Altria Group, Inc. (NYSE:MO) Shares Acquired by Convergence Investment Partners LLC

Convergence Investment Partners LLC boosted its holdings in Altria Group, Inc. (NYSE:MO) by 23.3% in the 4th quarter, Holdings Channel reports. The firm owned 95,244 shares of the company’s stock after purchasing an additional 17,985 shares during the period. Altria Group accounts for about 1.1% of Convergence Investment Partners LLC’s investment portfolio, making the stock its 17th biggest holding. Convergence Investment Partners LLC’s holdings in Altria Group were worth $4,980,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MO. Plan Group Financial LLC boosted its stake in shares of Altria Group by 10.4% during the fourth quarter. Plan Group Financial LLC now owns 23,436 shares of the company’s stock worth $1,225,000 after buying an additional 2,213 shares during the period. Bank of Jackson Hole Trust purchased a new stake in Altria Group during the 4th quarter valued at approximately $286,000. Callahan Advisors LLC raised its stake in Altria Group by 15.1% during the 4th quarter. Callahan Advisors LLC now owns 8,581 shares of the company’s stock valued at $449,000 after acquiring an additional 1,124 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its position in Altria Group by 40.2% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 70,826 shares of the company’s stock worth $3,703,000 after acquiring an additional 20,309 shares during the period. Finally, Davidson Trust Co. grew its stake in shares of Altria Group by 6.4% in the 4th quarter. Davidson Trust Co. now owns 12,713 shares of the company’s stock valued at $665,000 after purchasing an additional 760 shares during the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MO. Morgan Stanley decreased 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. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Barclays increased their price target on shares of Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. Stifel Nicolaus increased their target price on Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and lifted their price target for the company from $55.00 to $65.00 in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Altria Group currently has an average rating of “Hold” and an average target price of $53.29.

Altria Group Stock Performance

Shares of MO stock opened at $52.70 on Wednesday. The stock has a fifty day moving average price of $52.65 and a 200 day moving average price of $52.65. The stock has a market cap of $89.31 billion, a PE ratio of 8.05, a P/E/G ratio of 2.83 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 results 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 negative return on equity of 258.72% and a net margin of 46.90%. As a group, equities research analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, December 26th were given a $1.02 dividend. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $4.08 annualized dividend and a dividend yield of 7.74%. Altria Group’s dividend payout ratio 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.