Secure Asset Management LLC Raises Holdings in Altria Group, Inc. (NYSE:MO)

Secure Asset Management LLC raised its holdings in Altria Group, Inc. (NYSE:MO) by 13.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,012 shares of the company’s stock after purchasing an additional 1,292 shares during the quarter. Secure Asset Management LLC’s holdings in Altria Group were worth $576,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its position in Altria Group by 163.6% in the second quarter. American Century Companies Inc. now owns 50,862 shares of the company’s stock valued at $2,317,000 after buying an additional 31,568 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of Altria Group by 68.5% in the 2nd quarter. Public Sector Pension Investment Board now owns 66,030 shares of the company’s stock worth $3,008,000 after acquiring an additional 26,853 shares during the last quarter. Fred Alger Management LLC boosted its position in shares of Altria Group by 9.8% during the 2nd quarter. Fred Alger Management LLC now owns 81,800 shares of the company’s stock worth $3,726,000 after purchasing an additional 7,323 shares during the period. Armistice Capital LLC purchased a new position in shares of Altria Group during the 2nd quarter worth approximately $367,000. Finally, Delta Investment Management LLC increased its holdings in Altria Group by 2.9% in the 2nd quarter. Delta Investment Management LLC now owns 7,064 shares of the company’s stock valued at $322,000 after purchasing an additional 198 shares during the last quarter. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Stock Performance

MO stock opened at $52.02 on Friday. Altria Group, Inc. has a fifty-two week low of $39.25 and a fifty-two week high of $58.03. The company’s 50 day moving average price is $54.01 and its 200 day moving average price is $52.09. The firm has a market capitalization of $88.17 billion, a price-to-earnings ratio of 8.79, a PEG ratio of 2.67 and a beta of 0.64.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.03. The company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $5.33 billion. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. The company’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.28 EPS. Equities analysts forecast that Altria Group, Inc. will post 5.13 EPS for the current fiscal year.

Altria Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, December 26th were given a dividend of $1.02 per share. The ex-dividend date was Thursday, December 26th. This represents a $4.08 annualized dividend and a dividend yield of 7.84%. Altria Group’s dividend payout ratio is currently 68.92%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Citigroup raised their price target on Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Morgan Stanley assumed coverage on Altria Group in a report on Thursday, January 16th. They set an “equal weight” rating and a $54.00 target price for the company. Stifel Nicolaus boosted their price target on shares of Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Barclays increased their price target on shares of Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 6th. Finally, StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $53.43.

Altria Group Profile

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.