Wellington Management Group LLP Sells 179,350 Shares of Altria Group, Inc. (NYSE:MO)

Wellington Management Group LLP reduced its stake in Altria Group, Inc. (NYSE:MO) by 47.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 201,868 shares of the company’s stock after selling 179,350 shares during the quarter. Wellington Management Group LLP’s holdings in Altria Group were worth $8,143,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tucker Asset Management LLC boosted its holdings in shares of Altria Group by 145.0% during the 4th quarter. Tucker Asset Management LLC now owns 3,234 shares of the company’s stock worth $130,000 after buying an additional 1,914 shares in the last quarter. Richardson Financial Services Inc. acquired a new stake in Altria Group in the fourth quarter worth $194,000. Fortis Group Advisors LLC increased its stake in Altria Group by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 1,410 shares of the company’s stock valued at $57,000 after purchasing an additional 705 shares in the last quarter. Pineridge Advisors LLC acquired a new position in shares of Altria Group during the fourth quarter valued at about $28,000. Finally, Scarborough Advisors LLC bought a new position in shares of Altria Group during the 4th quarter worth about $44,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Stock Performance

MO stock opened at $45.46 on Friday. The stock has a fifty day moving average of $45.04 and a 200-day moving average of $42.69. Altria Group, Inc. has a fifty-two week low of $39.06 and a fifty-two week high of $47.19. The company has a market capitalization of $78.08 billion, a price-to-earnings ratio of 9.51, a PEG ratio of 2.81 and a beta of 0.64.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.15 EPS for the quarter, meeting analysts’ consensus estimates of $1.15. The firm had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.71 billion. Altria Group had a net margin of 34.81% and a negative return on equity of 222.80%. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.18 EPS. Equities analysts predict that Altria Group, Inc. will post 5.11 EPS for the current year.

Altria Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 14th will be paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 8.62%. The ex-dividend date is Friday, June 14th. Altria Group’s dividend payout ratio is currently 82.01%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a report on Friday. Argus upgraded Altria Group to a “hold” rating in a research note on Friday, May 31st. UBS Group raised their price objective on Altria Group from $36.10 to $36.50 and gave the company a “sell” rating in a research note on Monday, April 8th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $50.00 target price on shares of Altria Group in a report on Monday, March 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $46.90.

Insider Buying and Selling at Altria Group

In other news, VP Charles N. Whitaker sold 22,487 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $43.95, for a total value of $988,303.65. Following the transaction, the vice president now owns 173,485 shares of the company’s stock, valued at approximately $7,624,665.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is currently owned by company insiders.

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.