Lowe Brockenbrough & Co. Inc. Has $2.85 Million Stock Position in Altria Group, Inc. (NYSE:MO)

Lowe Brockenbrough & Co. Inc. lessened its stake in Altria Group, Inc. (NYSE:MO) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,519 shares of the company’s stock after selling 1,316 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in Altria Group were worth $2,853,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Life Planners bought a new stake in Altria Group during the fourth quarter worth $25,000. VSM Wealth Advisory LLC acquired a new position in shares of Altria Group during the 4th quarter worth about $29,000. True Wealth Design LLC raised its holdings in shares of Altria Group by 420.0% in the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock valued at $29,000 after purchasing an additional 462 shares during the period. Legacy Investment Solutions LLC acquired a new stake in Altria Group in the 3rd quarter valued at about $34,000. Finally, Marshall Investment Management LLC acquired a new stake in Altria Group in the 4th quarter valued at about $32,000. 57.41% of the stock is owned by institutional investors.

Altria Group Stock Performance

NYSE:MO opened at $58.09 on Friday. Altria Group, Inc. has a 52 week low of $40.65 and a 52 week high of $59.67. The firm’s 50-day simple moving average is $54.29 and its 200 day simple moving average is $53.45. The firm has a market cap of $98.21 billion, a price-to-earnings ratio of 8.87, a P/E/G ratio of 2.89 and a beta of 0.56.

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

Altria Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th will be given a dividend of $1.02 per share. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 annualized dividend and a yield of 7.02%. Altria Group’s dividend payout ratio is 62.29%.

Wall Street Analysts Forecast Growth

MO has been the topic of several research analyst reports. Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and upped their price objective for the company from $55.00 to $65.00 in a research note on Friday, December 6th. Morgan Stanley decreased their target price on Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $53.29.

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.