Altria Group Inc (NYSE:MO) Shares Sold by Carnegie Capital Asset Management LLC

Carnegie Capital Asset Management LLC cut its stake in shares of Altria Group Inc (NYSE:MO) by 9.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,288 shares of the company’s stock after selling 862 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Altria Group were worth $316,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of Altria Group by 2.2% during the 1st quarter. BlackRock Inc. now owns 146,451,570 shares of the company’s stock worth $5,663,283,000 after purchasing an additional 3,220,828 shares during the period. FMR LLC grew its stake in Altria Group by 20.6% in the 4th quarter. FMR LLC now owns 79,405,891 shares of the company’s stock valued at $3,963,147,000 after acquiring an additional 13,543,287 shares during the last quarter. Capital World Investors grew its stake in Altria Group by 12.0% in the 4th quarter. Capital World Investors now owns 74,628,168 shares of the company’s stock valued at $3,724,692,000 after acquiring an additional 7,988,057 shares during the last quarter. Capital International Investors grew its stake in Altria Group by 2.7% in the 4th quarter. Capital International Investors now owns 26,320,265 shares of the company’s stock valued at $1,313,644,000 after acquiring an additional 691,697 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Altria Group by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 25,883,192 shares of the company’s stock valued at $1,289,379,000 after acquiring an additional 761,711 shares during the last quarter. 63.50% of the stock is currently owned by institutional investors and hedge funds.

Shares of MO stock opened at $37.73 on Friday. Altria Group Inc has a 1-year low of $30.95 and a 1-year high of $53.11. The firm’s 50-day simple moving average is $38.45 and its 200-day simple moving average is $44.43. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.71 and a quick ratio of 0.53. The firm has a market cap of $69.76 billion, a P/E ratio of 8.75, a PEG ratio of 1.76 and a beta of 0.45.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, April 30th. The company reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.11. Altria Group had a negative net margin of 3.33% and a positive return on equity of 84.55%. The firm had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.51 billion. During the same quarter last year, the firm posted $0.90 earnings per share. Altria Group’s revenue for the quarter was up 16.0% compared to the same quarter last year. Analysts expect that Altria Group Inc will post 4.26 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Monday, June 15th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $3.36 annualized dividend and a yield of 8.91%. Altria Group’s payout ratio is 79.62%.

A number of equities research analysts recently commented on the stock. Piper Sandler raised shares of Altria Group from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $52.00 to $57.00 in a research note on Thursday, January 30th. Royal Bank of Canada reissued a “buy” rating and issued a $68.00 price objective on shares of Altria Group in a research note on Monday, March 23rd. Goldman Sachs Group began coverage on shares of Altria Group in a research note on Wednesday, April 1st. They issued a “neutral” rating and a $35.00 price objective on the stock. Panmure Gordon raised shares of Altria Group from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research note on Friday, April 3rd. Finally, Jefferies Financial Group reaffirmed a “neutral” rating and set a $34.00 price target on shares of Altria Group in a research note on Thursday, April 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $50.79.

About Altria Group

Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.

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

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