Procyon Advisors LLC Purchases 1,130 Shares of Altria Group, Inc. (NYSE:MO)

Procyon Advisors LLC raised its position in shares of Altria Group, Inc. (NYSE:MOFree Report) by 14.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,103 shares of the company’s stock after acquiring an additional 1,130 shares during the period. Procyon Advisors LLC’s holdings in Altria Group were worth $367,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of MO. Moneta Group Investment Advisors LLC boosted its holdings in Altria Group by 108,222.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 18,590,308 shares of the company’s stock valued at $849,763,000 after acquiring an additional 18,573,146 shares during the period. Barclays PLC grew its position in Altria Group by 84.1% during the second quarter. Barclays PLC now owns 5,426,522 shares of the company’s stock worth $245,823,000 after buying an additional 2,478,576 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Altria Group by 6.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 36,302,349 shares of the company’s stock worth $1,896,798,000 after buying an additional 2,178,596 shares in the last quarter. AQR Capital Management LLC grew its position in Altria Group by 54.1% during the third quarter. AQR Capital Management LLC now owns 4,710,670 shares of the company’s stock worth $198,084,000 after buying an additional 1,653,455 shares in the last quarter. Finally, Morgan Stanley grew its position in Altria Group by 9.8% during the fourth quarter. Morgan Stanley now owns 17,105,285 shares of the company’s stock worth $781,883,000 after buying an additional 1,531,337 shares in the last quarter. 57.41% of the stock is currently owned by institutional investors.

Altria Group Trading Down 0.1 %

NYSE MO opened at $43.62 on Friday. The stock’s 50 day moving average is $41.47 and its two-hundred day moving average is $41.56. The company has a market capitalization of $76.92 billion, a price-to-earnings ratio of 9.54, a PEG ratio of 2.63 and a beta of 0.65. Altria Group, Inc. has a 1-year low of $39.06 and a 1-year high of $48.04.

Altria Group (NYSE:MOGet Free Report) last posted its earnings results on Thursday, February 1st. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.01. Altria Group had a net margin of 33.21% and a negative return on equity of 244.55%. The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter in the previous year, the company posted $1.18 earnings per share. Altria Group’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, analysts predict that Altria Group, Inc. will post 5.08 earnings per share for the current year.

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

Altria Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, March 25th will be paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 8.99%. The ex-dividend date of this dividend is Friday, March 22nd. Altria Group’s dividend payout ratio (DPR) is currently 85.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MO shares. UBS Group reissued a “sell” rating and set a $36.10 target price on shares of Altria Group in a research report on Tuesday, January 23rd. Stifel Nicolaus reissued a “buy” rating and set a $50.00 target price on shares of Altria Group in a research report on Monday, March 25th. Finally, StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $46.82.

View Our Latest Stock Report on Altria Group

About Altria Group

(Free Report)

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.

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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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