Cornercap Investment Counsel Inc. Decreases Stock Holdings in Altria Group, Inc. (NYSE:MO)

Cornercap Investment Counsel Inc. decreased its position in Altria Group, Inc. (NYSE:MO) by 3.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,669 shares of the company’s stock after selling 1,122 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Altria Group were worth $1,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Fisher Asset Management LLC increased its position in shares of Altria Group by 24.9% during the third quarter. Fisher Asset Management LLC now owns 62,355 shares of the company’s stock valued at $3,183,000 after acquiring an additional 12,444 shares during the last quarter. Townsquare Capital LLC raised its stake in shares of Altria Group by 20.6% during the third quarter. Townsquare Capital LLC now owns 74,589 shares of the company’s stock worth $3,807,000 after purchasing an additional 12,727 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Altria Group by 7.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 635,775 shares of the company’s stock valued at $32,450,000 after buying an additional 45,407 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in Altria Group by 10.3% in the third quarter. Public Sector Pension Investment Board now owns 72,830 shares of the company’s stock valued at $3,717,000 after purchasing an additional 6,800 shares during the last quarter. Finally, Providence Wealth Advisors LLC acquired a new position in shares of Altria Group during the 3rd quarter worth approximately $421,000. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Stock Performance

NYSE MO opened at $58.17 on Friday. The stock has a market cap of $98.35 billion, a PE ratio of 8.88, a PEG 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. The firm has a 50-day simple moving average of $55.07 and a 200 day simple moving average of $53.60.

Altria Group (NYSE:MO) last posted its earnings results on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) for the quarter, beating 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%. Research analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, March 25th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $4.08 annualized dividend and a dividend yield of 7.01%. Altria Group’s dividend payout ratio (DPR) is currently 62.29%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MO. Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $55.00 to $65.00 in a report on Friday, December 6th. Morgan Stanley cut 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 report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Altria Group presently has an average rating of “Hold” and a consensus target price 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.