of 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 analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target 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.

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