Allspring Global Investments Holdings LLC Reduces Stake in Altria Group, Inc. (NYSE:MO)

Allspring Global Investments Holdings LLC cut its stake in shares of Altria Group, Inc. (NYSE:MO) by 25.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,138,867 shares of the company’s stock after selling 384,800 shares during the period. Allspring Global Investments Holdings LLC owned 0.07% of Altria Group worth $49,677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Maryland Capital Advisors Inc. raised its position in Altria Group by 154.4% in the 1st quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock worth $25,000 after purchasing an additional 349 shares during the period. Westend Capital Management LLC purchased a new stake in shares of Altria Group in the first quarter worth approximately $29,000. ZRC Wealth Management LLC lifted its stake in shares of Altria Group by 67.6% during the 4th quarter. ZRC Wealth Management LLC now owns 677 shares of the company’s stock worth $28,000 after acquiring an additional 273 shares during the last quarter. Criterion Capital Advisors LLC purchased a new position in Altria Group during the 4th quarter valued at $27,000. Finally, Financial Gravity Asset Management Inc. grew its position in Altria Group by 1,800.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 703 shares of the company’s stock valued at $30,000 after acquiring an additional 666 shares during the last quarter. 57.41% of the stock is owned by institutional investors.

Insider Activity at Altria Group

In other news, VP Charles N. Whitaker sold 22,487 shares of Altria Group stock in a transaction that occurred 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 SEC, which can be accessed through this link. 0.09% of the stock is owned by corporate insiders.

Altria Group Price Performance

Shares of Altria Group stock opened at $45.93 on Thursday. The stock has a market cap of $78.89 billion, a price-to-earnings ratio of 9.61, a PEG ratio of 2.77 and a beta of 0.66. The firm’s 50-day moving average is $45.32 and its two-hundred day moving average is $42.81. Altria Group, Inc. has a 1 year low of $39.06 and a 1 year high of $47.19.

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

Altria Group Announces Dividend

The business also recently disclosed 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. This represents a $3.92 dividend on an annualized basis and a dividend yield of 8.53%. The ex-dividend date is Friday, June 14th. Altria Group’s dividend payout ratio (DPR) is currently 82.01%.

Analyst Upgrades and Downgrades

MO has been the subject of several research analyst reports. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research report on Friday, June 28th. Stifel Nicolaus reiterated a “buy” rating and set a $50.00 price objective on shares of Altria Group in a report on Monday, March 25th. UBS Group upped their target price on shares of Altria Group from $36.10 to $36.50 and gave the stock a “sell” rating in a research note on Monday, April 8th. Finally, Argus raised shares of Altria Group to a “hold” rating in a research note on Friday, May 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Altria Group has a consensus rating of “Hold” and a consensus price target of $46.90.

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.