Altria Group, Inc. (NYSE:MO) Stake Lowered by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. trimmed its position in shares of Altria Group, Inc. (NYSE:MO) by 2.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,439 shares of the company’s stock after selling 620 shares during the period. Sumitomo Life Insurance Co.’s holdings in Altria Group were worth $1,069,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Aviance Capital Partners LLC raised its position in shares of Altria Group by 0.5% during the third quarter. Aviance Capital Partners LLC now owns 40,362 shares of the company’s stock worth $2,060,000 after purchasing an additional 191 shares during the period. Fragasso Financial Advisors Inc raised its position in Altria Group by 3.3% in the 4th quarter. Fragasso Financial Advisors Inc now owns 6,302 shares of the company’s stock valued at $330,000 after buying an additional 199 shares during the last quarter. American Institute for Advanced Investment Management LLP raised its holdings in shares of Altria Group by 3.5% in the third quarter. American Institute for Advanced Investment Management LLP now owns 5,860 shares of the company’s stock valued at $299,000 after purchasing an additional 200 shares during the last quarter. Ridgecrest Wealth Partners LLC lifted its position in Altria Group by 3.5% during the 3rd quarter. Ridgecrest Wealth Partners LLC now owns 5,851 shares of the company’s stock worth $299,000 after buying an additional 200 shares in the last quarter. Finally, First Citizens Financial Corp grew its holdings in shares of Altria Group by 4.8% in the 4th quarter. First Citizens Financial Corp now owns 4,402 shares of the company’s stock valued at $230,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MO shares. Barclays increased their price target on Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. Citigroup boosted their price target on Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $55.00 to $65.00 in a research note on Friday, December 6th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Morgan Stanley initiated coverage on shares of Altria Group in a report on Thursday, January 16th. They set an “equal weight” rating and a $54.00 target price for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $53.43.

Altria Group Stock Up 0.4 %

NYSE MO opened at $52.81 on Thursday. The firm has a 50-day moving average price of $53.81 and a two-hundred day moving average price of $52.29. Altria Group, Inc. has a 12-month low of $39.25 and a 12-month high of $58.03. The company has a market capitalization of $89.50 billion, a P/E ratio of 8.92, a P/E/G ratio of 2.67 and a beta of 0.64.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.03. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. The business had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $5.33 billion. During the same quarter in the prior year, the business posted $1.28 earnings per share. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year. Equities analysts expect that Altria Group, Inc. will post 5.13 EPS for the current year.

Altria Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, December 26th were issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 7.73%. The ex-dividend date of this dividend was Thursday, December 26th. Altria Group’s dividend payout ratio (DPR) is currently 68.92%.

Altria Group Company Profile

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.