Harvest Fund Management Co. Ltd Boosts Stock Holdings in Altria Group, Inc. (NYSE:MO)

Harvest Fund Management Co. Ltd lifted its stake in Altria Group, Inc. (NYSE:MO - Free Report) by 781.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,720 shares of the company's stock after acquiring an additional 20,142 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Altria Group were worth $1,189,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Truvestments Capital LLC boosted its stake in shares of Altria Group by 4.3% during the fourth quarter. Truvestments Capital LLC now owns 4,581 shares of the company's stock valued at $240,000 after purchasing an additional 190 shares in the last quarter. Enterprise Financial Services Corp boosted its position in Altria Group by 4.0% during the fourth quarter. Enterprise Financial Services Corp now owns 5,052 shares of the company's stock valued at $264,000 after purchasing an additional 194 shares in the last quarter. Horst & Graben Wealth Management LLC grew its stake in Altria Group by 1.5% in the fourth quarter. Horst & Graben Wealth Management LLC now owns 13,015 shares of the company's stock valued at $681,000 after purchasing an additional 198 shares during the last quarter. Fragasso Financial Advisors Inc raised its holdings in Altria Group by 3.3% in the fourth quarter. Fragasso Financial Advisors Inc now owns 6,302 shares of the company's stock worth $330,000 after purchasing an additional 199 shares in the last quarter. Finally, First Citizens Financial Corp raised its holdings in Altria Group by 4.8% in the fourth quarter. First Citizens Financial Corp now owns 4,402 shares of the company's stock worth $230,000 after purchasing an additional 200 shares in the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

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Altria Group Price Performance

MO traded up $0.02 during trading on Monday, reaching $57.62. 11,946,626 shares of the company's stock were exchanged, compared to its average volume of 8,547,464. Altria Group, Inc. has a 1 year low of $40.65 and a 1 year high of $59.67. The company's fifty day simple moving average is $54.42 and its 200-day simple moving average is $53.46. The stock has a market capitalization of $97.41 billion, a P/E ratio of 8.80, a price-to-earnings-growth ratio of 2.89 and a beta of 0.56.

Altria Group (NYSE:MO - Get Free Report) last issued its earnings results on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) for the quarter, topping 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%. Equities analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th will be paid a $1.02 dividend. 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 7.08%. Altria Group's payout ratio is 62.29%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Morgan Stanley cut their price target 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. Bank of America raised shares of Altria Group from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $55.00 to $65.00 in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $53.29.

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.