Vestcor Inc raised its holdings in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 12.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 454,649 shares of the company's stock after acquiring an additional 49,942 shares during the quarter. Altria Group makes up 0.8% of Vestcor Inc's portfolio, making the stock its 24th largest holding. Vestcor Inc's holdings in Altria Group were worth $23,774,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp boosted its holdings in Altria Group by 5.6% in the 3rd quarter. State Street Corp now owns 73,481,686 shares of the company's stock worth $3,821,831,000 after buying an additional 3,910,738 shares during the period. Raymond James Financial Inc. bought a new position in Altria Group in the 4th quarter worth $137,536,000. Charles Schwab Investment Management Inc. boosted its holdings in Altria Group by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 59,805,286 shares of the company's stock worth $3,127,218,000 after buying an additional 2,296,972 shares during the period. Geode Capital Management LLC boosted its holdings in Altria Group by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 40,803,759 shares of the company's stock worth $2,079,919,000 after buying an additional 1,003,605 shares during the period. Finally, Worldquant Millennium Advisors LLC bought a new position in Altria Group in the 3rd quarter worth $32,206,000. Hedge funds and other institutional investors own 57.41% of the company's stock.
MO opened at $57.83 on Thursday. The firm has a 50-day simple moving average of $53.52 and a two-hundred day simple moving average of $53.23. The company has a market capitalization of $97.77 billion, a PE ratio of 8.83, a price-to-earnings-growth ratio of 2.89 and a beta of 0.56. Altria Group, Inc. has a 52 week low of $40.65 and a 52 week high of $59.67.
Altria Group (NYSE:MO - Get Free Report) last announced its earnings results on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) 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, sell-side analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 7.05%. The ex-dividend date is Tuesday, March 25th. Altria Group's dividend payout ratio is 62.29%.
Several research analysts recently weighed in on MO shares. Morgan Stanley dropped their target price on shares of Altria Group from $54.00 to $53.00 and set an "equal weight" rating for the company in a report on Friday, January 31st. Bank of America raised shares of Altria Group from a "neutral" rating to a "buy" rating and increased their price objective for the company from $55.00 to $65.00 in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Altria Group currently has a consensus rating of "Hold" and a consensus target price of $53.29.
Get Our Latest Research Report on MO
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.
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