Altria Group, Inc. (NYSE:MO) Shares Sold by Synergy Asset Management LLC

Synergy Asset Management LLC trimmed its stake in Altria Group, Inc. (NYSE:MO) by 33.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 76,670 shares of the company’s stock after selling 37,885 shares during the quarter. Synergy Asset Management LLC’s holdings in Altria Group were worth $3,344,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Capital Research Global Investors raised its holdings in Altria Group by 1.9% during the 4th quarter. Capital Research Global Investors now owns 13,279,658 shares of the company’s stock worth $535,701,000 after buying an additional 242,442 shares during the period. Pacer Advisors Inc. boosted its stake in Altria Group by 17.0% in the 4th quarter. Pacer Advisors Inc. now owns 9,259,451 shares of the company’s stock worth $373,526,000 after purchasing an additional 1,343,094 shares during the period. Ameriprise Financial Inc. grew its position in Altria Group by 8.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 9,174,355 shares of the company’s stock worth $381,278,000 after purchasing an additional 722,258 shares in the last quarter. LSV Asset Management raised its stake in Altria Group by 15.2% during the 4th quarter. LSV Asset Management now owns 4,681,943 shares of the company’s stock valued at $188,870,000 after purchasing an additional 617,900 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of Altria Group by 24.4% in the fourth quarter. Victory Capital Management Inc. now owns 4,674,441 shares of the company’s stock valued at $188,567,000 after purchasing an additional 915,478 shares in the last quarter. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on MO shares. UBS Group lifted their target price on Altria Group from $36.10 to $36.50 and gave the company a “sell” rating in a research note on Monday, April 8th. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a report on Friday. Stifel Nicolaus reissued a “buy” rating and set a $50.00 price objective on shares of Altria Group in a research report on Monday, March 25th. Finally, Argus upgraded shares of Altria Group to a “hold” rating in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $46.90.

Altria Group Stock Down 0.1 %

Altria Group stock traded down $0.06 during mid-day trading on Tuesday, reaching $45.97. The company had a trading volume of 2,741,397 shares, compared to its average volume of 11,155,408. The firm has a market cap of $78.96 billion, a price-to-earnings ratio of 9.61, a PEG ratio of 2.77 and a beta of 0.66. The company has a 50 day moving average of $45.19 and a 200-day moving average of $42.75. Altria Group, Inc. has a 52 week low of $39.06 and a 52 week high of $47.19.

Altria Group (NYSE:MO) last released its earnings results on Thursday, April 25th. The company reported $1.15 earnings per share for the quarter, meeting the consensus estimate of $1.15. The business had revenue of $4.72 billion during 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%. The firm’s revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the company earned $1.18 earnings per share. On average, analysts predict that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Friday, June 14th will be paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 8.53%. The ex-dividend date of this dividend is Friday, June 14th. Altria Group’s dividend payout ratio is 82.01%.

Insider Activity at Altria Group

In related news, VP Charles N. Whitaker sold 22,487 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $43.95, for a total transaction of $988,303.65. Following the completion of the sale, the vice president now directly owns 173,485 shares of the company’s stock, valued at approximately $7,624,665.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is currently owned by insiders.

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.