Altria Group, Inc. (NYSE:MO) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. grew its stake in Altria Group, Inc. (NYSE:MO) by 23.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,667,816 shares of the company’s stock after buying an additional 507,926 shares during the period. Franklin Resources Inc.’s holdings in Altria Group were worth $139,500,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Financial Life Planners acquired a new position in Altria Group in the 4th quarter worth approximately $25,000. VSM Wealth Advisory LLC acquired a new stake in shares of Altria Group in the fourth quarter worth $29,000. Marshall Investment Management LLC purchased a new position in shares of Altria Group during the fourth quarter worth $32,000. Promus Capital LLC acquired a new position in Altria Group during the fourth quarter valued at $33,000. Finally, Legacy Investment Solutions LLC purchased a new stake in Altria Group in the third quarter valued at $34,000. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Altria Group Stock Performance

NYSE:MO opened at $57.21 on Thursday. The company has a fifty day moving average of $55.51 and a two-hundred day moving average of $53.72. Altria Group, Inc. has a fifty-two week low of $40.65 and a fifty-two week high of $60.18. The stock has a market capitalization of $96.72 billion, a PE ratio of 8.73, a P/E/G ratio of 2.89 and a beta of 0.56.

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

Altria Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 7.13%. The ex-dividend date is Tuesday, March 25th. Altria Group’s payout ratio is 62.29%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Morgan Stanley reduced their price objective on Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft downgraded Altria Group from a “buy” rating to a “hold” rating in a report on Tuesday. UBS Group raised their price objective on shares of Altria Group from $42.00 to $46.00 and gave the stock a “sell” rating in a research note on Tuesday. Finally, Bank of America upgraded shares of Altria Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $55.00 to $65.00 in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $54.00.

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.