Keystone Financial Group Trims Stake in Altria Group, Inc. (NYSE:MO)

Keystone Financial Group cut its holdings in shares of Altria Group, Inc. (NYSE:MOFree Report) by 16.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,684 shares of the company’s stock after selling 1,130 shares during the quarter. Keystone Financial Group’s holdings in Altria Group were worth $229,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FSC Wealth Advisors LLC increased its position in shares of Altria Group by 21.3% during the fourth quarter. FSC Wealth Advisors LLC now owns 2,719 shares of the company’s stock valued at $110,000 after acquiring an additional 477 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new stake in shares of Altria Group in the 4th quarter valued at $39,000. KPP Advisory Services LLC acquired a new position in Altria Group during the 3rd quarter worth about $3,128,000. Axxcess Wealth Management LLC boosted its holdings in Altria Group by 293.6% during the 3rd quarter. Axxcess Wealth Management LLC now owns 55,546 shares of the company’s stock valued at $2,336,000 after acquiring an additional 41,432 shares during the period. Finally, Nordea Investment Management AB grew its position in Altria Group by 0.5% in the 4th quarter. Nordea Investment Management AB now owns 1,011,345 shares of the company’s stock valued at $40,727,000 after acquiring an additional 4,789 shares in the last quarter. 57.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Altria Group

In related news, VP Charles N. Whitaker sold 22,487 shares of the firm’s 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 transaction, the vice president now owns 173,485 shares in the company, valued at approximately $7,624,665.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MO has been the topic of several research reports. 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. UBS Group raised their price target on shares of Altria Group from $36.10 to $36.50 and gave the company a “sell” rating in a research report on Monday, April 8th. Finally, lowered Altria Group from a “buy” rating to a “hold” rating in a research report on Sunday, April 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $46.90.

Get Our Latest Stock Report on Altria Group

Altria Group Stock Up 0.2 %

Altria Group stock traded up $0.10 during trading on Wednesday, reaching $46.43. The stock had a trading volume of 1,960,128 shares, compared to its average volume of 11,484,670. Altria Group, Inc. has a 52-week low of $39.06 and a 52-week high of $46.60. The stock has a market cap of $79.75 billion, a PE ratio of 9.74, a P/E/G ratio of 2.80 and a beta of 0.66. The business has a 50 day moving average price of $43.45 and a 200 day moving average price of $41.83.

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

Altria Group announced that its Board of Directors has approved a share repurchase plan on Thursday, February 1st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Altria Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Friday, June 14th will be issued a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 8.44%. The ex-dividend date is Friday, June 14th. Altria Group’s payout ratio is 82.01%.

About Altria Group

(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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