Altria Group, Inc. (NYSE:MO) Shares Sold by McGlone Suttner Wealth Management Inc.

McGlone Suttner Wealth Management Inc. lowered its holdings in Altria Group, Inc. (NYSE:MO) by 10.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,324 shares of the company’s stock after selling 761 shares during the period. McGlone Suttner Wealth Management Inc.’s holdings in Altria Group were worth $380,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Viewpoint Capital Management LLC grew its stake in shares of Altria Group by 6.3% in the 1st quarter. Viewpoint Capital Management LLC now owns 24,739 shares of the company’s stock worth $1,485,000 after purchasing an additional 1,458 shares during the last quarter. Sierra Ocean LLC grew its stake in shares of Altria Group by 226.3% in the 1st quarter. Sierra Ocean LLC now owns 509 shares of the company’s stock worth $31,000 after purchasing an additional 353 shares during the last quarter. Adell Harriman & Carpenter Inc. acquired a new position in shares of Altria Group in the 1st quarter worth approximately $376,000. Concurrent Investment Advisors LLC grew its stake in shares of Altria Group by 31.4% in the 1st quarter. Concurrent Investment Advisors LLC now owns 114,212 shares of the company’s stock worth $6,855,000 after purchasing an additional 27,270 shares during the last quarter. Finally, Elite Financial Inc. acquired a new position in shares of Altria Group in the 1st quarter worth approximately $192,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Price Performance

Shares of MO opened at $59.62 on Friday. Altria Group, Inc. has a one year low of $45.87 and a one year high of $61.26. The company has a 50-day moving average of $59.28 and a two-hundred day moving average of $56.45. The stock has a market cap of $100.43 billion, a price-to-earnings ratio of 9.99, a PEG ratio of 3.49 and a beta of 0.59.

Altria Group (NYSE:MO) last announced its earnings results on Tuesday, April 29th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.19 by $0.04. The company had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.64 billion. Altria Group had a net margin of 43.09% and a negative return on equity of 295.44%. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period last year, the company posted $1.15 earnings per share. Analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Monday, June 16th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 6.84%. The ex-dividend date of this dividend is Monday, June 16th. Altria Group’s dividend payout ratio is currently 68.34%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MO. Wall Street Zen cut shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Thursday, May 1st. Barclays lifted their price objective on shares of Altria Group from $46.00 to $49.00 and gave the stock an “underweight” rating in a research note on Friday, May 2nd. UBS Group raised shares of Altria Group from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $47.00 to $59.00 in a research note on Wednesday. Stifel Nicolaus raised their target price on shares of Altria Group from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Finally, Citigroup raised their target price on shares of Altria Group from $52.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $57.71.

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.