Horizon Kinetics Asset Management LLC Sells 470 Shares of Altria Group, Inc. (NYSE:MO)

Horizon Kinetics Asset Management LLC lowered its position in shares of Altria Group, Inc. (NYSE:MO) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,197 shares of the company’s stock after selling 470 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Altria Group were worth $3,305,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Financial Life Planners bought a new position in shares of Altria Group during the fourth quarter worth approximately $25,000. True Wealth Design LLC increased its stake in Altria Group by 420.0% during the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after acquiring an additional 462 shares during the period. Legacy Investment Solutions LLC bought a new position in Altria Group during the 3rd quarter worth $34,000. Marshall Investment Management LLC bought a new position in Altria Group during the 4th quarter worth $32,000. Finally, Promus Capital LLC bought a new position in Altria Group during the 4th quarter worth $33,000. Institutional investors own 57.41% of the company’s stock.

Altria Group Stock Performance

Shares of MO opened at $58.97 on Monday. Altria Group, Inc. has a 52-week low of $40.65 and a 52-week high of $59.67. The business’s fifty day moving average is $53.75 and its 200-day moving average is $53.31. The firm has a market cap of $99.70 billion, a price-to-earnings ratio of 9.00, a PEG ratio of 2.89 and a beta of 0.56.

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

Altria Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 6.92%. The ex-dividend date is Tuesday, March 25th. Altria Group’s dividend payout ratio (DPR) is 62.29%.

Analysts Set New Price Targets

A number of equities analysts have commented on MO shares. Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $55.00 to $65.00 in a research note on Friday, December 6th. Morgan Stanley lowered their price objective on Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to MarketBeat, Altria Group currently has a consensus rating of “Hold” and an average price target of $53.29.

Altria Group 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.