Sovereign Financial Group Inc. decreased its holdings in Altria Group, Inc. (NYSE:MO – Free Report) by 25.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,082 shares of the company’s stock after selling 2,102 shares during the quarter. Sovereign Financial Group Inc.’s holdings in Altria Group were worth $318,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of MO. Aviance Capital Partners LLC lifted its holdings in shares of Altria Group by 0.5% during the 3rd quarter. Aviance Capital Partners LLC now owns 40,362 shares of the company’s stock valued at $2,060,000 after buying an additional 191 shares during the period. Delta Investment Management LLC lifted its holdings in Altria Group by 2.9% in the second quarter. Delta Investment Management LLC now owns 7,064 shares of the company’s stock valued at $322,000 after acquiring an additional 198 shares during the period. Fragasso Financial Advisors Inc boosted its position in Altria Group by 3.3% in the fourth quarter. Fragasso Financial Advisors Inc now owns 6,302 shares of the company’s stock worth $330,000 after purchasing an additional 199 shares during the last quarter. American Institute for Advanced Investment Management LLP grew its stake in shares of Altria Group by 3.5% during the 3rd quarter. American Institute for Advanced Investment Management LLP now owns 5,860 shares of the company’s stock valued at $299,000 after purchasing an additional 200 shares during the period. Finally, Ridgecrest Wealth Partners LLC increased its position in shares of Altria Group by 3.5% during the 3rd quarter. Ridgecrest Wealth Partners LLC now owns 5,851 shares of the company’s stock valued at $299,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 57.41% of the company’s stock.
Wall Street Analysts Forecast Growth
MO has been the topic of a number of research reports. Stifel Nicolaus raised their price objective on shares of Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Bank of America upgraded shares of Altria Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $55.00 to $65.00 in a research note on Friday, December 6th. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Citigroup lifted their target price on Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Altria Group has a consensus rating of “Hold” and a consensus target price of $53.33.
Altria Group Stock Performance
Shares of MO stock opened at $51.04 on Thursday. The stock has a fifty day simple moving average of $54.44 and a two-hundred day simple moving average of $51.92. The firm has a market capitalization of $86.50 billion, a PE ratio of 8.62, a PEG ratio of 3.03 and a beta of 0.64. Altria Group, Inc. has a 52-week low of $39.25 and a 52-week high of $58.03.
Altria Group (NYSE:MO – Get Free Report) last released its earnings results on Thursday, October 31st. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.03. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. The firm had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $5.33 billion. During the same quarter last year, the business posted $1.28 earnings per share. The firm’s revenue was up 18.6% on a year-over-year basis. On average, sell-side analysts forecast that Altria Group, Inc. will post 5.12 EPS for the current fiscal year.
Altria Group Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, December 26th were issued a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 7.99%. The ex-dividend date was Thursday, December 26th. Altria Group’s dividend payout ratio (DPR) is presently 68.92%.
Altria Group Company 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.
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