Powell Investment Advisors LLC trimmed its stake in shares of Altria Group, Inc. (NYSE:MO) by 8.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,994 shares of the company’s stock after selling 474 shares during the quarter. Powell Investment Advisors LLC’s holdings in Altria Group were worth $209,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Strategic Investment Advisors MI bought a new position in Altria Group in the 4th quarter valued at about $572,000. IFM Investors Pty Ltd increased its stake in shares of Altria Group by 45.8% during the fourth quarter. IFM Investors Pty Ltd now owns 76,477 shares of the company’s stock worth $3,136,000 after purchasing an additional 24,023 shares during the period. Lavaca Capital LLC lifted its holdings in Altria Group by 0.6% during the 4th quarter. Lavaca Capital LLC now owns 95,902 shares of the company’s stock worth $3,932,000 after purchasing an additional 605 shares during the last quarter. Tandem Investment Advisors Inc. boosted its stake in Altria Group by 8.2% in the 4th quarter. Tandem Investment Advisors Inc. now owns 6,655 shares of the company’s stock valued at $273,000 after purchasing an additional 505 shares during the period. Finally, Coastal Investment Advisors Inc. grew its holdings in Altria Group by 39.4% in the 4th quarter. Coastal Investment Advisors Inc. now owns 16,312 shares of the company’s stock valued at $669,000 after buying an additional 4,611 shares in the last quarter. Hedge funds and other institutional investors own 59.47% of the company’s stock.
A number of research analysts have issued reports on MO shares. BidaskClub lowered shares of Altria Group from a “hold” rating to a “sell” rating in a research report on Wednesday, December 30th. Piper Sandler lifted their price objective on Altria Group from $47.00 to $57.00 and gave the company an “overweight” rating in a report on Friday, December 11th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $49.67.
Altria Group (NYSE:MO) last released its quarterly earnings data on Wednesday, November 4th. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.03. The company had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.38 billion. Altria Group had a net margin of 2.84% and a return on equity of 148.93%. Altria Group’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.19 EPS. Equities analysts expect that Altria Group, Inc. will post 4.37 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 11th. Stockholders of record on Monday, December 28th were issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 8.37%. The ex-dividend date was Thursday, December 24th. Altria Group’s dividend payout ratio is currently 81.52%.
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, as well as provides on! oral nicotine pouches.
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