Sage Investment Counsel LLC Makes New Investment in Altria Group, Inc. (NYSE:MO)

Sage Investment Counsel LLC acquired a new position in shares of Altria Group, Inc. (NYSE:MO) during the fourth quarter, Holdings Channel reports. The fund acquired 3,970 shares of the company’s stock, valued at approximately $208,000.

Other hedge funds have also recently bought and sold shares of the company. Financial Life Planners purchased a new position in Altria Group during the 4th quarter worth $25,000. True Wealth Design LLC boosted its holdings in Altria Group by 420.0% during the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after acquiring an additional 462 shares during the last quarter. Marshall Investment Management LLC purchased a new position in Altria Group during the 4th quarter worth $32,000. Legacy Investment Solutions LLC purchased a new position in Altria Group during the 3rd quarter worth $34,000. Finally, Kestra Investment Management LLC purchased a new position in Altria Group during the 4th quarter worth $40,000. 57.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Morgan Stanley cut their price objective on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft boosted their price target 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. Bank of America raised shares of Altria Group from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $55.00 to $65.00 in a report on Friday, December 6th. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, Stifel Nicolaus boosted their price target on shares of Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Altria Group has an average rating of “Hold” and an average price target of $53.29.

Altria Group Stock Up 1.4 %

NYSE MO opened at $55.83 on Friday. The company has a market cap of $94.61 billion, a PE ratio of 8.52, a price-to-earnings-growth ratio of 2.89 and a beta of 0.64. Altria Group, Inc. has a 52 week low of $39.25 and a 52 week high of $58.03. The firm’s 50-day simple moving average is $52.77 and its two-hundred day simple moving average is $52.89.

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

Altria Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, March 25th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 7.31%. The ex-dividend date is Tuesday, March 25th. Altria Group’s dividend payout ratio (DPR) is presently 62.29%.

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.