Tower Research Capital LLC TRC Buys 35,983 Shares of Altria Group, Inc. (NYSE:MO)

Tower Research Capital LLC TRC grew its stake in Altria Group, Inc. (NYSE:MO) by 47.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 111,544 shares of the company’s stock after purchasing an additional 35,983 shares during the period. Tower Research Capital LLC TRC’s holdings in Altria Group were worth $5,833,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MO. Financial Life Planners purchased a new stake in Altria Group in the 4th quarter worth about $25,000. Redwood Park Advisors LLC bought a new position in shares of Altria Group during the fourth quarter valued at approximately $26,000. VSM Wealth Advisory LLC purchased a new stake in shares of Altria Group in the fourth quarter worth approximately $29,000. Marshall Investment Management LLC purchased a new stake in shares of Altria Group in the fourth quarter worth approximately $32,000. Finally, Promus Capital LLC bought a new stake in shares of Altria Group during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on MO. UBS Group upped their price objective on Altria Group from $42.00 to $46.00 and gave the company a “sell” rating in a research report on Tuesday, April 1st. Morgan Stanley cut their price target 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. Finally, Deutsche Bank Aktiengesellschaft set a $60.00 price objective on shares of Altria Group in a report on Tuesday, April 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Altria Group presently has an average rating of “Hold” and an average target price of $54.00.

Altria Group Price Performance

MO stock opened at $58.13 on Monday. Altria Group, Inc. has a 1-year low of $42.02 and a 1-year high of $60.18. The business has a 50-day moving average price of $56.68 and a 200 day moving average price of $54.30. The company has a market capitalization of $98.27 billion, a P/E ratio of 8.87, a PEG ratio of 2.89 and a beta of 0.54.

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

Altria Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, March 25th will be issued a dividend of $1.02 per share. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a yield of 7.02%. Altria Group’s dividend payout ratio is currently 62.29%.

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.