Wealth Dimensions Group Ltd. Cuts Position in Altria Group, Inc. (NYSE:MO)

Wealth Dimensions Group Ltd. reduced its holdings in Altria Group, Inc. (NYSE:MO) by 11.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,145 shares of the company’s stock after selling 1,089 shares during the period. Wealth Dimensions Group Ltd.’s holdings in Altria Group were worth $426,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Virtu Financial LLC purchased a new position in Altria Group during the third quarter valued at $2,041,000. Wealthquest Corp purchased a new stake in Altria Group during the 3rd quarter worth approximately $209,000. Chelsea Counsel Co. lifted its position in shares of Altria Group by 7.8% in the third quarter. Chelsea Counsel Co. now owns 20,300 shares of the company’s stock valued at $1,056,000 after acquiring an additional 1,465 shares in the last quarter. Anchor Investment Management LLC increased its position in shares of Altria Group by 35.9% during the third quarter. Anchor Investment Management LLC now owns 13,174 shares of the company’s stock worth $672,000 after purchasing an additional 3,478 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. raised its stake in Altria Group by 0.9% in the 3rd quarter. Stock Yards Bank & Trust Co. now owns 82,445 shares of the company’s stock valued at $4,208,000 after purchasing an additional 730 shares during the last quarter. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Altria Group Stock Performance

Shares of Altria Group stock opened at $58.13 on Monday. The stock has a 50 day moving average of $56.68 and a 200 day moving average of $54.30. The firm has a market capitalization of $98.27 billion, a price-to-earnings ratio of 8.87, a PEG ratio of 2.89 and a beta of 0.54. Altria Group, Inc. has a fifty-two week low of $42.02 and a fifty-two week high of $60.18.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. Analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th will be given a dividend of $1.02 per share. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.02%. Altria Group’s payout ratio is currently 62.29%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley dropped their target price on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on shares of Altria Group in a research note on Tuesday, April 1st. Finally, UBS Group raised their target price on shares of Altria Group from $42.00 to $46.00 and gave the stock a “sell” rating in a research note on Tuesday, April 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $54.00.

About Altria Group

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.