Jacobs Levy Equity Management Inc. Purchases 18,482 Shares of Altria Group, Inc. (NYSE:MO)

Jacobs Levy Equity Management Inc. increased its position in shares of Altria Group, Inc. (NYSE:MO) by 10.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 195,097 shares of the company’s stock after buying an additional 18,482 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Altria Group were worth $8,510,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Maryland Capital Advisors Inc. grew its stake in Altria Group by 154.4% in the 1st quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock valued at $25,000 after buying an additional 349 shares during the last quarter. Accordant Advisory Group Inc bought a new stake in Altria Group in the 1st quarter valued at $26,000. Criterion Capital Advisors LLC bought a new position in Altria Group during the 4th quarter worth $27,000. BNP Paribas acquired a new stake in shares of Altria Group during the first quarter worth $27,000. Finally, Pineridge Advisors LLC acquired a new stake in shares of Altria Group during the fourth quarter worth $28,000. 57.41% of the stock is owned by institutional investors.

Insider Activity at Altria Group

In related news, VP Charles N. Whitaker sold 22,487 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $43.95, for a total transaction of $988,303.65. Following the sale, the vice president now owns 173,485 shares in the company, valued at approximately $7,624,665.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.09% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Bank of America lifted their price objective on shares of Altria Group from $47.00 to $48.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. UBS Group raised their price objective on Altria Group from $36.10 to $36.50 and gave the stock a “sell” rating in a research note on Monday, April 8th. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research report on Friday, June 28th. Finally, Argus raised shares of Altria Group to a “hold” rating in a research report on Friday, May 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Altria Group has an average rating of “Hold” and an average target price of $47.10.

Altria Group Stock Up 0.0 %

Altria Group stock traded up $0.02 during trading hours on Tuesday, hitting $50.55. The stock had a trading volume of 8,653,610 shares, compared to its average volume of 10,679,569. The business’s 50 day simple moving average is $46.74 and its 200-day simple moving average is $43.76. Altria Group, Inc. has a one year low of $39.06 and a one year high of $50.85. The stock has a market cap of $86.83 billion, a price-to-earnings ratio of 10.58, a P/E/G ratio of 3.09 and a beta of 0.66.

Altria Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Friday, June 14th were paid a $0.98 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $3.92 annualized dividend and a dividend yield of 7.75%. Altria Group’s payout ratio is 82.01%.

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.