Fernwood Investment Management LLC Boosts Stock Position in Altria Group, Inc. (NYSE:MO)

Fernwood Investment Management LLC raised its stake in shares of Altria Group, Inc. (NYSE:MO) by 4.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 68,738 shares of the company’s stock after acquiring an additional 3,181 shares during the period. Fernwood Investment Management LLC’s holdings in Altria Group were worth $2,773,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MO. Altshuler Shaham Ltd acquired a new position in Altria Group during the 3rd quarter worth approximately $26,000. Nemes Rush Group LLC grew its holdings in shares of Altria Group by 103.2% in the 3rd quarter. Nemes Rush Group LLC now owns 636 shares of the company’s stock worth $27,000 after acquiring an additional 323 shares during the period. Criterion Capital Advisors LLC acquired a new stake in shares of Altria Group in the 4th quarter worth approximately $27,000. ZRC Wealth Management LLC grew its holdings in shares of Altria Group by 67.6% in the 4th quarter. ZRC Wealth Management LLC now owns 677 shares of the company’s stock worth $28,000 after acquiring an additional 273 shares during the period. Finally, Legacy Financial Group LLC acquired a new stake in shares of Altria Group in the 3rd quarter worth approximately $30,000. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Trading Up 1.0 %

Shares of Altria Group stock traded up $0.43 during trading hours on Monday, reaching $43.81. 8,655,330 shares of the company’s stock were exchanged, compared to its average volume of 11,977,851. Altria Group, Inc. has a 52-week low of $39.06 and a 52-week high of $48.04. The firm has a market capitalization of $75.25 billion, a price-to-earnings ratio of 9.16, a price-to-earnings-growth ratio of 2.60 and a beta of 0.65. The company has a fifty day moving average of $42.18 and a 200-day moving average of $41.45.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.15. Altria Group had a negative return on equity of 222.80% and a net margin of 34.81%. The company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.71 billion. During the same quarter in the prior year, the company posted $1.18 EPS. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. On average, equities research analysts anticipate that Altria Group, Inc. will post 5.11 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 Tuesday, April 30th. Shareholders of record on Monday, March 25th will be paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 8.95%. The ex-dividend date of this dividend is Friday, March 22nd. Altria Group’s dividend payout ratio is presently 82.01%.

Altria Group declared that its Board of Directors has authorized a stock repurchase program on Thursday, February 1st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MO shares. Stifel Nicolaus restated a “buy” rating and issued a $50.00 price target on shares of Altria Group in a report on Monday, March 25th. StockNews.com cut Altria Group from a “buy” rating to a “hold” rating in a report on Sunday, April 14th. Finally, UBS Group upped their price target on Altria Group from $36.10 to $36.50 and gave the stock a “sell” rating in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $46.90.

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.