Tarbox Family Office Inc. raised its position in shares of Altria Group, Inc. (NYSE:MO – Free Report) by 5.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,020 shares of the company’s stock after buying an additional 265 shares during the quarter. Tarbox Family Office Inc.’s holdings in Altria Group were worth $256,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Van ECK Associates Corp raised its position in Altria Group by 120.6% in the 1st quarter. Van ECK Associates Corp now owns 8,762,047 shares of the company’s stock worth $382,201,000 after buying an additional 4,789,788 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Altria Group by 3,786.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,743,443 shares of the company’s stock worth $88,985,000 after buying an additional 1,698,585 shares during the last quarter. AQR Capital Management LLC raised its position in Altria Group by 25.0% in the 2nd quarter. AQR Capital Management LLC now owns 6,490,441 shares of the company’s stock worth $295,055,000 after buying an additional 1,299,703 shares during the last quarter. Cetera Investment Advisers raised its position in Altria Group by 415.4% in the 1st quarter. Cetera Investment Advisers now owns 984,285 shares of the company’s stock worth $42,935,000 after buying an additional 793,327 shares during the last quarter. Finally, Ilex Capital Partners UK LLP purchased a new position in Altria Group in the 1st quarter worth about $27,613,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.
Altria Group Trading Down 0.4 %
Shares of NYSE:MO opened at $49.72 on Friday. The stock has a 50 day moving average of $51.42 and a 200 day moving average of $48.02. The company has a market cap of $84.83 billion, a PE ratio of 8.57, a price-to-earnings-growth ratio of 2.89 and a beta of 0.65. Altria Group, Inc. has a 12-month low of $39.06 and a 12-month high of $54.95.
Altria Group Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 16th were paid a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 8.21%. This is an increase from Altria Group’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend was Monday, September 16th. Altria Group’s dividend payout ratio is presently 70.34%.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the company. Bank of America decreased their target price on Altria Group from $57.00 to $53.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Citigroup upped their price target on shares of Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. StockNews.com lowered shares of Altria Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Stifel Nicolaus upped their price target on shares of Altria Group from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Barclays upped their price target on shares of Altria Group from $43.00 to $45.00 and gave the company an “underweight” rating in a research report on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Altria Group currently has a consensus rating of “Hold” and a consensus target price of $48.20.
Get Our Latest Stock Analysis on MO
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.
Featured Articles
- Five stocks we like better than Altria Group
- P/E Ratio Calculation: How to Assess Stocks
- Texas Roadhouse Stock Steering for New Highs This Year
- There Are Different Types of Stock To Invest In
- Monopar Therapeutics Skyrockets 400% on Licensing Deal
- Following Congress Stock Trades
- Tractor Supply Stock Pulls Back: A Prime Buying Opportunity
Want to see what other hedge funds are holding MO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altria Group, Inc. (NYSE:MO – Free Report).
Receive News & Ratings for Altria Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altria Group and related companies with MarketBeat.com's FREE daily email newsletter.