AGF Management Ltd. Boosts Stock Holdings in Altria Group, Inc. (NYSE:MO)

AGF Management Ltd. boosted its position in Altria Group, Inc. (NYSE:MO) by 172.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 70,790 shares of the company’s stock after purchasing an additional 44,779 shares during the period. AGF Management Ltd.’s holdings in Altria Group were worth $3,702,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Financial Life Planners purchased a new position in Altria Group in the fourth quarter valued at approximately $25,000. True Wealth Design LLC lifted its position in shares of Altria Group by 420.0% during the third quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after acquiring an additional 462 shares in the last quarter. Legacy Investment Solutions LLC purchased a new stake in shares of Altria Group during the third quarter worth $34,000. Marshall Investment Management LLC purchased a new stake in shares of Altria Group during the fourth quarter worth $32,000. Finally, Promus Capital LLC purchased a new stake in shares of Altria Group during the fourth quarter worth $33,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $55.00 to $65.00 in a research report on Friday, December 6th. Morgan Stanley dropped their target price on Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Altria Group has an average rating of “Hold” and an average price target of $53.29.

Altria Group Stock Performance

Shares of MO stock opened at $57.83 on Thursday. Altria Group, Inc. has a 52-week low of $40.65 and a 52-week high of $59.67. The company has a market capitalization of $97.77 billion, a PE ratio of 8.83, a price-to-earnings-growth ratio of 2.89 and a beta of 0.56. The business’s fifty day moving average is $53.52 and its 200 day moving average is $53.23.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. On average, sell-side analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Dividend Announcement

The company also recently announced 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. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a yield of 7.05%. Altria Group’s dividend payout ratio is presently 62.29%.

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.