Raymond James Trust N.A. Decreases Position in Altria Group, Inc. (NYSE:MO)

Raymond James Trust N.A. lowered its stake in shares of Altria Group, Inc. (NYSE:MOFree Report) by 67.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 84,369 shares of the company’s stock after selling 176,617 shares during the period. Raymond James Trust N.A.’s holdings in Altria Group were worth $3,403,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Loomis Sayles & Co. L P purchased a new position in Altria Group in the 1st quarter valued at approximately $25,000. Altshuler Shaham Ltd purchased a new position in Altria Group in the 3rd quarter valued at approximately $26,000. Nemes Rush Group LLC grew its stake in Altria Group by 103.2% in the 3rd quarter. Nemes Rush Group LLC now owns 636 shares of the company’s stock valued at $27,000 after buying an additional 323 shares in the last quarter. WFA of San Diego LLC purchased a new position in Altria Group in the 2nd quarter valued at approximately $30,000. Finally, Financial Gravity Asset Management Inc. grew its stake in Altria Group by 1,800.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 703 shares of the company’s stock valued at $30,000 after buying an additional 666 shares in the last quarter. Hedge funds and other institutional investors own 58.94% of the company’s stock.

Altria Group Price Performance

MO opened at $44.77 on Thursday. The company has a fifty day moving average price of $41.09 and a 200-day moving average price of $41.53. The firm has a market capitalization of $78.95 billion, a P/E ratio of 9.80, a price-to-earnings-growth ratio of 2.69 and a beta of 0.65. Altria Group, Inc. has a one year low of $39.06 and a one year high of $48.04.

Altria Group (NYSE:MOGet Free Report) last released its quarterly earnings results on Thursday, February 1st. The company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.01. The firm had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.06 billion. Altria Group had a net margin of 33.21% and a negative return on equity of 244.55%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.18 EPS. On average, analysts expect that Altria Group, Inc. will post 5.08 earnings per share for the current year.

Altria Group announced that its board has initiated a share repurchase program on Thursday, February 1st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 1.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Altria Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, March 25th will be issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 8.76%. The ex-dividend date is Friday, March 22nd. Altria Group’s dividend payout ratio is currently 85.78%.

Wall Street Analyst Weigh In

MO has been the subject of a number of recent research reports. StockNews.com lowered shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. UBS Group reiterated a “sell” rating and issued a $36.10 price objective on shares of Altria Group in a research note on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Altria Group currently has an average rating of “Hold” and a consensus target price of $47.22.

Get Our Latest Stock Analysis on MO

Altria Group Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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