Resona Asset Management Co. Ltd. Takes $25.55 Million Position in Altria Group, Inc. (NYSE:MO)

Resona Asset Management Co. Ltd. acquired a new position in Altria Group, Inc. (NYSE:MO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 488,584 shares of the company’s stock, valued at approximately $25,554,000.

A number of other institutional investors and hedge funds have also bought and sold shares of MO. Financial Life Planners bought a new position in Altria Group during the 4th quarter worth approximately $25,000. VSM Wealth Advisory LLC bought a new position in Altria Group during the fourth quarter worth $29,000. Marshall Investment Management LLC acquired a new position in Altria Group in the fourth quarter valued at $32,000. Promus Capital LLC bought a new stake in Altria Group during the fourth quarter valued at $33,000. Finally, Legacy Investment Solutions LLC acquired a new stake in Altria Group during the 3rd quarter worth about $34,000. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Altria Group Stock Down 3.2 %

NYSE MO opened at $56.05 on Friday. Altria Group, Inc. has a 52 week low of $40.65 and a 52 week high of $60.18. The business has a 50 day moving average price of $55.72 and a 200-day moving average price of $53.80. The company has a market cap of $94.77 billion, a price-to-earnings ratio of 8.56, a P/E/G ratio of 2.89 and a beta of 0.54.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.29 EPS 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%. On average, equities research analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th will be given a $1.02 dividend. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $4.08 annualized dividend and a yield of 7.28%. Altria Group’s payout ratio is 62.29%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. UBS Group boosted their price objective on Altria Group from $42.00 to $46.00 and gave the company a “sell” rating in a research note on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft lowered Altria Group from a “buy” rating to a “hold” rating in a research note on Tuesday, April 1st. Finally, Morgan Stanley cut their price target 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 analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $54.00.

Altria Group Company 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.