Altria Group, Inc. (NYSE:MO) Stake Lowered by Successful Portfolios LLC

Successful Portfolios LLC lowered its stake in shares of Altria Group, Inc. (NYSE:MO) by 11.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,522 shares of the company’s stock after selling 1,221 shares during the quarter. Successful Portfolios LLC’s holdings in Altria Group were worth $415,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. FSC Wealth Advisors LLC lifted its holdings in shares of Altria Group by 21.3% in the fourth quarter. FSC Wealth Advisors LLC now owns 2,719 shares of the company’s stock valued at $110,000 after buying an additional 477 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in shares of Altria Group during the fourth quarter worth $39,000. KPP Advisory Services LLC acquired a new stake in shares of Altria Group during the third quarter worth $3,128,000. Axxcess Wealth Management LLC raised its position in shares of Altria Group by 293.6% during the third quarter. Axxcess Wealth Management LLC now owns 55,546 shares of the company’s stock worth $2,336,000 after purchasing an additional 41,432 shares during the period. Finally, Nordea Investment Management AB raised its position in shares of Altria Group by 0.5% during the fourth quarter. Nordea Investment Management AB now owns 1,011,345 shares of the company’s stock worth $40,727,000 after purchasing an additional 4,789 shares during the period. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Price Performance

Shares of MO stock opened at $45.55 on Monday. Altria Group, Inc. has a fifty-two week low of $39.06 and a fifty-two week high of $47.19. The stock’s 50-day moving average is $45.19 and its two-hundred day moving average is $42.75. The firm has a market cap of $78.24 billion, a P/E ratio of 9.53, a PEG ratio of 2.77 and a beta of 0.66.

Altria Group (NYSE:MO) last issued its earnings results on Thursday, April 25th. The company reported $1.15 earnings per share for the quarter, hitting the consensus estimate of $1.15. Altria Group had a negative return on equity of 222.80% and a net margin of 34.81%. The company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.71 billion. During the same period in the prior year, the firm posted $1.18 EPS. The business’s revenue was down 1.0% compared to the same quarter last year. As a group, research analysts expect that Altria Group, Inc. will post 5.11 EPS for the current year.

Altria Group Announces Dividend

The firm 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 dividend of $0.98 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.92 annualized dividend and a yield of 8.61%. Altria Group’s payout ratio is 82.01%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Stifel Nicolaus reissued a “buy” rating and set a $50.00 price target on shares of Altria Group in a research report on Monday, March 25th. Argus raised Altria Group to a “hold” rating in a research report on Friday, May 31st. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a research report on Friday. Finally, UBS Group upped their price target on Altria Group from $36.10 to $36.50 and gave the company a “sell” rating in a research report on Monday, April 8th. One equities 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $46.90.

Insider Activity at Altria Group

In related news, VP Charles N. Whitaker sold 22,487 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $43.95, for a total transaction of $988,303.65. Following the completion of the sale, the vice president now owns 173,485 shares in the company, valued at approximately $7,624,665.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.09% of the stock is owned by corporate insiders.

Altria Group 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.