Wealthsource Partners LLC trimmed its position in shares of Altria Group, Inc. (NYSE:MO – Get Rating) by 10.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,318 shares of the company's stock after selling 2,633 shares during the quarter. Wealthsource Partners LLC's holdings in Altria Group were worth $1,166,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. AE Wealth Management LLC raised its holdings in shares of Altria Group by 14.9% in the first quarter. AE Wealth Management LLC now owns 195,595 shares of the company's stock worth $10,220,000 after acquiring an additional 25,413 shares during the last quarter. Abacus Planning Group Inc. acquired a new position in shares of Altria Group in the first quarter worth $227,000. Allworth Financial LP raised its holdings in shares of Altria Group by 12.9% in the first quarter. Allworth Financial LP now owns 58,262 shares of the company's stock worth $3,044,000 after acquiring an additional 6,642 shares during the last quarter. Westwood Holdings Group Inc. increased its stake in Altria Group by 7.9% in the fourth quarter. Westwood Holdings Group Inc. now owns 211,536 shares of the company's stock valued at $10,025,000 after purchasing an additional 15,440 shares during the last quarter. Finally, Capital Investment Advisors LLC increased its stake in Altria Group by 1.6% in the first quarter. Capital Investment Advisors LLC now owns 546,169 shares of the company's stock valued at $28,537,000 after purchasing an additional 8,838 shares during the last quarter. 59.05% of the stock is currently owned by hedge funds and other institutional investors.
Get Altria Group alerts:Altria Group Stock Down 0.3 %
MO opened at $44.10 on Friday. The firm has a market cap of $79.42 billion, a PE ratio of 45.46, a P/E/G ratio of 2.28 and a beta of 0.62. The business has a fifty day simple moving average of $45.15 and a 200-day simple moving average of $49.97. Altria Group, Inc. has a fifty-two week low of $41.00 and a fifty-two week high of $57.05.
Altria Group (NYSE:MO – Get Rating) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.01. The business had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.42 billion. Altria Group had a negative return on equity of 488.86% and a net margin of 6.88%. The company's revenue was down 4.3% compared to the same quarter last year. During the same period last year, the company posted $1.23 EPS. On average, equities research analysts anticipate that Altria Group, Inc. will post 4.86 EPS for the current fiscal year.Altria Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 11th. Investors of record on Wednesday, June 15th were issued a dividend of $0.90 per share. The ex-dividend date was Tuesday, June 14th. This represents a $3.60 annualized dividend and a dividend yield of 8.16%. Altria Group's dividend payout ratio is 371.13%.
Analyst Ratings Changes
MO has been the subject of several research analyst reports. Cowen dropped their price target on Altria Group from $56.00 to $45.00 and set a "market perform" rating for the company in a research note on Monday, June 27th. Bank of America reduced their price target on Altria Group from $50.00 to $45.00 and set a "neutral" rating for the company in a report on Friday, July 8th. Deutsche Bank Aktiengesellschaft cut their price objective on Altria Group from $60.00 to $46.00 and set a "buy" rating on the stock in a research note on Friday, July 1st. Sanford C. Bernstein cut Altria Group from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $58.00 to $53.00 in a research note on Tuesday, May 10th. Finally, Morgan Stanley upgraded Altria Group from an "underweight" rating to an "equal weight" rating and dropped their price target for the stock from $47.00 to $43.00 in a research report on Friday, June 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Altria Group has a consensus rating of "Hold" and an average target price of $47.00.
Altria Group Company Profile
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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.
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