ExodusPoint Capital Management LP Purchases New Stake in Altria Group, Inc. (NYSE:MO)

ExodusPoint Capital Management LP acquired a new position in shares of Altria Group, Inc. (NYSE:MO - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 289,520 shares of the company's stock, valued at approximately $15,139,000.

Several other institutional investors also recently modified their holdings of MO. Franklin Resources Inc. raised 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 worth $107,679,000 after buying an additional 46,697 shares during the period. Czech National Bank lifted its holdings in shares of Altria Group by 5.7% during the 4th quarter. Czech National Bank now owns 367,469 shares of the company's stock valued at $19,215,000 after purchasing an additional 19,893 shares in the last quarter. CWA Asset Management Group LLC grew its position 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 purchasing an additional 12,011 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in Altria Group by 8.3% during the 3rd 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 in the last quarter. Finally, Wilmington Savings Fund Society FSB raised its holdings in Altria Group by 48.8% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 89,761 shares of the company's stock worth $4,581,000 after buying an additional 29,421 shares during the period. 57.41% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Morgan Stanley reduced their price target on shares of Altria Group from $54.00 to $53.00 and set an "equal weight" rating for the company in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft lowered shares of Altria Group from a "buy" rating to a "hold" rating in a research note on Tuesday, April 1st. Finally, UBS Group boosted their price target on Altria Group from $42.00 to $46.00 and gave the company a "sell" rating in a report on Tuesday, April 1st. Two equities 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, the company has a consensus rating of "Hold" and an average target price of $54.00.

Altria Group Trading Down 3.2 %

Shares of NYSE MO traded down $1.84 during mid-day trading on Friday, hitting $56.05. The company had a trading volume of 16,322,328 shares, compared to its average volume of 8,941,049. The firm has a 50-day simple moving average of $55.72 and a two-hundred day simple moving average of $53.80. The company has a market capitalization of $94.77 billion, a PE ratio of 8.56, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54. Altria Group, Inc. has a one year low of $40.65 and a one year high of $60.18.

Altria Group (NYSE:MO - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.29 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.01. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. Sell-side analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, March 25th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 7.28%. The ex-dividend date is Tuesday, March 25th. Altria Group's dividend payout ratio is currently 62.29%.

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.