Intact Investment Management Inc. Cuts Stock Position in Altria Group, Inc. (NYSE:MO)

Intact Investment Management Inc. decreased its position in shares of Altria Group, Inc. (NYSE:MO) by 21.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 202,100 shares of the company’s stock after selling 55,800 shares during the period. Intact Investment Management Inc.’s holdings in Altria Group were worth $10,568,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Wellington Shields Capital Management LLC grew its position in shares of Altria Group by 2.8% during the fourth quarter. Wellington Shields Capital Management LLC now owns 10,955 shares of the company’s stock valued at $573,000 after purchasing an additional 301 shares in the last quarter. May Barnhard Investments LLC purchased a new position in shares of Altria Group during the fourth quarter valued at about $293,000. Atala Financial Inc purchased a new position in shares of Altria Group during the fourth quarter valued at about $180,000. Thompson Siegel & Walmsley LLC grew its position in shares of Altria Group by 10.7% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 7,153 shares of the company’s stock valued at $374,000 after purchasing an additional 691 shares in the last quarter. Finally, Impact Capital Partners LLC purchased a new position in shares of Altria Group during the fourth quarter valued at about $503,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Trading Up 1.2 %

Shares of NYSE:MO opened at $58.50 on Friday. The company has a market cap of $98.90 billion, a price-to-earnings ratio of 8.93, a PEG ratio of 2.89 and a beta of 0.56. Altria Group, Inc. has a 12 month low of $40.65 and a 12 month high of $59.67. The company has a 50-day moving average price of $53.64 and a 200 day moving average price of $53.27.

Altria Group (NYSE:MO) last announced 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%. As a group, equities analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, March 25th will be paid a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 6.97%. The ex-dividend date of this dividend is Tuesday, March 25th. Altria Group’s payout ratio is currently 62.29%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $55.00 to $65.00 in a research report on Friday, December 6th. Morgan Stanley lowered their price target 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. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently 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.