Generali Asset Management SPA SGR Purchases Shares of 48,253 Altria Group, Inc. (NYSE:MO)

Generali Asset Management SPA SGR bought a new stake in shares of Altria Group, Inc. (NYSE:MO) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. 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 acquired a new position in shares of Altria Group during the 4th quarter valued at $25,000. True Wealth Design LLC increased its stake 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 buying an additional 462 shares during the period. Marshall Investment Management LLC purchased a new stake in Altria Group during the 4th quarter worth $32,000. Promus Capital LLC purchased a new stake in Altria Group during the 4th quarter worth $33,000. Finally, Legacy Investment Solutions LLC purchased a new stake in Altria Group during the 3rd quarter worth $34,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Wall Street Analyst Weigh In

MO has been the subject of several research analyst reports. 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 research report on Friday, January 31st. Bank of America raised shares of Altria Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $55.00 to $65.00 in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $53.29.

Altria Group Trading Down 0.6 %

Shares of NYSE:MO opened at $57.97 on Thursday. The company has a 50 day moving average of $54.16 and a 200-day moving average of $53.42. The firm 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. Altria Group, Inc. has a twelve month low of $40.65 and a twelve month high of $59.67.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, January 30th. The company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. Equities research analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.04%. The ex-dividend date is Tuesday, March 25th. Altria Group’s dividend payout ratio is currently 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.