Abacus Planning Group Inc. acquired a new position in shares of Altria Group, Inc. (NYSE:MO – Get Rating) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 4,346 shares of the company’s stock, valued at approximately $227,000.
Other large investors also recently bought and sold shares of the company. Bromfield Sneider Wealth Advisors acquired a new stake in shares of Altria Group in the 1st quarter valued at $27,000. Rinkey Investments acquired a new stake in Altria Group during the 4th quarter worth $30,000. Masso Torrence Wealth Management Inc. acquired a new position in Altria Group in the fourth quarter valued at $31,000. TAP Consulting LLC acquired a new position in Altria Group in the fourth quarter valued at $32,000. Finally, Okabena Investment Services Inc. acquired a new position in Altria Group in the fourth quarter valued at $32,000. 59.05% of the stock is owned by hedge funds and other institutional investors.
NYSE:MO opened at $41.50 on Thursday. The firm has a 50 day simple moving average of $52.51 and a 200-day simple moving average of $51.04. The firm has a market cap of $75.14 billion, a PE ratio of 25.31, a P/E/G ratio of 2.36 and a beta of 0.50. Altria Group, Inc. has a 1-year low of $41.00 and a 1-year high of $57.05.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 11th. Investors of record on Wednesday, June 15th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 8.67%. The ex-dividend date is Tuesday, June 14th. Altria Group’s dividend payout ratio (DPR) is 219.51%.
Several brokerages have recently weighed in on MO. Cowen lifted their target price on shares of Altria Group from $51.00 to $53.00 in a report on Thursday, April 7th. The Goldman Sachs Group raised shares of Altria Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $48.00 to $57.00 in a report on Tuesday, March 22nd. Morgan Stanley decreased their price objective on shares of Altria Group from $50.00 to $47.00 and set an “underweight” rating on the stock in a report on Friday, June 17th. Cowen boosted their price objective on shares of Altria Group from $51.00 to $53.00 in a report on Thursday, April 7th. Finally, Sanford C. Bernstein downgraded shares of Altria Group from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $58.00 to $53.00 in a report on Tuesday, May 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Altria Group has a consensus rating of “Hold” and a consensus price target of $53.25.
About Altria Group (Get Rating)
Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company provides cigarettes primarily under the Marlboro brand; cigars and pipe tobacco principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands, as well as provides on! oral nicotine pouches.
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