Simplicity Wealth LLC Trims Stake in Altria Group, Inc. (NYSE:MO)

Simplicity Wealth LLC reduced its position in Altria Group, Inc. (NYSE:MO) by 4.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,100 shares of the company’s stock after selling 1,049 shares during the quarter. Simplicity Wealth LLC’s holdings in Altria Group were worth $1,208,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. State Street Corp grew its position in shares of Altria Group by 5.6% during the 3rd quarter. State Street Corp now owns 73,481,686 shares of the company’s stock worth $3,821,831,000 after buying an additional 3,910,738 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Altria Group during the 4th quarter worth $137,536,000. Charles Schwab Investment Management Inc. grew its position in shares of Altria Group by 4.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 59,805,286 shares of the company’s stock worth $3,127,218,000 after buying an additional 2,296,972 shares in the last quarter. Los Angeles Capital Management LLC grew its position in shares of Altria Group by 729.8% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,969,262 shares of the company’s stock worth $100,511,000 after buying an additional 1,731,932 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Altria Group by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 40,803,759 shares of the company’s stock worth $2,079,919,000 after buying an additional 1,003,605 shares in the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Price Performance

Shares of MO stock opened at $57.79 on Monday. Altria Group, Inc. has a 1-year low of $40.65 and a 1-year high of $58.59. The stock’s 50-day moving average is $53.15 and its 200 day moving average is $53.11. The company has a market cap of $97.70 billion, a P/E ratio of 8.82, a PEG ratio of 2.89 and a beta of 0.56.

Altria Group (NYSE:MO) last issued 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 anticipate that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, March 25th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 7.06%. The ex-dividend date is Tuesday, March 25th. Altria Group’s dividend payout ratio is presently 62.29%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Morgan Stanley dropped their price target on 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 raised Altria Group from a “neutral” rating to a “buy” rating and increased their price target for the stock from $55.00 to $65.00 in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Altria Group currently has an average rating of “Hold” and a consensus target price of $53.29.

Altria Group Company 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.