ProVise Management Group LLC Sells 14,571 Shares of Altria Group, Inc. $MO

ProVise Management Group LLC decreased its stake in Altria Group, Inc. (NYSE:MO) by 73.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,350 shares of the company’s stock after selling 14,571 shares during the period. ProVise Management Group LLC’s holdings in Altria Group were worth $353,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Darwin Wealth Management LLC bought a new stake in Altria Group in the second quarter valued at approximately $27,000. Country Trust Bank increased its position in Altria Group by 400.0% during the 2nd quarter. Country Trust Bank now owns 500 shares of the company’s stock valued at $29,000 after purchasing an additional 400 shares during the period. Anfield Capital Management LLC raised its holdings in Altria Group by 334.7% during the 2nd quarter. Anfield Capital Management LLC now owns 539 shares of the company’s stock worth $32,000 after purchasing an additional 415 shares during the last quarter. Winnow Wealth LLC bought a new position in Altria Group during the 2nd quarter worth approximately $35,000. Finally, WFA of San Diego LLC acquired a new position in shares of Altria Group in the 2nd quarter worth approximately $39,000. 57.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on MO shares. Barclays upped their price objective on shares of Altria Group from $57.00 to $63.00 and gave the company an “underweight” rating in a research note on Monday, February 23rd. Jefferies Financial Group lifted their target price on shares of Altria Group from $47.00 to $50.00 and gave the stock an “underperform” rating in a research note on Wednesday, March 4th. Stifel Nicolaus cut their price target on shares of Altria Group from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. UBS Group upped their price target on shares of Altria Group from $67.00 to $74.00 and gave the company a “buy” rating in a research report on Monday. Finally, Citigroup increased their price target on Altria Group from $57.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Altria Group presently has a consensus rating of “Hold” and a consensus price target of $65.11.

Altria Group Stock Performance

Altria Group stock opened at $66.93 on Tuesday. The stock has a market capitalization of $111.91 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 2.84 and a beta of 0.45. Altria Group, Inc. has a 52-week low of $52.82 and a 52-week high of $70.51. The stock’s 50 day moving average price is $63.44 and its two-hundred day moving average price is $62.57.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, January 29th. The company reported $1.30 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.02). Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the company posted $1.30 EPS. On average, equities research analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, March 25th will be issued a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date is Wednesday, March 25th. Altria Group’s dividend payout ratio (DPR) is presently 103.16%.

Insiders Place Their Bets

In other Altria Group news, SVP Charles N. Whitaker sold 27,908 shares of Altria Group stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $67.57, for a total value of $1,885,743.56. Following the completion of the sale, the senior vice president directly owned 180,869 shares of the company’s stock, valued at approximately $12,221,318.33. The trade was a 13.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.08% of the company’s stock.

About Altria Group

Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.