Altria Group, Inc. (NYSE:MO) Position Trimmed by Stonegate Investment Group LLC

Stonegate Investment Group LLC reduced its holdings in Altria Group, Inc. (NYSE:MOFree Report) by 1.1% during the fourth quarter, according to the company in its most recent filing with the SEC. 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 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. State Street Corp lifted its holdings in Altria Group by 1.8% in the second quarter. State Street Corp now owns 70,564,529 shares of the company’s stock worth $3,262,710,000 after purchasing an additional 1,240,150 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Altria Group by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 44,456,064 shares of the company’s stock valued at $1,857,271,000 after purchasing an additional 840,559 shares during the period. Geode Capital Management LLC raised its stake in shares of Altria Group by 1.9% in the 1st quarter. Geode Capital Management LLC now owns 35,856,051 shares of the company’s stock worth $1,596,257,000 after buying an additional 671,929 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Altria Group by 5.1% during the third quarter. Bank of New York Mellon Corp now owns 24,517,169 shares of the company’s stock valued at $990,002,000 after buying an additional 1,192,266 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC grew its holdings in Altria Group by 108,222.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 18,590,308 shares of the company’s stock worth $849,763,000 after acquiring an additional 18,573,146 shares during the period. 57.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MO shares. UBS Group restated a “sell” rating and set a $36.10 price objective on shares of Altria Group in a research report on Tuesday, January 23rd. Stifel Nicolaus restated a “buy” rating and issued a $50.00 price target on shares of Altria Group in a research report on Monday, March 25th. Finally, StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Altria Group currently has a consensus rating of “Hold” and an average target price of $46.82.

Check Out Our Latest Research Report on Altria Group

Altria Group Stock Performance

Altria Group stock opened at $42.93 on Wednesday. Altria Group, Inc. has a 52 week low of $39.06 and a 52 week high of $48.04. The firm has a market capitalization of $75.71 billion, a price-to-earnings ratio of 9.39, a P/E/G ratio of 2.60 and a beta of 0.65. The company has a 50 day moving average price of $41.64 and a 200 day moving average price of $41.50.

Altria Group (NYSE:MOGet Free Report) last issued its 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 negative return on equity of 244.55% and a net margin of 33.21%. The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter last year, the firm posted $1.18 earnings per share. Altria Group’s revenue was down 1.2% compared to the same quarter last year. Equities analysts forecast that Altria Group, Inc. will post 5.08 earnings per share for the current fiscal year.

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

Altria Group Announces Dividend

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

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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