Hardin Capital Partners LLC Decreases Stock Position in Altria Group, Inc. (NYSE:MO)

Hardin Capital Partners LLC trimmed its position in shares of Altria Group, Inc. (NYSE:MO) by 4.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,008 shares of the company’s stock after selling 449 shares during the quarter. Hardin Capital Partners LLC’s holdings in Altria Group were worth $471,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in MO. Financial Life Planners purchased a new position in Altria Group in the 4th quarter worth approximately $25,000. True Wealth Design LLC increased its holdings in shares of Altria Group by 420.0% in the third quarter. True Wealth Design LLC now owns 572 shares of the company’s stock valued at $29,000 after purchasing an additional 462 shares during the last quarter. VSM Wealth Advisory LLC purchased a new position in Altria Group during the fourth quarter worth approximately $29,000. Marshall Investment Management LLC acquired a new position in Altria Group during the fourth quarter worth $32,000. Finally, Promus Capital LLC purchased a new stake in Altria Group in the 4th quarter valued at $33,000. 57.41% of the stock is owned by institutional investors and hedge funds.

Altria Group Price Performance

Shares of MO opened at $56.73 on Wednesday. The firm has a 50-day simple moving average of $54.66 and a two-hundred day simple moving average of $53.51. The stock has a market cap of $95.91 billion, a PE ratio of 8.66, a P/E/G ratio of 2.89 and a beta of 0.56. Altria Group, Inc. has a 1-year low of $40.65 and a 1-year high of $59.67.

Altria Group (NYSE:MO) last posted its quarterly earnings data 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, sell-side analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th will be issued 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 7.19%. Altria Group’s dividend payout ratio (DPR) is presently 62.29%.

Wall Street Analysts Forecast Growth

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