Altria Group, Inc. (NYSE:MO) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC lessened its stake in shares of 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 institutional investor owned 3,491,099 shares of the company’s stock after selling 106,428 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.21% of Altria Group worth $182,550,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in MO. Obermeyer Wealth Partners boosted its stake in shares of Altria Group by 64.8% during the 4th quarter. Obermeyer Wealth Partners now owns 7,984 shares of the company’s stock worth $417,000 after purchasing an additional 3,139 shares during the last quarter. McGowan Group Asset Management Inc. lifted its stake in shares of Altria Group by 6.2% during the fourth quarter. McGowan Group Asset Management Inc. now owns 15,872 shares of the company’s stock valued at $830,000 after buying an additional 926 shares during the period. Measured Risk Portfolios Inc. acquired a new stake in Altria Group during the fourth quarter worth approximately $2,148,000. Mork Capital Management LLC acquired a new stake in Altria Group during the fourth quarter worth approximately $999,000. Finally, Napa Wealth Management purchased a new stake in Altria Group in the 4th quarter worth approximately $2,160,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Price Performance

Shares of NYSE:MO opened at $57.99 on Friday. The business has a 50-day moving average of $58.01 and a two-hundred day moving average of $55.41. The firm has a market capitalization of $97.68 billion, a PE ratio of 8.85, a P/E/G ratio of 2.89 and a beta of 0.60. Altria Group, Inc. has a 12 month low of $43.83 and a 12 month high of $61.26.

Altria Group (NYSE:MO) last posted its earnings results on Tuesday, April 29th. The company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.04. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. The firm had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the prior year, the company earned $1.15 EPS. The company’s revenue was down 4.2% on a year-over-year basis. As a group, research analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th were paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.04%. The ex-dividend date of this dividend was Tuesday, March 25th. Altria Group’s dividend payout ratio is presently 68.34%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MO. UBS Group increased their price target on Altria Group from $46.00 to $47.00 and gave the stock a “sell” rating in a research note on Wednesday, April 30th. StockNews.com downgraded Altria Group from a “buy” rating to a “hold” rating in a research report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft set a $60.00 price target on Altria Group in a research note on Tuesday, April 1st. Morgan Stanley dropped their price objective on shares of 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. Finally, Citigroup raised their target price on shares of Altria Group from $52.00 to $55.00 and gave the stock a “neutral” rating in a research report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $56.00.

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.