Cedar Wealth Management LLC Has $6.15 Million Holdings in Altria Group, Inc. (NYSE:MO)

Cedar Wealth Management LLC lowered its stake in Altria Group, Inc. (NYSE:MO) by 10.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 117,624 shares of the company’s stock after selling 13,635 shares during the quarter. Altria Group makes up 2.2% of Cedar Wealth Management LLC’s investment portfolio, making the stock its 10th largest position. Cedar Wealth Management LLC’s holdings in Altria Group were worth $6,151,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. LPL Financial LLC boosted its stake in Altria Group by 11.9% in the 4th quarter. LPL Financial LLC now owns 3,128,789 shares of the company’s stock worth $163,604,000 after purchasing an additional 331,747 shares during the period. Samalin Investment Counsel LLC raised its holdings in shares of Altria Group by 2.2% in the 4th quarter. Samalin Investment Counsel LLC now owns 14,270 shares of the company’s stock valued at $746,000 after acquiring an additional 303 shares in the last quarter. Blueprint Investment Partners LLC raised its holdings in shares of Altria Group by 115.5% in the 4th quarter. Blueprint Investment Partners LLC now owns 13,115 shares of the company’s stock valued at $686,000 after acquiring an additional 7,030 shares in the last quarter. Mosley Wealth Management raised its holdings in shares of Altria Group by 7.6% in the 4th quarter. Mosley Wealth Management now owns 12,574 shares of the company’s stock valued at $662,000 after acquiring an additional 892 shares in the last quarter. Finally, Guardian Partners Inc. purchased a new stake in shares of Altria Group in the 4th quarter valued at about $489,000. Institutional investors own 57.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on MO shares. 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. Bank of America raised Altria Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $55.00 to $65.00 in a report on Friday, December 6th. Two 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $53.29.

Altria Group Price Performance

Shares of Altria Group stock opened at $57.46 on Friday. The business’s 50 day simple moving average is $54.42 and its two-hundred day simple moving average is $53.47. The stock has a market capitalization of $97.14 billion, a P/E ratio of 8.77, a price-to-earnings-growth ratio of 2.89 and a beta of 0.56. Altria Group, Inc. has a one year low of $40.65 and a one year high of $59.67.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.29 EPS for the quarter, topping 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%. Sell-side analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, March 25th will be paid a $1.02 dividend. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a yield of 7.10%. Altria Group’s dividend payout ratio (DPR) is currently 62.29%.

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.