BRYN MAWR TRUST Co lifted its holdings in shares of Altria Group, Inc. (NYSE:MO – Get Rating) by 3.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 66,497 shares of the company’s stock after purchasing an additional 2,104 shares during the period. BRYN MAWR TRUST Co’s holdings in Altria Group were worth $3,152,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. Regal Investment Advisors LLC increased its stake in Altria Group by 8.9% in the 4th quarter. Regal Investment Advisors LLC now owns 84,239 shares of the company’s stock valued at $3,992,000 after purchasing an additional 6,869 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in Altria Group by 36.0% in the 4th quarter. Qube Research & Technologies Ltd now owns 201,177 shares of the company’s stock valued at $9,534,000 after purchasing an additional 53,293 shares in the last quarter. Cutter & CO Brokerage Inc. increased its stake in Altria Group by 2.0% in the 4th quarter. Cutter & CO Brokerage Inc. now owns 11,464 shares of the company’s stock valued at $543,000 after purchasing an additional 225 shares in the last quarter. Confluence Wealth Services Inc. purchased a new position in Altria Group in the 4th quarter valued at approximately $1,799,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new position in Altria Group in the 4th quarter valued at approximately $190,000. 59.05% of the stock is owned by institutional investors and hedge funds.
Shares of MO stock traded up $0.87 during mid-day trading on Friday, hitting $53.04. 8,144,638 shares of the company’s stock were exchanged, compared to its average volume of 10,080,104. Altria Group, Inc. has a fifty-two week low of $42.53 and a fifty-two week high of $57.05. The stock has a 50-day simple moving average of $53.51 and a two-hundred day simple moving average of $49.81. The stock has a market cap of $96.03 billion, a price-to-earnings ratio of 32.34, a PEG ratio of 2.67 and a beta of 0.50.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 29th. Stockholders of record on Friday, March 25th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 6.79%. The ex-dividend date of this dividend was Thursday, March 24th. Altria Group’s dividend payout ratio (DPR) is 219.51%.
MO has been the topic of a number of analyst reports. Royal Bank of Canada cut Altria Group from an “outperform” rating to a “sector perform” rating and set a $53.00 target price on the stock. in a report on Monday, March 28th. Deutsche Bank Aktiengesellschaft increased their target price on Altria Group from $54.00 to $60.00 in a report on Friday, April 29th. Morgan Stanley increased their target price on Altria Group from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Wednesday, January 26th. Cowen increased their target price on Altria Group from $51.00 to $53.00 in a report on Thursday, April 7th. Finally, The Goldman Sachs Group upgraded Altria Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $48.00 to $57.00 in a report on Tuesday, March 22nd. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Altria Group has an average rating of “Hold” and a consensus price target of $53.75.
Altria Group Company Profile (Get Rating)
Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company provides cigarettes primarily under the Marlboro brand; cigars and pipe tobacco principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands, as well as provides on! oral nicotine pouches.
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