NewEdge Advisors LLC Grows Stock Holdings in Altria Group, Inc. (NYSE:MO)

NewEdge Advisors LLC boosted its stake in Altria Group, Inc. (NYSE:MO - Free Report) by 12.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 267,165 shares of the company's stock after purchasing an additional 28,991 shares during the quarter. NewEdge Advisors LLC's holdings in Altria Group were worth $13,970,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in MO. Financial Life Planners purchased a new stake in Altria Group during the 4th quarter valued at about $25,000. Redwood Park Advisors LLC bought a new stake in shares of Altria Group during the fourth quarter valued at approximately $26,000. VSM Wealth Advisory LLC bought a new stake in shares of Altria Group during the 4th quarter valued at $29,000. Marshall Investment Management LLC purchased a new stake in shares of Altria Group in the 4th quarter worth about $32,000. Finally, Promus Capital LLC purchased a new position in Altria Group during the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 57.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MO. UBS Group increased their target price on Altria Group from $42.00 to $46.00 and gave the company a "sell" rating in a report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft set a $60.00 target price on shares of Altria Group in a report on Tuesday, April 1st. Finally, Morgan Stanley decreased their target price on 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 research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $54.00.

Altria Group Stock Performance

Shares of Altria Group stock traded up $1.00 during trading hours on Tuesday, hitting $58.63. The company's stock had a trading volume of 1,523,551 shares, compared to its average volume of 9,613,975. The business has a 50 day moving average price of $56.76 and a two-hundred day moving average price of $54.36. The company has a market cap of $99.12 billion, a PE ratio of 8.95, a PEG ratio of 2.89 and a beta of 0.54. Altria Group, Inc. has a 12-month low of $42.40 and a 12-month high of $60.18.

Altria Group (NYSE:MO - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The company reported $1.29 earnings per share (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%. As a group, research analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th will be given a $1.02 dividend. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 6.96%. 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.