Toronto Dominion Bank Has $48.42 Million Stock Position in Altria Group, Inc. (NYSE:MO)

Toronto Dominion Bank lessened its stake in Altria Group, Inc. (NYSE:MO) by 0.2% in the fourth quarter, Holdings Channel reports. The firm owned 925,904 shares of the company’s stock after selling 1,529 shares during the quarter. Toronto Dominion Bank’s holdings in Altria Group were worth $48,415,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MO. Stifel Nicolaus boosted their price target on Altria Group from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Barclays lifted their target price on Altria Group from $46.00 to $49.00 and gave the company an “underweight” rating in a research report on Friday, May 2nd. StockNews.com cut shares of Altria Group from a “buy” rating to a “hold” rating in a report on Thursday, May 1st. UBS Group raised their price target on shares of Altria Group from $46.00 to $47.00 and gave the company a “sell” rating in a research note on Wednesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft set a $60.00 price objective on shares of Altria Group in a research report on Tuesday, April 1st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $56.00.

Altria Group Trading Up 1.4%

NYSE:MO opened at $58.87 on Friday. The stock’s 50-day moving average is $58.02 and its 200-day moving average is $55.50. Altria Group, Inc. has a 1-year low of $43.83 and a 1-year high of $61.26. The stock has a market cap of $99.17 billion, a P/E ratio of 8.99, a price-to-earnings-growth ratio of 2.89 and a beta of 0.60.

Altria Group (NYSE:MO) last posted its earnings results on Tuesday, April 29th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.19 by $0.04. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. The business had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period last year, the company earned $1.15 EPS. The firm’s revenue was down 4.2% compared to the same quarter last year. As a group, equities analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Monday, June 16th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.08 dividend on an annualized basis and a yield of 6.93%. Altria Group’s payout ratio is 68.34%.

Altria Group Company 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.