Consolidated Planning Corp Has $253,000 Holdings in Altria Group, Inc. (NYSE:MO)

Consolidated Planning Corp cut its holdings in shares of Altria Group, Inc. (NYSE:MO) by 56.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,273 shares of the company’s stock after selling 8,293 shares during the period. Consolidated Planning Corp’s holdings in Altria Group were worth $253,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Clear Creek Financial Management LLC grew its position in Altria Group by 4.3% in the 3rd quarter. Clear Creek Financial Management LLC now owns 5,825 shares of the company’s stock valued at $246,000 after purchasing an additional 240 shares during the period. Taylor & Morgan Wealth Management LLC boosted its holdings in Altria Group by 2.1% during the 4th quarter. Taylor & Morgan Wealth Management LLC now owns 11,981 shares of the company’s stock worth $483,000 after acquiring an additional 246 shares during the last quarter. Whitener Capital Management Inc. boosted its holdings in Altria Group by 2.6% during the 3rd quarter. Whitener Capital Management Inc. now owns 9,797 shares of the company’s stock worth $412,000 after acquiring an additional 250 shares during the last quarter. Salvus Wealth Management LLC boosted its holdings in Altria Group by 1.8% during the 4th quarter. Salvus Wealth Management LLC now owns 14,326 shares of the company’s stock worth $578,000 after acquiring an additional 250 shares during the last quarter. Finally, Mcintyre Freedman & Flynn Investment Advisers Inc. boosted its holdings in shares of Altria Group by 0.4% in the 3rd quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 58,143 shares of the company’s stock worth $2,445,000 after buying an additional 253 shares during the last quarter. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MO shares. Stifel Nicolaus reissued a “buy” rating and issued a $50.00 price target on shares of Altria Group in a report on Monday, March 25th. UBS Group boosted their price target on shares of Altria Group from $36.10 to $36.50 and gave the stock a “sell” rating in a report on Monday, April 8th. Finally, StockNews.com downgraded shares of Altria Group from a “buy” rating to a “hold” rating in a report on Sunday, April 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $46.90.

Altria Group Price Performance

Shares of MO traded down $0.16 during midday trading on Friday, hitting $43.38. 13,794,252 shares of the company traded hands, compared to its average volume of 11,969,122. The stock has a 50-day moving average of $42.18 and a 200-day moving average of $41.46. Altria Group, Inc. has a one year low of $39.06 and a one year high of $48.04. The firm has a market cap of $74.51 billion, a P/E ratio of 9.08, a PEG ratio of 2.60 and a beta of 0.65.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.15 earnings per share for the quarter, hitting the consensus estimate of $1.15. The company had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.71 billion. Altria Group had a net margin of 34.81% and a negative return on equity of 222.80%. Altria Group’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.18 earnings per share. Sell-side analysts forecast that Altria Group, Inc. will post 5.11 EPS for the current fiscal year.

Altria Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, March 25th will be paid a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 9.04%. The ex-dividend date of this dividend is Friday, March 22nd. Altria Group’s dividend payout ratio is currently 82.01%.

Altria Group announced that its board has authorized a share repurchase plan on Thursday, February 1st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 1.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

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.