Pitcairn Co. Increases Stock Position in Altria Group, Inc. (NYSE:MO)

Pitcairn Co. boosted its holdings in Altria Group, Inc. (NYSE:MO) by 6.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,641 shares of the company’s stock after purchasing an additional 3,196 shares during the quarter. Pitcairn Co.’s holdings in Altria Group were worth $2,648,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Financial Life Planners acquired a new position in Altria Group in the 4th quarter valued at $25,000. VSM Wealth Advisory LLC purchased a new position in Altria Group during the fourth quarter worth about $29,000. Marshall Investment Management LLC purchased a new stake in Altria Group in the 4th quarter valued at approximately $32,000. Promus Capital LLC acquired a new position in Altria Group during the 4th quarter worth approximately $33,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Altria Group in the 3rd quarter valued at approximately $34,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on MO shares. Deutsche Bank Aktiengesellschaft cut Altria Group from a “buy” rating to a “hold” rating in a research report on Tuesday. UBS Group raised their price objective on shares of Altria Group from $42.00 to $46.00 and gave the company a “sell” rating in a research note on Tuesday. Morgan Stanley decreased their price objective 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, Bank of America upgraded shares of Altria Group from a “neutral” rating to a “buy” rating and lifted their price target for the company from $55.00 to $65.00 in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Altria Group presently has an average rating of “Hold” and a consensus price target of $54.00.

Altria Group Stock Down 2.7 %

NYSE MO opened at $57.21 on Thursday. The stock has a market cap of $96.72 billion, a price-to-earnings ratio of 8.73, a price-to-earnings-growth ratio of 2.89 and a beta of 0.56. Altria Group, Inc. has a fifty-two week low of $40.65 and a fifty-two week high of $60.18. The business has a fifty day moving average of $55.51 and a 200-day moving average of $53.72.

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%. As a group, analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, March 25th will be paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.13%. The ex-dividend date is Tuesday, March 25th. 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.