C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Sells 1,053 Shares of Altria Group, Inc. (NYSE:MO)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors reduced its position in Altria Group, Inc. (NYSE:MO) by 8.5% in the 4th quarter, Holdings Channel reports. The firm owned 11,285 shares of the company’s stock after selling 1,053 shares during the quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Altria Group were worth $590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of MO. Allspring Global Investments Holdings LLC grew its stake in shares of Altria Group by 25.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 457,536 shares of the company’s stock valued at $23,353,000 after purchasing an additional 93,654 shares during the period. Calton & Associates Inc. grew its stake in Altria Group by 7.7% during the third quarter. Calton & Associates Inc. now owns 6,105 shares of the company’s stock worth $312,000 after buying an additional 439 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Altria Group by 10.5% during the third quarter. Sequoia Financial Advisors LLC now owns 42,263 shares of the company’s stock worth $2,157,000 after buying an additional 4,032 shares in the last quarter. Signaturefd LLC raised its stake in shares of Altria Group by 5.4% in the third quarter. Signaturefd LLC now owns 29,332 shares of the company’s stock valued at $1,497,000 after acquiring an additional 1,502 shares during the last quarter. Finally, Eastern Bank acquired a new position in shares of Altria Group in the 3rd quarter worth approximately $828,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Stock Up 1.2 %

Shares of MO stock opened at $53.37 on Thursday. The firm has a market cap of $90.45 billion, a price-to-earnings ratio of 8.15, a PEG ratio of 2.83 and a beta of 0.64. Altria Group, Inc. has a 12 month low of $39.25 and a 12 month high of $58.03. The stock has a 50-day moving average price of $52.62 and a 200 day moving average price of $52.65.

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

Altria Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 26th were given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 7.65%. The ex-dividend date was Thursday, December 26th. Altria Group’s payout ratio is 62.29%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MO. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $55.00 to $65.00 in a report on Friday, December 6th. Stifel Nicolaus lifted their price target on Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Morgan Stanley decreased their price objective on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Altria Group presently has an average rating of “Hold” and an average target price of $53.29.

Altria Group 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.