Fort Point Capital Partners LLC Has $392,000 Position in Altria Group, Inc. (NYSE:MO)

Fort Point Capital Partners LLC boosted its holdings in shares of Altria Group, Inc. (NYSE:MOGet Rating) by 33.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,276 shares of the company’s stock after acquiring an additional 2,070 shares during the quarter. Fort Point Capital Partners LLC’s holdings in Altria Group were worth $392,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its position in Altria Group by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,123,753 shares of the company’s stock worth $1,617,126,000 after acquiring an additional 1,103,432 shares during the period. Geode Capital Management LLC boosted its stake in Altria Group by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 30,391,914 shares of the company’s stock worth $1,437,087,000 after buying an additional 644,221 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Altria Group by 1.6% during the third quarter. Bank of New York Mellon Corp now owns 21,542,174 shares of the company’s stock worth $980,603,000 after buying an additional 346,246 shares in the last quarter. Morgan Stanley boosted its stake in shares of Altria Group by 0.3% in the 3rd quarter. Morgan Stanley now owns 9,464,201 shares of the company’s stock valued at $430,810,000 after purchasing an additional 29,221 shares in the last quarter. Finally, London Co. of Virginia boosted its stake in shares of Altria Group by 0.5% in the 3rd quarter. London Co. of Virginia now owns 6,479,205 shares of the company’s stock valued at $294,933,000 after purchasing an additional 33,018 shares in the last quarter. 59.05% of the stock is currently owned by hedge funds and other institutional investors.

Shares of MO traded up $1.01 on Wednesday, hitting $53.94. The company’s stock had a trading volume of 315,535 shares, compared to its average volume of 9,738,762. The firm’s fifty day moving average price is $53.74 and its 200-day moving average price is $50.22. Altria Group, Inc. has a fifty-two week low of $42.53 and a fifty-two week high of $57.05. The firm has a market capitalization of $97.66 billion, a price-to-earnings ratio of 32.27, a P/E/G ratio of 2.64 and a beta of 0.50.

Altria Group (NYSE:MOGet Rating) last issued its quarterly earnings data on Thursday, April 28th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.03. Altria Group had a negative return on equity of 2,506.92% and a net margin of 11.64%. The business had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.88 billion. During the same period in the previous year, the firm earned $1.07 EPS. Altria Group’s quarterly revenue was down 1.2% compared to the same quarter last year. Sell-side analysts expect that Altria Group, Inc. will post 4.84 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 11th. Shareholders of record on Wednesday, June 15th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 6.67%. The ex-dividend date is Tuesday, June 14th. Altria Group’s dividend payout ratio (DPR) is currently 219.51%.

MO has been the subject of a number of research analyst reports. Morgan Stanley lifted their price target on Altria Group from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Wednesday, January 26th. Sanford C. Bernstein cut Altria Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $58.00 to $53.00 in a report on Tuesday, May 10th. Cowen boosted their price objective on Altria Group from $51.00 to $53.00 in a report on Thursday, April 7th. The Goldman Sachs Group raised Altria Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $48.00 to $57.00 in a report on Tuesday, March 22nd. Finally, StockNews.com assumed coverage on Altria Group in a report on Thursday, March 31st. They set a “buy” rating for the company. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $53.75.

Altria Group Company Profile (Get Rating)

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company provides cigarettes primarily under the Marlboro brand; cigars and pipe tobacco principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands, as well as provides on! oral nicotine pouches.

Further Reading

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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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