Harvest Fund Management Co. Ltd Acquires 20,142 Shares of Altria Group, Inc. (NYSE:MO)

Harvest Fund Management Co. Ltd increased its holdings in Altria Group, Inc. (NYSE:MO) by 781.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,720 shares of the company’s stock after purchasing an additional 20,142 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Altria Group were worth $1,189,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MO. Financial Life Planners bought a new position in shares of Altria Group during the fourth quarter valued at about $25,000. VSM Wealth Advisory LLC purchased a new stake in Altria Group during the 4th quarter valued at about $29,000. True Wealth Design LLC grew its position 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. Legacy Investment Solutions LLC purchased a new position in Altria Group in the 3rd quarter worth approximately $34,000. Finally, Marshall Investment Management LLC bought a new stake in Altria Group in the fourth quarter valued at approximately $32,000. Institutional investors own 57.41% of the company’s stock.

Altria Group Price Performance

NYSE:MO opened at $57.97 on Thursday. Altria Group, Inc. has a one year low of $40.65 and a one year high of $59.67. The company’s 50-day simple moving average is $54.16 and its 200 day simple moving average is $53.42. The firm has a market capitalization of $98.01 billion, a P/E ratio of 8.85, a PEG ratio of 2.89 and a beta of 0.56.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, January 30th. The company reported $1.29 EPS for the quarter, topping 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th will be issued a dividend of $1.02 per share. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 annualized dividend and a dividend yield of 7.04%. Altria Group’s payout ratio is presently 62.29%.

Analyst Ratings Changes

Several research analysts recently commented on MO shares. Morgan Stanley decreased their target price on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Bank of America upgraded shares of Altria Group from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $55.00 to $65.00 in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $53.29.

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.