Altria Group, Inc. (NYSE:MO) Shares Sold by Essex Savings Bank

Essex Savings Bank trimmed its holdings in Altria Group, Inc. (NYSE:MOFree Report) by 10.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,038 shares of the company’s stock after selling 1,260 shares during the quarter. Essex Savings Bank’s holdings in Altria Group were worth $445,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Cobblestone Asset Management LLC boosted its holdings in Altria Group by 2.9% in the fourth quarter. Cobblestone Asset Management LLC now owns 9,791 shares of the company’s stock valued at $395,000 after purchasing an additional 276 shares in the last quarter. Chicago Capital LLC lifted its stake in Altria Group by 10.5% in the fourth quarter. Chicago Capital LLC now owns 13,792 shares of the company’s stock valued at $556,000 after buying an additional 1,306 shares during the last quarter. Center For Asset Management LLC lifted its stake in Altria Group by 47.3% in the fourth quarter. Center For Asset Management LLC now owns 19,840 shares of the company’s stock valued at $800,000 after buying an additional 6,371 shares during the last quarter. Strategic Advisors LLC acquired a new stake in shares of Altria Group during the fourth quarter valued at $358,000. Finally, ICICI Prudential Asset Management Co Ltd boosted its stake in shares of Altria Group by 304.1% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 151,533 shares of the company’s stock valued at $6,113,000 after acquiring an additional 114,033 shares during the last quarter. 57.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on MO. Stifel Nicolaus reaffirmed a “buy” rating and set a $50.00 price objective on shares of Altria Group in a research note on Monday, March 25th. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a research note on Wednesday, March 27th. Finally, UBS Group reaffirmed a “sell” rating and set a $36.10 price objective on shares of Altria Group in a research note on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $46.82.

Check Out Our Latest Analysis on Altria Group

Altria Group Stock Performance

NYSE MO traded down $0.16 during trading hours on Tuesday, hitting $43.06. 2,261,190 shares of the company’s stock were exchanged, compared to its average volume of 11,658,155. The business’s 50 day moving average is $41.59 and its 200-day moving average is $41.50. Altria Group, Inc. has a 12-month low of $39.06 and a 12-month high of $48.04. The firm has a market capitalization of $75.93 billion, a P/E ratio of 9.43, a price-to-earnings-growth ratio of 2.63 and a beta of 0.65.

Altria Group (NYSE:MOGet Free Report) last released its earnings results on Thursday, February 1st. The company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.01. Altria Group had a negative return on equity of 244.55% and a net margin of 33.21%. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.06 billion. During the same period in the prior year, the business posted $1.18 earnings per share. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Altria Group, Inc. will post 5.08 EPS for the current fiscal year.

Altria Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, March 25th will be issued a $0.98 dividend. The ex-dividend date is Friday, March 22nd. This represents a $3.92 dividend on an annualized basis and a dividend yield of 9.10%. Altria Group’s dividend payout ratio (DPR) is 85.78%.

Altria Group declared that its board has approved a share repurchase program on Thursday, February 1st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Altria Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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