Greenleaf Trust Decreases Stock Holdings in Altria Group, Inc. (NYSE:MO)

Greenleaf Trust reduced its position in shares of Altria Group, Inc. (NYSE:MOFree Report) by 15.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,196 shares of the company’s stock after selling 6,141 shares during the period. Greenleaf Trust’s holdings in Altria Group were worth $1,339,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Loomis Sayles & Co. L P purchased a new stake in shares of Altria Group during the 1st quarter worth $25,000. Altshuler Shaham Ltd purchased a new stake in Altria Group in the third quarter valued at $26,000. Nemes Rush Group LLC lifted its position in 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 last quarter. ZRC Wealth Management LLC lifted its position in Altria Group by 67.6% in the fourth quarter. ZRC Wealth Management LLC now owns 677 shares of the company’s stock valued at $28,000 after acquiring an additional 273 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. lifted its position in Altria Group by 1,800.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 703 shares of the company’s stock valued at $30,000 after acquiring an additional 666 shares during the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Stock Performance

Shares of NYSE:MO opened at $42.09 on Friday. The company has a 50-day simple moving average of $41.91 and a 200-day simple moving average of $41.43. Altria Group, Inc. has a one year low of $39.06 and a one year high of $48.04. The stock has a market capitalization of $72.30 billion, a price-to-earnings ratio of 9.21, a PEG ratio of 2.53 and a beta of 0.65.

Altria Group (NYSE:MOGet Free Report) last announced its earnings results on Thursday, February 1st. The company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.01. Altria Group had a net margin of 33.21% and a negative return on equity of 244.55%. The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.06 billion. During the same period in the prior year, the company earned $1.18 earnings per share. The business’s revenue was down 1.2% compared to the same quarter last year. As a group, research analysts forecast that Altria Group, Inc. will post 5.09 EPS for the current fiscal year.

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

Altria Group Dividend Announcement

The firm also recently announced 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 9.31%. Altria Group’s payout ratio is 85.78%.

Analyst Ratings Changes

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

View Our Latest Report on MO

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

Want to see what other hedge funds are holding MO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altria Group, Inc. (NYSE:MOFree Report).

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

Receive News & Ratings for Altria Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altria Group and related companies with MarketBeat.com's FREE daily email newsletter.