CoreCap Advisors LLC Grows Stock Position in Altria Group, Inc. (NYSE:MO)

CoreCap Advisors LLC raised its position in Altria Group, Inc. (NYSE:MO - Free Report) by 16.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,002 shares of the company's stock after acquiring an additional 10,173 shares during the quarter. CoreCap Advisors LLC's holdings in Altria Group were worth $3,713,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MO. Raymond James Financial Inc. bought a new position in shares of Altria Group during the fourth quarter worth about $137,536,000. Charles Schwab Investment Management Inc. lifted its holdings in Altria Group by 4.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 59,805,286 shares of the company's stock worth $3,127,218,000 after buying an additional 2,296,972 shares during the last quarter. Castlekeep Investment Advisors LLC acquired a new position in shares of Altria Group in the 4th quarter worth approximately $91,000. Northern Trust Corp increased its holdings in shares of Altria Group by 9.6% in the 4th quarter. Northern Trust Corp now owns 16,432,535 shares of the company's stock valued at $859,257,000 after acquiring an additional 1,444,021 shares during the last quarter. Finally, Bridgewater Associates LP raised its position in shares of Altria Group by 86.0% during the 4th quarter. Bridgewater Associates LP now owns 2,675,347 shares of the company's stock valued at $139,894,000 after acquiring an additional 1,236,782 shares in the last quarter. Hedge funds and other institutional investors own 57.41% of the company's stock.

Wall Street Analysts Forecast Growth

MO has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on shares of Altria Group in a report on Tuesday, April 1st. Morgan Stanley lowered their price objective on shares of Altria Group from $54.00 to $53.00 and set an "equal weight" rating for the company in a research report on Friday, January 31st. Citigroup raised their target price on shares of Altria Group from $52.00 to $55.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. Barclays upped their target price on Altria Group from $46.00 to $49.00 and gave the company an "underweight" rating in a report on Friday, May 2nd. Finally, UBS Group raised their price target on Altria Group from $46.00 to $47.00 and gave the stock a "sell" rating in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, Altria Group has a consensus rating of "Hold" and an average target price of $56.00.

Altria Group Trading Up 1.1 %

Shares of NYSE MO opened at $60.51 on Wednesday. Altria Group, Inc. has a 12-month low of $43.58 and a 12-month high of $60.64. The company has a market cap of $101.93 billion, a PE ratio of 9.24, a P/E/G ratio of 2.89 and a beta of 0.60. The stock has a 50 day simple moving average of $57.82 and a 200-day simple moving average of $55.03.

Altria Group (NYSE:MO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.04. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. The company had revenue of $4.52 billion during the quarter, compared to analysts' expectations of $4.64 billion. During the same quarter in the prior year, the business posted $1.15 earnings per share. The company's revenue for the quarter was down 4.2% compared to the same quarter last year. Sell-side analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th were issued a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 6.74%. The ex-dividend date of this dividend was Tuesday, March 25th. Altria Group's dividend payout ratio (DPR) is presently 68.34%.

Altria Group Company 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.

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