Rockwood Wealth Management LLC Acquires Shares of 15,193 Altria Group, Inc. (NYSE:MO)

Rockwood Wealth Management LLC bought a new position in Altria Group, Inc. (NYSE:MOFree Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 15,193 shares of the company’s stock, valued at approximately $613,000.

A number of other institutional investors also recently modified their holdings of MO. State Street Corp boosted its stake in Altria Group by 1.8% in the 2nd quarter. State Street Corp now owns 70,564,529 shares of the company’s stock worth $3,262,710,000 after purchasing an additional 1,240,150 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Altria Group by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 44,456,064 shares of the company’s stock valued at $1,857,271,000 after acquiring an additional 840,559 shares during the period. Geode Capital Management LLC grew its stake in Altria Group by 1.9% during the first quarter. Geode Capital Management LLC now owns 35,856,051 shares of the company’s stock valued at $1,596,257,000 after acquiring an additional 671,929 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Altria Group by 5.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 24,517,169 shares of the company’s stock valued at $990,002,000 after purchasing an additional 1,192,266 shares during the period. Finally, Moneta Group Investment Advisors LLC boosted its stake 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 buying an additional 18,573,146 shares during the period. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Altria Group Stock Down 0.3 %

Shares of NYSE:MO opened at $43.12 on Wednesday. The stock has a market cap of $76.03 billion, a PE ratio of 9.43, a PEG ratio of 2.61 and a beta of 0.65. The company’s fifty day moving average is $41.30 and its 200 day moving average is $41.53. Altria Group, Inc. has a 52 week low of $39.06 and a 52 week high of $48.04.

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

Altria Group announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 1st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 1.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Altria Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, March 25th will be issued a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 9.09%. The ex-dividend date of this dividend is Friday, March 22nd. Altria Group’s dividend payout ratio (DPR) is currently 85.78%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MO. StockNews.com lowered shares of Altria Group from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. UBS Group reissued a “sell” rating and issued a $36.10 target price on shares of Altria Group in a research note on Tuesday, January 23rd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $50.00 price target on shares of Altria Group in a research note on Monday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $46.82.

Check Out Our Latest Analysis on Altria Group

Altria Group Company Profile

(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.

See Also

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

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