Russell Investments Group Ltd. Acquires 194,630 Shares of Altria Group, Inc. (NYSE:MO)

Russell Investments Group Ltd. raised its position in Altria Group, Inc. (NYSE:MO - Free Report) by 38.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 696,210 shares of the company's stock after purchasing an additional 194,630 shares during the quarter. Russell Investments Group Ltd.'s holdings in Altria Group were worth $36,403,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Financial Life Planners acquired a new stake in Altria Group in the fourth quarter valued at $25,000. VSM Wealth Advisory LLC acquired a new position in shares of Altria Group in the fourth quarter worth approximately $29,000. Marshall Investment Management LLC bought a new stake in Altria Group in the fourth quarter valued at approximately $32,000. Promus Capital LLC acquired a new stake in Altria Group during the 4th quarter valued at approximately $33,000. Finally, Legacy Investment Solutions LLC bought a new position in Altria Group during the 3rd quarter worth approximately $34,000. 57.41% of the stock is owned by institutional investors and hedge funds.

Altria Group Stock Up 0.5 %

MO stock traded up $0.27 during midday trading on Friday, reaching $56.65. 3,518,483 shares of the company's stock traded hands, compared to its average volume of 9,010,554. Altria Group, Inc. has a 52 week low of $40.65 and a 52 week high of $60.18. The company has a market cap of $95.78 billion, a price-to-earnings ratio of 8.65, a P/E/G ratio of 2.89 and a beta of 0.54. The firm's fifty day moving average price is $56.14 and its 200-day moving average price is $54.00.

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Altria Group (NYSE:MO - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.29 earnings per share 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%. Analysts forecast 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. Stockholders of record on Tuesday, March 25th will be paid a $1.02 dividend. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 annualized dividend and a dividend yield of 7.20%. Altria Group's payout ratio is 62.29%.

Wall Street Analyst Weigh In

MO has been the topic of a number of analyst reports. UBS Group upped their price objective on shares of Altria Group from $42.00 to $46.00 and gave the company a "sell" rating in a research note on Tuesday, April 1st. 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 research report on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft set a $60.00 price target on Altria Group in a report on Tuesday, April 1st. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $54.00.

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.