Perennial Investment Advisors LLC cut its stake in Altria Group, Inc. (NYSE:MO – Get Rating) by 6.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,012 shares of the company’s stock after selling 289 shares during the period. Perennial Investment Advisors LLC’s holdings in Altria Group were worth $210,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of MO. AE Wealth Management LLC boosted its stake in Altria Group by 14.9% during the 1st quarter. AE Wealth Management LLC now owns 195,595 shares of the company’s stock worth $10,220,000 after purchasing an additional 25,413 shares during the period. Abacus Planning Group Inc. acquired a new stake in shares of Altria Group during the first quarter worth about $227,000. Allworth Financial LP grew its holdings in shares of Altria Group by 12.9% during the first quarter. Allworth Financial LP now owns 58,262 shares of the company’s stock worth $3,044,000 after buying an additional 6,642 shares during the last quarter. Westwood Holdings Group Inc. increased its position in Altria Group by 7.9% in the 4th quarter. Westwood Holdings Group Inc. now owns 211,536 shares of the company’s stock valued at $10,025,000 after acquiring an additional 15,440 shares during the period. Finally, Capital Investment Advisors LLC raised its stake in Altria Group by 1.6% during the 1st quarter. Capital Investment Advisors LLC now owns 546,169 shares of the company’s stock valued at $28,537,000 after acquiring an additional 8,838 shares during the last quarter. Institutional investors and hedge funds own 59.05% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have commented on MO. Sanford C. Bernstein downgraded shares of Altria Group from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $58.00 to $53.00 in a research report on Tuesday, May 10th. Barclays downgraded shares of Altria Group from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $53.00 to $36.00 in a research report on Wednesday, June 29th. Cowen dropped their target price on Altria Group from $56.00 to $45.00 and set a “market perform” rating on the stock in a research report on Monday, June 27th. Morgan Stanley raised Altria Group from an “underweight” rating to an “equal weight” rating and reduced their price target for the company from $47.00 to $43.00 in a report on Friday, June 24th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Altria Group from $60.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, July 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $47.00.
Altria Group Stock Performance
Altria Group (NYSE:MO – Get Rating) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.25 by $0.01. Altria Group had a net margin of 6.88% and a negative return on equity of 488.86%. The business had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same period in the previous year, the firm earned $1.23 EPS. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, analysts predict that Altria Group, Inc. will post 4.86 EPS for the current fiscal year.
Altria Group Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, July 11th. Stockholders of record on Wednesday, June 15th were issued a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, June 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 8.16%. Altria Group’s dividend payout ratio (DPR) is 371.13%.
Altria Group Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company provides cigarettes primarily under the Marlboro brand; cigars and pipe tobacco principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands, as well as provides on! oral nicotine pouches.
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