Altria Group, Inc. (NYSE:MO) Shares Acquired by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Altria Group, Inc. (NYSE:MO) by 14.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 326,722 shares of the company’s stock after purchasing an additional 40,146 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Altria Group were worth $17,084,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Financial Life Planners acquired a new stake in Altria Group in the 4th quarter valued at about $25,000. Redwood Park Advisors LLC acquired a new position in shares of Altria Group during the fourth quarter worth about $26,000. VSM Wealth Advisory LLC purchased a new stake in shares of Altria Group during the fourth quarter worth approximately $29,000. Marshall Investment Management LLC acquired a new stake in Altria Group in the fourth quarter valued at approximately $32,000. Finally, Promus Capital LLC purchased a new position in Altria Group in the fourth quarter worth approximately $33,000. 57.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Stifel Nicolaus increased their price objective on shares of Altria Group from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Morgan Stanley decreased their price objective on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. StockNews.com lowered Altria Group from a “buy” rating to a “hold” rating in a report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft set a $60.00 price target on Altria Group in a research note on Tuesday, April 1st. Finally, UBS Group upped their price objective on Altria Group from $46.00 to $47.00 and gave the stock a “sell” rating in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $56.00.

Altria Group Price Performance

Shares of NYSE:MO opened at $59.46 on Thursday. Altria Group, Inc. has a 12 month low of $43.83 and a 12 month high of $61.26. The firm has a market capitalization of $100.15 billion, a P/E ratio of 9.08, a P/E/G ratio of 2.89 and a beta of 0.60. The company’s fifty day moving average price is $58.09 and its 200 day moving average price is $55.61.

Altria Group (NYSE:MO) last posted its earnings results on Tuesday, April 29th. The company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.04. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. The business had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the previous year, the firm earned $1.15 earnings per share. The business’s revenue was down 4.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Monday, June 16th will be issued a $1.02 dividend. The ex-dividend date is Monday, June 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 6.86%. Altria Group’s payout ratio is 68.34%.

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.