Stonegate Investment Group LLC Reduces Stock Position in Altria Group, Inc. (NYSE:MO)

Stonegate Investment Group LLC reduced its holdings in shares of Altria Group, Inc. (NYSE:MOFree Report) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 46,363 shares of the company’s stock after selling 511 shares during the quarter. Stonegate Investment Group LLC’s holdings in Altria Group were worth $1,870,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in MO. Loomis Sayles & Co. L P purchased a new stake in shares of Altria Group in the 1st quarter valued at about $25,000. Altshuler Shaham Ltd purchased a new stake in Altria Group in the third quarter valued at approximately $26,000. Nemes Rush Group LLC boosted its holdings in shares of Altria Group by 103.2% in the third quarter. Nemes Rush Group LLC now owns 636 shares of the company’s stock valued at $27,000 after acquiring an additional 323 shares during the period. ZRC Wealth Management LLC grew its position in shares of Altria Group by 67.6% during the fourth quarter. ZRC Wealth Management LLC now owns 677 shares of the company’s stock worth $28,000 after acquiring an additional 273 shares during the last quarter. Finally, Legacy Financial Group LLC acquired a new position in shares of Altria Group in the 3rd quarter valued at $30,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Stock Down 0.7 %

Shares of NYSE:MO opened at $42.93 on Wednesday. Altria Group, Inc. has a 52 week low of $39.06 and a 52 week high of $48.04. The company has a 50-day moving average price of $41.64 and a 200 day moving average price of $41.50. The company has a market cap of $75.71 billion, a P/E ratio of 9.39, a PEG ratio of 2.60 and a beta of 0.65.

Altria Group (NYSE:MOGet Free Report) last posted its quarterly earnings results on Thursday, February 1st. The company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.01. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.06 billion. Altria Group had a negative return on equity of 244.55% and a net margin of 33.21%. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.18 earnings per share. Analysts expect that Altria Group, Inc. will post 5.08 EPS for the current year.

Altria Group declared that its Board of Directors has authorized a stock repurchase program on Thursday, February 1st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 1.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Altria Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, March 25th will be issued a $0.98 dividend. The ex-dividend date is Friday, March 22nd. This represents a $3.92 dividend on an annualized basis and a dividend yield of 9.13%. Altria Group’s dividend payout ratio is presently 85.78%.

Wall Street Analyst Weigh In

A number of research firms have commented on MO. UBS Group restated a “sell” rating and issued a $36.10 price objective on shares of Altria Group in a research note on Tuesday, January 23rd. Stifel Nicolaus restated a “buy” rating and issued a $50.00 price target on shares of Altria Group in a research report on Monday, March 25th. Finally, raised Altria Group from a “hold” rating to a “buy” rating in a research report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $46.82.

View Our Latest Stock Analysis on Altria Group

About Altria Group

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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