GAMMA Investing LLC Purchases New Position in Altria Group, Inc. (NYSE:MO)

GAMMA Investing LLC purchased a new stake in shares of Altria Group, Inc. (NYSE:MO) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 8,220 shares of the company’s stock, valued at approximately $330,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Altshuler Shaham Ltd purchased a new stake in Altria Group in the third quarter worth about $26,000. Nemes Rush Group LLC grew its holdings in Altria Group by 103.2% in the third quarter. Nemes Rush Group LLC now owns 636 shares of the company’s stock worth $27,000 after purchasing an additional 323 shares during the period. ZRC Wealth Management LLC grew its holdings in Altria Group by 67.6% in the fourth quarter. ZRC Wealth Management LLC now owns 677 shares of the company’s stock worth $28,000 after purchasing an additional 273 shares during the period. Criterion Capital Advisors LLC purchased a new stake in shares of Altria Group during the fourth quarter valued at approximately $27,000. Finally, Financial Gravity Asset Management Inc. grew its holdings in shares of Altria Group by 1,800.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 703 shares of the company’s stock valued at $30,000 after buying an additional 666 shares during the last quarter. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Stock Up 0.1 %

Shares of Altria Group stock opened at $42.92 on Thursday. Altria Group, Inc. has a twelve month low of $39.06 and a twelve month high of $48.04. The company has a market cap of $73.72 billion, a price-to-earnings ratio of 9.39, a price-to-earnings-growth ratio of 2.57 and a beta of 0.65. The company’s 50 day moving average is $42.05 and its 200 day moving average is $41.45.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.15 earnings per share for the quarter, hitting the consensus estimate of $1.15. Altria Group had a net margin of 33.21% and a negative return on equity of 244.55%. The business had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.71 billion. During the same period last year, the firm earned $1.18 earnings per share. The company’s quarterly revenue was down 1.0% on a year-over-year basis. Sell-side analysts expect that Altria Group, Inc. will post 5.11 EPS for the current fiscal year.

Altria Group declared that its board has authorized a stock buyback program on Thursday, February 1st that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 1.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Altria Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, March 25th will be given a $0.98 dividend. The ex-dividend date is Friday, March 22nd. This represents a $3.92 annualized dividend and a yield of 9.13%. Altria Group’s payout ratio is presently 85.78%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $50.00 price target on shares of Altria Group in a report on Monday, March 25th. StockNews.com cut shares of Altria Group from a “buy” rating to a “hold” rating in a report on Sunday, April 14th. Finally, UBS Group increased their price target on shares of Altria Group from $36.10 to $36.50 and gave the company a “sell” rating in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $46.90.

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.