Burns J W & Co. Inc. NY Sells 1,210 Shares of Altria Group, Inc. (NYSE:MO)

Burns J W & Co. Inc. NY cut its stake in Altria Group, Inc. (NYSE:MO) by 6.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,946 shares of the company’s stock after selling 1,210 shares during the period. Burns J W & Co. Inc. NY’s holdings in Altria Group were worth $1,137,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Truvestments Capital LLC lifted its stake in shares of Altria Group by 4.3% in the 4th quarter. Truvestments Capital LLC now owns 4,581 shares of the company’s stock valued at $240,000 after acquiring an additional 190 shares during the last quarter. Enterprise Financial Services Corp grew its position in Altria Group by 4.0% during the 4th quarter. Enterprise Financial Services Corp now owns 5,052 shares of the company’s stock worth $264,000 after acquiring an additional 194 shares during the last quarter. Horst & Graben Wealth Management LLC increased its holdings in Altria Group by 1.5% in the 4th quarter. Horst & Graben Wealth Management LLC now owns 13,015 shares of the company’s stock worth $681,000 after purchasing an additional 198 shares in the last quarter. Asset Dedication LLC raised its position in Altria Group by 27.7% in the fourth quarter. Asset Dedication LLC now owns 921 shares of the company’s stock valued at $48,000 after purchasing an additional 200 shares during the last quarter. Finally, CMG Global Holdings LLC raised its position in Altria Group by 0.6% in the fourth quarter. CMG Global Holdings LLC now owns 35,349 shares of the company’s stock valued at $1,796,000 after purchasing an additional 202 shares during the last quarter. 57.41% of the stock is owned by institutional investors.

Altria Group Price Performance

Shares of NYSE MO opened at $60.39 on Friday. The stock has a market capitalization of $101.72 billion, a PE ratio of 9.22, a P/E/G ratio of 2.89 and a beta of 0.60. Altria Group, Inc. has a one year low of $43.83 and a one year high of $61.26. The business’s fifty day moving average price is $58.34 and its 200-day moving average price is $55.88.

Altria Group (NYSE:MO) last released its quarterly earnings data on Tuesday, April 29th. The company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.04. The business had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.64 billion. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. Altria Group’s revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.15 EPS. As a group, equities analysts expect that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Monday, June 16th will be given a $1.02 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 6.76%. Altria Group’s dividend payout ratio (DPR) is currently 68.34%.

Analysts Set New Price Targets

MO has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft set a $60.00 price target on shares of Altria Group in a research report on Tuesday, April 1st. Barclays increased their price objective on Altria Group from $46.00 to $49.00 and gave the company an “underweight” rating in a report on Friday, May 2nd. Citigroup lifted their target price on Altria Group from $52.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday, April 25th. Stifel Nicolaus upped their price target on Altria Group from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Finally, UBS Group raised their price objective on Altria Group from $46.00 to $47.00 and gave the stock a “sell” rating in a research report on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Altria Group presently has a consensus rating of “Hold” and a consensus target price of $56.00.

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.