Colonial River Wealth Management LLC Has $1.46 Million Holdings in Altria Group, Inc. (NYSE:MO)

Colonial River Wealth Management LLC grew its holdings in Altria Group, Inc. (NYSE:MOFree Report) by 23.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,234 shares of the company’s stock after purchasing an additional 6,961 shares during the period. Colonial River Wealth Management LLC’s holdings in Altria Group were worth $1,462,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Moneta Group Investment Advisors LLC grew its stake in shares of Altria Group by 108,222.5% in 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 in the last quarter. Barclays PLC grew its stake in shares of Altria Group by 84.1% in the second quarter. Barclays PLC now owns 5,426,522 shares of the company’s stock valued at $245,823,000 after buying an additional 2,478,576 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Altria Group by 6.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 36,302,349 shares of the company’s stock valued at $1,896,798,000 after buying an additional 2,178,596 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Altria Group by 54.1% in the third quarter. AQR Capital Management LLC now owns 4,710,670 shares of the company’s stock valued at $198,084,000 after buying an additional 1,653,455 shares in the last quarter. Finally, Morgan Stanley grew its stake in shares of Altria Group by 9.8% in the fourth quarter. Morgan Stanley now owns 17,105,285 shares of the company’s stock valued at $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 and hedge funds.

Analysts Set New Price Targets

MO has been the subject of a number of research analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $50.00 price objective on shares of Altria Group in a research report on Monday, March 25th. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a research report on Wednesday, March 27th. Finally, UBS Group reaffirmed a “sell” rating and set a $36.10 price objective on shares of Altria Group in a research report on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Altria Group currently has an average rating of “Hold” and an average price target of $46.82.

Get Our Latest Stock Report on Altria Group

Altria Group Trading Down 0.7 %

NYSE MO traded down $0.29 during trading on Tuesday, hitting $42.93. 10,026,104 shares of the company’s stock were exchanged, compared to its average volume of 11,786,752. The company has a market cap of $75.71 billion, a PE ratio of 9.42, a P/E/G ratio of 2.63 and a beta of 0.65. Altria Group, Inc. has a fifty-two week low of $39.06 and a fifty-two week high of $48.04. The stock’s 50 day moving average price is $41.59 and its two-hundred day moving average price is $41.50.

Altria Group (NYSE:MOGet Free Report) last issued its earnings results on Thursday, February 1st. The company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.17 by $0.01. The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.06 billion. Altria Group had a negative return on equity of 244.55% and a net margin of 33.21%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.18 earnings per share. Analysts forecast that Altria Group, Inc. will post 5.08 earnings per share for the current fiscal year.

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

Altria Group Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 9.13%. The ex-dividend date is Friday, March 22nd. Altria Group’s dividend payout ratio is currently 85.78%.

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.

Further Reading

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

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