Hedge funds and institutional investors have been increasing their stakes in Altria Group (NYE:MO), according to its most recent filing with the Securities and Exchange Commission (SEC). Hennion & Walsh Asset Management Inc. increased its position in the company by 28.5% in the fourth quarter, owning 41,116 shares worth $1,879,000 at the end of the quarter. Other investors, such as Loomis Sayles & Co. L P, 1832 Asset Management L.P., Atlas Capital Advisors LLC, McClarren Financial Advisors Inc., and MinichMacGregor Wealth Management LLC have also either added to or reduced their stakes in the company. The institutional investors own 58.68% of the stock in total. Shares of NYE MO opened at $46.20 on Wednesday, with a 12-month low of $40.35 and a 12-month high of $57.05. Altria Group also recently announced a quarterly dividend of $0.94 per share, to be paid on April 28th, and has a consensus price target of $47.13. Altria Group reported $1.18 EPS for the quarter ending on February 1st, meeting the consensus estimate, and is expected to post 5.06 EPS for the current fiscal year.
Altria Group Stock Forecast
Altria Group, Inc. has received a “hold” rating from an average of six analysts, with a projected average target price of $47.79 in the next 12 months. According to Stock Target Advisor, its stock analysis of Altria Group is “neutral,” based on an equal number of positive and negative signals. At the latest closing, Altria Group’s stock was priced at $46.20, down by 1.16% in the past week, 2.61% in the past month, and 11.58% over the last year.
Company Overview
Altria Group, Inc. is a leading manufacturer and seller of smokeable and oral tobacco products within the United States. The company’s portfolio includes popular cigarette brands, such as Marlboro, as well as cigar and pipe tobacco under the Black & Mild brand. Altria Group also offers moist smokeless tobacco and snus products through its Copenhagen, Skoal, Red Seal, and Husky brands, in addition to on! oral nicotine pouches. Its products are distributed to wholesalers and large retail organizations, including chain stores. With a history dating back to 1822, Altria Group is headquartered in Richmond, Virginia.
