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

Griffin Asset Management Inc. trimmed its stake in Altria Group, Inc. (NYSE:MOGet Rating) by 3.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,624 shares of the company’s stock after selling 961 shares during the quarter. Griffin Asset Management Inc.’s holdings in Altria Group were worth $1,234,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MO. Bromfield Sneider Wealth Advisors acquired a new position in shares of Altria Group in the first quarter worth $27,000. Rinkey Investments acquired a new position in Altria Group in the fourth quarter valued at $30,000. Masso Torrence Wealth Management Inc. acquired a new position in Altria Group in the fourth quarter valued at $31,000. TAP Consulting LLC acquired a new position in Altria Group in the fourth quarter valued at $32,000. Finally, Okabena Investment Services Inc. acquired a new position in Altria Group in the fourth quarter valued at $32,000. 59.05% of the stock is owned by institutional investors.

Several equities analysts recently commented on MO shares. Sanford C. Bernstein lowered Altria Group from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $58.00 to $53.00 in a research note on Tuesday, May 10th. Cowen upped their target price on Altria Group from $51.00 to $53.00 in a research note on Thursday, April 7th. The Goldman Sachs Group upgraded Altria Group from a “neutral” rating to a “buy” rating and upped their target price for the company from $48.00 to $57.00 in a research note on Tuesday, March 22nd. Cowen upped their price target on Altria Group from $51.00 to $53.00 in a research note on Thursday, April 7th. Finally, Royal Bank of Canada lowered Altria Group from an “outperform” rating to a “sector perform” rating and set a $53.00 price target for the company. in a research note on Monday, March 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $53.25.

Shares of NYSE MO opened at $41.50 on Thursday. Altria Group, Inc. has a 1-year low of $41.00 and a 1-year high of $57.05. The business has a 50-day moving average of $52.51 and a 200-day moving average of $51.04. The company has a market capitalization of $75.14 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 2.36 and a beta of 0.50.

Altria Group (NYSE:MOGet Rating) last issued its earnings results on Thursday, April 28th. The company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.03. The company had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.88 billion. Altria Group had a negative return on equity of 2,506.92% and a net margin of 11.64%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.07 earnings per share. Sell-side analysts expect that Altria Group, Inc. will post 4.84 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 11th. Investors of record on Wednesday, June 15th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 8.67%. The ex-dividend date of this dividend is Tuesday, June 14th. Altria Group’s dividend payout ratio is currently 219.51%.

Altria Group Company Profile (Get Rating)

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company provides cigarettes primarily under the Marlboro brand; cigars and pipe tobacco principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands, as well as provides on! oral nicotine pouches.

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

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