Ellenbecker Investment Group Trims Stock Position in Altria Group, Inc. (NYSE:MO)

Ellenbecker Investment Group decreased its position in Altria Group, Inc. (NYSE:MO) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,436 shares of the company’s stock after selling 499 shares during the period. Ellenbecker Investment Group’s holdings in Altria Group were worth $1,853,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Aviance Capital Partners LLC raised its holdings in shares of Altria Group by 0.5% in the 3rd quarter. Aviance Capital Partners LLC now owns 40,362 shares of the company’s stock valued at $2,060,000 after buying an additional 191 shares during the period. Delta Investment Management LLC grew its holdings in Altria Group by 2.9% during the 2nd quarter. Delta Investment Management LLC now owns 7,064 shares of the company’s stock worth $322,000 after acquiring an additional 198 shares in the last quarter. Fragasso Financial Advisors Inc increased its holdings in Altria Group by 3.3% in the fourth quarter. Fragasso Financial Advisors Inc now owns 6,302 shares of the company’s stock valued at $330,000 after buying an additional 199 shares during the last quarter. American Institute for Advanced Investment Management LLP raised its position in shares of Altria Group by 3.5% during the 3rd quarter. American Institute for Advanced Investment Management LLP now owns 5,860 shares of the company’s stock worth $299,000 after acquiring an additional 200 shares in the last quarter. Finally, Ridgecrest Wealth Partners LLC boosted its holdings in shares of Altria Group by 3.5% in the 3rd quarter. Ridgecrest Wealth Partners LLC now owns 5,851 shares of the company’s stock valued at $299,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MO shares. Stifel Nicolaus raised their target price on shares of Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Citigroup raised their price target on Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Barclays upped their price objective on Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research note on Wednesday, November 6th. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Altria Group has an average rating of “Hold” and an average target price of $53.33.

Altria Group Price Performance

Shares of MO stock opened at $50.84 on Tuesday. The business’s fifty day moving average price is $54.50 and its 200 day moving average price is $51.88. The firm has a market capitalization of $86.16 billion, a PE ratio of 8.59, a P/E/G ratio of 3.03 and a beta of 0.64. Altria Group, Inc. has a 1-year low of $39.25 and a 1-year high of $58.03.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.03. The business had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $5.33 billion. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. The business’s revenue was up 18.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.28 EPS. Equities research analysts expect that Altria Group, Inc. will post 5.12 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Thursday, December 26th were issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 8.03%. The ex-dividend date of this dividend was Thursday, December 26th. Altria Group’s dividend payout ratio is currently 68.92%.

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.