Altria Group, Inc. (NYSE:MO) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. decreased its holdings in shares of Altria Group, Inc. (NYSE:MO) by 35.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 114,434 shares of the company’s stock after selling 62,055 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Altria Group were worth $5,984,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Claro Advisors LLC grew its stake in shares of Altria Group by 28.0% in the third quarter. Claro Advisors LLC now owns 9,055 shares of the company’s stock valued at $462,000 after buying an additional 1,979 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Altria Group by 4.6% in the third quarter. Thrivent Financial for Lutherans now owns 451,816 shares of the company’s stock valued at $23,060,000 after buying an additional 19,673 shares in the last quarter. Aljian Capital Management LLC acquired a new stake in shares of Altria Group in the third quarter valued at $397,000. Richard C. Young & CO. LTD. acquired a new stake in shares of Altria Group in the third quarter valued at $13,476,000. Finally, ETF Store Inc. grew its stake in shares of Altria Group by 4.5% in the third quarter. ETF Store Inc. now owns 7,642 shares of the company’s stock valued at $390,000 after buying an additional 331 shares in the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Morgan Stanley dropped their price objective on Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Bank of America raised Altria Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $55.00 to $65.00 in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Altria Group presently has a consensus rating of “Hold” and a consensus target price of $53.29.

Altria Group Trading Down 0.1 %

NYSE:MO opened at $58.87 on Tuesday. The firm has a market cap of $99.53 billion, a PE ratio of 8.99, a price-to-earnings-growth ratio of 2.89 and a beta of 0.56. The stock has a fifty day moving average price of $53.89 and a 200 day moving average price of $53.35. Altria Group, Inc. has a 12-month low of $40.65 and a 12-month high of $59.67.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) 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%. Equities analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, March 25th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 6.93%. The ex-dividend date of this dividend is Tuesday, March 25th. Altria Group’s dividend payout ratio (DPR) is 62.29%.

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.