Proficio Capital Partners LLC Grows Stock Position in Altria Group, Inc. (NYSE:MO)

Proficio Capital Partners LLC boosted its holdings in Altria Group, Inc. (NYSE:MO) by 6,819.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 296,495 shares of the company’s stock after buying an additional 292,210 shares during the period. Proficio Capital Partners LLC’s holdings in Altria Group were worth $15,504,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Franklin Resources Inc. grew its holdings in Altria Group by 2.2% in the third quarter. Franklin Resources Inc. now owns 2,159,890 shares of the company’s stock valued at $107,679,000 after purchasing an additional 46,697 shares during the period. Czech National Bank grew its stake in shares of Altria Group by 5.7% during the 4th quarter. Czech National Bank now owns 367,469 shares of the company’s stock valued at $19,215,000 after buying an additional 19,893 shares during the period. CWA Asset Management Group LLC grew its stake in shares of Altria Group by 5.3% during the 4th quarter. CWA Asset Management Group LLC now owns 240,454 shares of the company’s stock valued at $12,573,000 after buying an additional 12,011 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Altria Group by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 57,508,314 shares of the company’s stock worth $2,935,224,000 after buying an additional 589,832 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its position in shares of Altria Group by 729.8% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,969,262 shares of the company’s stock worth $100,511,000 after buying an additional 1,731,932 shares during the period. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Stock Performance

Altria Group stock opened at $55.83 on Friday. The firm has a market capitalization of $94.61 billion, a PE ratio of 8.52, a price-to-earnings-growth ratio of 2.89 and a beta of 0.64. Altria Group, Inc. has a one year low of $39.25 and a one year high of $58.03. The stock’s 50 day moving average price is $52.77 and its 200 day moving average price is $52.90.

Altria Group (NYSE:MO) last announced its earnings results on Thursday, January 30th. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.01. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. On average, analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th will be paid a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 7.31%. The ex-dividend date is Tuesday, March 25th. Altria Group’s dividend payout ratio (DPR) is 62.29%.

Analyst Ratings Changes

A number of research firms have issued reports on MO. Barclays boosted their price target on Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $55.00 to $65.00 in a report on Friday, December 6th. Morgan Stanley cut their price target on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Finally, StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $53.29.

About Altria Group

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.