Altria Group, Inc. (NYSE:MO) Shares Sold by Mid American Wealth Advisory Group Inc.

Mid American Wealth Advisory Group Inc. reduced its stake in Altria Group, Inc. (NYSE:MO) by 3.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,562 shares of the company’s stock after selling 1,788 shares during the period. Altria Group accounts for approximately 1.7% of Mid American Wealth Advisory Group Inc.’s holdings, making the stock its 18th biggest position. Mid American Wealth Advisory Group Inc.’s holdings in Altria Group were worth $2,422,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Altshuler Shaham Ltd acquired a new stake in Altria Group during the third quarter valued at approximately $26,000. Nemes Rush Group LLC grew its position in Altria Group by 103.2% during the 3rd quarter. Nemes Rush Group LLC now owns 636 shares of the company’s stock worth $27,000 after purchasing an additional 323 shares in the last quarter. ZRC Wealth Management LLC grew its position in Altria Group by 67.6% during the 4th quarter. ZRC Wealth Management LLC now owns 677 shares of the company’s stock worth $28,000 after purchasing an additional 273 shares in the last quarter. Criterion Capital Advisors LLC purchased a new position in Altria Group during the 4th quarter worth approximately $27,000. Finally, Financial Gravity Asset Management Inc. grew its position in Altria Group by 1,800.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 703 shares of the company’s stock worth $30,000 after purchasing an additional 666 shares in the last quarter. 57.41% of the stock is owned by institutional investors and hedge funds.

Altria Group Stock Up 0.7 %

Shares of Altria Group stock traded up $0.31 on Monday, hitting $43.69. 4,967,588 shares of the company traded hands, compared to its average volume of 11,929,564. The company has a 50-day moving average price of $42.18 and a 200 day moving average price of $41.45. Altria Group, Inc. has a 12-month low of $39.06 and a 12-month high of $48.04. The company has a market cap of $75.04 billion, a PE ratio of 9.16, a PEG ratio of 2.60 and a beta of 0.65.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, April 25th. The company reported $1.15 EPS for the quarter, meeting the consensus estimate of $1.15. Altria Group had a net margin of 34.81% and a negative return on equity of 222.80%. The business had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.71 billion. During the same period in the previous year, the company posted $1.18 EPS. Altria Group’s revenue was down 1.0% on a year-over-year basis. Equities research analysts anticipate that Altria Group, Inc. will post 5.11 EPS for the current year.

Altria Group announced that its board has initiated a stock repurchase plan on Thursday, February 1st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Altria Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, March 25th will be paid a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 8.97%. The ex-dividend date is Friday, March 22nd. Altria Group’s payout ratio is presently 82.01%.

Analysts Set New Price Targets

MO has been the topic of several research analyst reports. Stifel Nicolaus reiterated a “buy” rating and set a $50.00 price objective on shares of Altria Group in a research report on Monday, March 25th. UBS Group boosted their price target on shares of Altria Group from $36.10 to $36.50 and gave the company a “sell” rating in a report on Monday, April 8th. Finally, StockNews.com cut shares of Altria Group from a “buy” rating to a “hold” rating in a report on Sunday, April 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Altria Group presently has a consensus rating of “Hold” and a consensus target price of $46.90.

About Altria Group

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.