Peapack Gladstone Financial Corp Has $3.11 Million Stake in Altria Group, Inc. (NYSE:MO)

Peapack Gladstone Financial Corp cut its stake in Altria Group, Inc. (NYSE:MO) by 6.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,414 shares of the company’s stock after selling 4,292 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Altria Group were worth $3,107,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Financial Life Planners purchased a new stake in Altria Group in the 4th quarter valued at $25,000. VSM Wealth Advisory LLC bought a new stake in shares of Altria Group in the 4th quarter worth $29,000. Marshall Investment Management LLC purchased a new stake in shares of Altria Group in the fourth quarter valued at about $32,000. Promus Capital LLC bought a new position in shares of Altria Group during the fourth quarter valued at about $33,000. Finally, Legacy Investment Solutions LLC purchased a new position in Altria Group during the third quarter worth about $34,000. Institutional investors own 57.41% of the company’s stock.

Altria Group Stock Performance

Shares of MO opened at $55.72 on Tuesday. The firm has a market cap of $94.21 billion, a P/E ratio of 8.51, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54. Altria Group, Inc. has a fifty-two week low of $40.65 and a fifty-two week high of $60.18. The business has a 50-day moving average of $55.77 and a 200 day moving average of $53.86.

Altria Group (NYSE:MO) last announced its quarterly 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%. As a group, research analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th will be paid a dividend of $1.02 per share. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.32%. Altria Group’s payout ratio is 62.29%.

Analysts Set New Price Targets

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

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.