Global Retirement Partners LLC reduced its position in shares of Altria Group, Inc. (NYSE:MO) by 19.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,019 shares of the company’s stock after selling 7,499 shares during the period. Global Retirement Partners LLC’s holdings in Altria Group were worth $1,313,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of MO. LSV Asset Management boosted its holdings in shares of Altria Group by 83.5% during the third quarter. LSV Asset Management now owns 4,597,011 shares of the company’s stock worth $177,628,000 after purchasing an additional 2,091,256 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Altria Group during the third quarter worth about $73,863,000. Natixis lifted its holdings in Altria Group by 445.2% in the third quarter. Natixis now owns 1,995,719 shares of the company’s stock worth $77,114,000 after buying an additional 1,629,652 shares during the period. Morgan Stanley lifted its holdings in Altria Group by 16.4% in the third quarter. Morgan Stanley now owns 6,257,464 shares of the company’s stock worth $241,787,000 after buying an additional 879,355 shares during the period. Finally, Retirement Systems of Alabama lifted its holdings in Altria Group by 88.6% in the third quarter. Retirement Systems of Alabama now owns 1,779,019 shares of the company’s stock worth $68,741,000 after buying an additional 835,713 shares during the period. Institutional investors own 59.47% of the company’s stock.
Several analysts have commented on MO shares. Piper Sandler raised their price objective on shares of Altria Group from $47.00 to $57.00 and gave the stock an “overweight” rating in a report on Friday, December 11th. BidaskClub lowered shares of Altria Group from a “hold” rating to a “sell” rating in a report on Wednesday, December 30th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. Altria Group presently has a consensus rating of “Hold” and a consensus target price of $49.67.
Altria Group (NYSE:MO) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $1.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.03. The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.38 billion. Altria Group had a net margin of 2.84% and a return on equity of 148.93%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.19 earnings per share. On average, sell-side analysts expect that Altria Group, Inc. will post 4.37 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, January 11th. Investors of record on Monday, December 28th were given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 8.37%. The ex-dividend date was Thursday, December 24th. Altria Group’s dividend payout ratio (DPR) 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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