Stonegate Investment Group LLC Lowers Position in Altria Group, Inc. (NYSE:MO)

Stonegate Investment Group LLC trimmed its holdings in shares of Altria Group, Inc. (NYSE:MOFree Report) by 1.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,363 shares of the company’s stock after selling 511 shares during the quarter. Stonegate Investment Group LLC’s holdings in Altria Group were worth $1,870,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of MO. Black Swift Group LLC purchased a new stake in Altria Group in the fourth quarter valued at approximately $631,000. Oak Thistle LLC raised its holdings in shares of Altria Group by 124.0% in the 4th quarter. Oak Thistle LLC now owns 63,867 shares of the company’s stock valued at $2,576,000 after buying an additional 35,357 shares during the period. First Citizens Bank & Trust Co. lifted its stake in Altria Group by 12.1% during the 4th quarter. First Citizens Bank & Trust Co. now owns 5,856 shares of the company’s stock worth $236,000 after acquiring an additional 630 shares in the last quarter. Cobblestone Asset Management LLC lifted its stake in Altria Group by 2.9% during the 4th quarter. Cobblestone Asset Management LLC now owns 9,791 shares of the company’s stock worth $395,000 after acquiring an additional 276 shares in the last quarter. Finally, Chicago Capital LLC boosted its holdings in Altria Group by 10.5% during the 4th quarter. Chicago Capital LLC now owns 13,792 shares of the company’s stock valued at $556,000 after acquiring an additional 1,306 shares during the period. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Research Report on MO

Altria Group Stock Performance

Shares of Altria Group stock opened at $42.93 on Wednesday. The business has a 50-day simple moving average of $41.64 and a 200-day simple moving average of $41.50. Altria Group, Inc. has a one year low of $39.06 and a one year high of $48.04. The company has a market cap of $75.71 billion, a PE ratio of 9.39, a P/E/G ratio of 2.60 and a beta of 0.65.

Altria Group (NYSE:MOGet Free Report) last posted its quarterly earnings results on Thursday, February 1st. The company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.17 by $0.01. Altria Group had a net margin of 33.21% and a negative return on equity of 244.55%. The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter in the previous year, the business posted $1.18 EPS. The firm’s revenue was down 1.2% on a year-over-year basis. On average, sell-side analysts predict that Altria Group, Inc. will post 5.08 earnings per share for the current fiscal year.

Altria Group declared that its board has initiated a stock buyback program on Thursday, February 1st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 1.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Altria Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, March 25th will be paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 9.13%. The ex-dividend date of this dividend is Friday, March 22nd. Altria Group’s dividend payout ratio is presently 85.78%.

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.

See Also

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

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