AGF Management Ltd. Has $3.70 Million Stock Position in Altria Group, Inc. (NYSE:MO)

AGF Management Ltd. increased its position in shares of Altria Group, Inc. (NYSE:MO) by 172.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 70,790 shares of the company’s stock after buying an additional 44,779 shares during the quarter. AGF Management Ltd.’s holdings in Altria Group were worth $3,702,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in MO. Financial Life Planners acquired a new position in Altria Group during the 4th quarter worth approximately $25,000. True Wealth Design LLC increased its holdings 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 purchasing an additional 462 shares in the last quarter. Marshall Investment Management LLC bought a new stake in Altria Group during the 4th quarter worth approximately $32,000. Promus Capital LLC bought a new stake in Altria Group during the 4th quarter worth approximately $33,000. Finally, Legacy Investment Solutions LLC bought a new stake in Altria Group during the 3rd quarter worth approximately $34,000. 57.41% of the stock is owned by institutional investors and hedge funds.

Altria Group Stock Down 0.5 %

MO stock opened at $57.83 on Thursday. The firm has a market cap of $97.77 billion, a PE ratio of 8.83, a P/E/G ratio of 2.89 and a beta of 0.56. The business has a 50 day moving average of $53.52 and a 200-day moving average of $53.23. Altria Group, Inc. has a 12-month low of $40.65 and a 12-month high of $59.67.

Altria Group (NYSE:MO) last released its earnings results on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate 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, research analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th will be paid a $1.02 dividend. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $4.08 annualized dividend and a yield of 7.05%. Altria Group’s payout ratio is 62.29%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MO shares. Bank of America raised Altria Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $55.00 to $65.00 in a report on Friday, December 6th. Morgan Stanley decreased their price objective on 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $53.29.

Altria Group 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.