Hartford Investment Management Co. Reduces Stake in Altria Group, Inc. (NYSE:MO)

Hartford Investment Management Co. decreased its stake in shares of Altria Group, Inc. (NYSE:MO) by 2.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 104,807 shares of the company’s stock after selling 2,710 shares during the period. Hartford Investment Management Co.’s holdings in Altria Group were worth $5,480,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MO. Redhawk Wealth Advisors Inc. purchased a new stake in Altria Group during the 3rd quarter worth about $661,000. Wedge Capital Management L L P NC purchased a new stake in Altria Group during the 3rd quarter worth about $200,000. CX Institutional lifted its holdings in Altria Group by 18.7% during the 3rd quarter. CX Institutional now owns 102,982 shares of the company’s stock worth $5,256,000 after purchasing an additional 16,247 shares in the last quarter. Wesbanco Bank Inc. lifted its holdings in Altria Group by 2.2% during the 3rd quarter. Wesbanco Bank Inc. now owns 37,891 shares of the company’s stock worth $1,934,000 after purchasing an additional 825 shares in the last quarter. Finally, Creative Planning raised its holdings in shares of Altria Group by 4.7% in the 3rd quarter. Creative Planning now owns 531,504 shares of the company’s stock valued at $27,128,000 after acquiring an additional 24,039 shares in the last quarter. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Trading Up 0.1 %

Shares of NYSE MO opened at $53.90 on Wednesday. The stock has a market cap of $91.34 billion, a price-to-earnings ratio of 8.23, a P/E/G ratio of 2.80 and a beta of 0.64. Altria Group, Inc. has a 1-year low of $39.25 and a 1-year high of $58.03. The stock’s 50-day moving average is $53.02 and its 200 day moving average is $52.52.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, January 30th. The company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. On average, analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Thursday, December 26th were given a dividend of $1.02 per share. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $4.08 annualized dividend and a yield of 7.57%. Altria Group’s payout ratio is 62.29%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MO shares. Bank of America raised Altria Group from a “neutral” rating to a “buy” rating and raised their price target for the company from $55.00 to $65.00 in a report on Friday, December 6th. Barclays raised their price target on Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a report on Wednesday, November 6th. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Stifel Nicolaus raised their price target on Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Morgan Stanley lowered their price target on Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $53.29.

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.