LGT Fund Management Co Ltd. Invests $2.53 Million in Altria Group, Inc. (NYSE:MO)

LGT Fund Management Co Ltd. bought a new stake in Altria Group, Inc. (NYSE:MO - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 48,337 shares of the company's stock, valued at approximately $2,528,000.

Several other hedge funds have also recently made changes to their positions in MO. Financial Life Planners bought a new stake in shares of Altria Group during the 4th quarter valued at $25,000. True Wealth Design LLC raised its stake in shares of Altria Group by 420.0% during the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company's stock valued at $29,000 after purchasing an additional 462 shares during the period. Marshall Investment Management LLC bought a new stake in shares of Altria Group during the 4th quarter valued at $32,000. Legacy Investment Solutions LLC bought a new stake in shares of Altria Group during the 3rd quarter valued at $34,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Altria Group during the 4th quarter valued at $40,000. 57.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MO has been the topic of a number of analyst reports. Barclays boosted their price objective on Altria Group from $45.00 to $46.00 and gave the company an "underweight" rating in a research note on Wednesday, November 6th. Morgan Stanley decreased their price objective on Altria Group from $54.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Friday, January 31st. Finally, Bank of America upgraded Altria Group from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $55.00 to $65.00 in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Altria Group currently has a consensus rating of "Hold" and a consensus price target of $53.29.

Altria Group Trading Down 0.6 %

Shares of MO traded down $0.35 during midday trading on Wednesday, reaching $55.95. The stock had a trading volume of 7,409,587 shares, compared to its average volume of 7,879,282. The company's 50-day moving average is $52.95 and its 200 day moving average is $53.01. Altria Group, Inc. has a 12-month low of $40.65 and a 12-month high of $58.59. The company has a market capitalization of $94.60 billion, a price-to-earnings ratio of 8.54, a price-to-earnings-growth ratio of 2.89 and a beta of 0.64.

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

Altria Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 7.29%. The ex-dividend date is Tuesday, March 25th. Altria Group's dividend payout ratio is presently 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.