Concurrent Investment Advisors LLC Grows Position in Altria Group, Inc. (NYSE:MO)

Concurrent Investment Advisors LLC grew its stake in Altria Group, Inc. (NYSE:MO) by 3.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,942 shares of the company’s stock after acquiring an additional 3,036 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Altria Group were worth $4,546,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Franklin Resources Inc. lifted its holdings in Altria Group by 2.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,159,890 shares of the company’s stock valued at $107,679,000 after purchasing an additional 46,697 shares in the last quarter. Czech National Bank lifted its stake in shares of Altria Group by 5.7% during the fourth quarter. Czech National Bank now owns 367,469 shares of the company’s stock valued at $19,215,000 after buying an additional 19,893 shares during the period. CWA Asset Management Group LLC lifted its stake in shares of Altria Group by 5.3% during the fourth quarter. CWA Asset Management Group LLC now owns 240,454 shares of the company’s stock valued at $12,573,000 after buying an additional 12,011 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Altria Group by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 57,508,314 shares of the company’s stock worth $2,935,224,000 after acquiring an additional 589,832 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in Altria Group by 729.8% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,969,262 shares of the company’s stock worth $100,511,000 after acquiring an additional 1,731,932 shares during the period. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Altria Group Stock Performance

Shares of NYSE:MO opened at $54.31 on Friday. The stock has a 50-day simple moving average of $52.61 and a 200-day simple moving average of $52.66. The stock has a market capitalization of $92.05 billion, a P/E ratio of 8.29, a PEG ratio of 2.81 and a beta of 0.64. Altria Group, Inc. has a 1 year low of $39.25 and a 1 year high of $58.03.

Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) for the quarter, topping 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%. Analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 26th were given a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 7.51%. The ex-dividend date was Thursday, December 26th. Altria Group’s dividend payout ratio (DPR) is presently 62.29%.

Analyst Ratings Changes

A number of brokerages have weighed in on MO. Barclays increased their price target on Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 6th. Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $55.00 to $65.00 in a research report on Friday, December 6th. Morgan Stanley lowered their price target on Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Stifel Nicolaus raised their target price on shares of Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $53.29.

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.