Viking Fund Management LLC Boosts Stock Holdings in Altria Group, Inc. (NYSE:MO)

Viking Fund Management LLC boosted its holdings in Altria Group, Inc. (NYSE:MO - Free Report) by 12.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 175,250 shares of the company's stock after purchasing an additional 20,000 shares during the period. Altria Group comprises 1.5% of Viking Fund Management LLC's holdings, making the stock its 16th largest position. Viking Fund Management LLC's holdings in Altria Group were worth $10,519,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Financial Life Planners bought a new stake in shares of Altria Group in the 4th quarter worth approximately $25,000. Redwood Park Advisors LLC purchased a new stake in Altria Group in the 4th quarter worth approximately $26,000. VSM Wealth Advisory LLC purchased a new stake in shares of Altria Group in the fourth quarter worth $29,000. Marshall Investment Management LLC bought a new stake in Altria Group during the fourth quarter valued at $32,000. Finally, Promus Capital LLC purchased a new position in shares of Altria Group during the fourth quarter worth about $33,000. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Trading Down 1.8%

MO traded down $1.06 during midday trading on Wednesday, reaching $59.31. The company's stock had a trading volume of 7,594,252 shares, compared to its average volume of 8,637,478. Altria Group, Inc. has a 1 year low of $43.83 and a 1 year high of $61.26. The stock's 50-day moving average is $58.44 and its 200-day moving average is $55.95. The firm has a market capitalization of $99.90 billion, a price-to-earnings ratio of 9.05, a PEG ratio of 2.89 and a beta of 0.60.

Altria Group (NYSE:MO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $1.23 earnings per share 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 for the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the prior year, the business posted $1.15 EPS. The firm's quarterly revenue was down 4.2% compared to the same quarter last year. As a group, equities research 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 declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Monday, June 16th will be issued a dividend of $1.02 per share. The ex-dividend date is Monday, June 16th. This represents a $4.08 annualized dividend and a dividend yield of 6.88%. Altria Group's payout ratio is presently 68.34%.

Wall Street Analysts Forecast Growth

MO has been the subject of a number of research analyst reports. UBS Group lifted their price objective on shares of Altria Group from $46.00 to $47.00 and gave the stock a "sell" rating in a report on Wednesday, April 30th. Needham & Company LLC raised Altria Group to a "hold" rating in a research note on Thursday, May 22nd. Barclays upped their price objective on Altria Group from $46.00 to $49.00 and gave the stock an "underweight" rating in a report on Friday, May 2nd. Stifel Nicolaus raised their price target on Altria Group from $60.00 to $63.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Finally, Wall Street Zen cut shares of Altria Group from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $56.00.

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.