Hollencrest Capital Management Has $4.20 Million Position in Altria Group, Inc. (NYSE:MO)

Hollencrest Capital Management boosted its stake in shares of Altria Group, Inc. (NYSE:MO) by 3.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 80,313 shares of the company’s stock after purchasing an additional 2,878 shares during the quarter. Hollencrest Capital Management’s holdings in Altria Group were worth $4,200,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Financial Life Planners acquired a new position in Altria Group during the fourth quarter worth $25,000. True Wealth Design LLC raised its stake in Altria Group by 420.0% during the third quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after acquiring an additional 462 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of Altria Group in the third quarter valued at $34,000. Marshall Investment Management LLC acquired a new stake in shares of Altria Group in the fourth quarter valued at $32,000. Finally, Promus Capital LLC acquired a new stake in shares of Altria Group in the fourth quarter valued at $33,000. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Altria Group Trading Down 1.4 %

Shares of MO opened at $58.17 on Wednesday. Altria Group, Inc. has a 1 year low of $40.65 and a 1 year high of $59.67. The stock has a market cap of $98.35 billion, a P/E ratio of 8.88, a price-to-earnings-growth ratio of 2.89 and a beta of 0.56. The stock’s 50-day moving average price is $53.40 and its two-hundred day moving average price is $53.20.

Altria Group (NYSE:MO) last issued its earnings results on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. As a group, equities analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 7.01%. The ex-dividend date of this dividend is Tuesday, March 25th. Altria Group’s dividend payout ratio (DPR) is presently 62.29%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and raised their target price for the company from $55.00 to $65.00 in a research note on Friday, December 6th. Morgan Stanley lowered their target price 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. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Altria Group currently has an average rating of “Hold” and a consensus target price of $53.29.

About Altria Group

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.