Hedge funds boost stakes in Altria despite minor sell-off, after strong earnings and dividend hike.
Several hedge funds have recently increased their stakes in Altria Group, despite a minor reduction by Mount Yale Investment Advisors LLC. Analysts maintain a "Hold" rating with a target price of $53.43. Altria reported a stronger-than-expected Q4 earnings of $1.38 EPS and increased its quarterly dividend to $1.02, yielding 7.65%. The company, with a market cap of $90.43 billion, manufactures tobacco products under brands like Marlboro and NJOY ACE.
2 months ago
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