Retirement Systems of Alabama Reduces Stock Position in Altria Group, Inc. (NYSE:MO)

Retirement Systems of Alabama decreased its position in Altria Group, Inc. (NYSE:MO) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 366,944 shares of the company’s stock after selling 6,918 shares during the quarter. Retirement Systems of Alabama’s holdings in Altria Group were worth $19,188,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Sargent Investment Group LLC purchased a new position in shares of Altria Group during the fourth quarter valued at approximately $544,000. James J. Burns & Company LLC purchased a new position in Altria Group during the 4th quarter valued at $936,000. Longboard Asset Management LP bought a new position in Altria Group in the 4th quarter worth $244,000. Rockline Wealth Management LLC lifted its position in shares of Altria Group by 7.3% in the 4th quarter. Rockline Wealth Management LLC now owns 4,403 shares of the company’s stock worth $230,000 after purchasing an additional 300 shares during the period. Finally, Hodges Capital Management Inc. bought a new stake in shares of Altria Group during the 4th quarter valued at about $226,000. 57.41% of the stock is owned by institutional investors.

Altria Group Trading Up 0.1 %

Altria Group stock opened at $52.66 on Friday. Altria Group, Inc. has a 12 month low of $39.25 and a 12 month high of $58.03. The company has a market capitalization of $89.24 billion, a price-to-earnings ratio of 8.04, a price-to-earnings-growth ratio of 2.78 and a beta of 0.64. The business’s fifty day simple moving average is $53.29 and its two-hundred day simple moving average is $52.42.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, January 30th. The company reported $1.29 EPS for the quarter, beating 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%. On average, equities research analysts predict 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 was paid on Friday, January 10th. Investors of record on Thursday, December 26th were issued a $1.02 dividend. The ex-dividend date was Thursday, December 26th. This represents a $4.08 dividend on an annualized basis and a yield of 7.75%. Altria Group’s payout ratio is currently 62.29%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft increased their target price on Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus lifted their price target on Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Morgan Stanley reduced their price target on 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. Finally, Barclays raised their price objective on Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research report on Wednesday, November 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. Based on data from MarketBeat, Altria Group has a consensus rating of “Hold” and an average 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.