Hartford Investment Management Co. Has $5.48 Million Stake in Altria Group, Inc. (NYSE:MO)

Hartford Investment Management Co. trimmed its position in shares of Altria Group, Inc. (NYSE:MO) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 104,807 shares of the company’s stock after selling 2,710 shares during the quarter. Hartford Investment Management Co.’s holdings in Altria Group were worth $5,480,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Redhawk Wealth Advisors Inc. bought a new stake in Altria Group during the third quarter worth $661,000. Wedge Capital Management L L P NC bought a new stake in Altria Group during the third quarter worth $200,000. CX Institutional grew its holdings in Altria Group by 18.7% during the third quarter. CX Institutional now owns 102,982 shares of the company’s stock worth $5,256,000 after buying an additional 16,247 shares in the last quarter. Wesbanco Bank Inc. grew its holdings in Altria Group by 2.2% during the third quarter. Wesbanco Bank Inc. now owns 37,891 shares of the company’s stock worth $1,934,000 after buying an additional 825 shares in the last quarter. Finally, Creative Planning grew its holdings in Altria Group by 4.7% during the third quarter. Creative Planning now owns 531,504 shares of the company’s stock worth $27,128,000 after buying an additional 24,039 shares in the last quarter. 57.41% of the stock is owned by institutional investors and hedge funds.

Altria Group Stock Performance

MO stock opened at $53.90 on Wednesday. The company has a market capitalization of $91.34 billion, a price-to-earnings ratio of 8.23, a PEG ratio of 2.80 and a beta of 0.64. Altria Group, Inc. has a fifty-two week low of $39.25 and a fifty-two week high of $58.03. The stock has a fifty day moving average of $53.02 and a 200-day moving average of $52.52.

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

Altria Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, December 26th were paid a dividend of $1.02 per share. The ex-dividend date was Thursday, December 26th. This represents a $4.08 annualized dividend and a dividend yield of 7.57%. Altria Group’s payout ratio is 62.29%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and upped their price target for the stock from $55.00 to $65.00 in a report on Friday, December 6th. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Stifel Nicolaus upped their price objective on Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Morgan Stanley reduced their price objective on Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $53.29.

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.