48,253 Shares in Altria Group, Inc. (NYSE:MO) Acquired by Generali Asset Management SPA SGR

Generali Asset Management SPA SGR bought a new position in Altria Group, Inc. (NYSE:MO) during the fourth quarter, Holdings Channel.com reports. The fund bought 48,253 shares of the company’s stock, valued at approximately $2,523,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Life Planners bought a new stake in shares of Altria Group in the 4th quarter worth approximately $25,000. True Wealth Design LLC raised its holdings in shares of Altria Group by 420.0% in the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after purchasing an additional 462 shares in the last quarter. Marshall Investment Management LLC bought a new stake in shares of Altria Group in the 4th quarter worth approximately $32,000. Promus Capital LLC acquired a new stake in shares of Altria Group during the fourth quarter valued at approximately $33,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Altria Group during the third quarter valued at approximately $34,000. 57.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley cut their price target 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. Bank of America upgraded shares of Altria Group from a “neutral” rating to a “buy” rating and boosted their price target 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 issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $53.29.

Altria Group Stock Down 0.6 %

Altria Group stock opened at $57.97 on Thursday. Altria Group, Inc. has a 12 month low of $40.65 and a 12 month high of $59.67. The stock has a market cap of $98.01 billion, a P/E ratio of 8.85, a P/E/G ratio of 2.89 and a beta of 0.56. The company’s fifty day simple moving average is $54.16 and its 200-day simple moving average is $53.42.

Altria Group (NYSE:MO) last issued its 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 negative return on equity of 258.72% and a net margin of 46.90%. On average, equities research analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors 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 yield of 7.04%. The ex-dividend date of this dividend is Tuesday, March 25th. Altria Group’s payout ratio is presently 62.29%.

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.