Daymark Wealth Partners LLC Has $1.73 Million Stock Holdings in Altria Group, Inc. (NYSE:MO)

Daymark Wealth Partners LLC lessened its stake in Altria Group, Inc. (NYSE:MO) by 4.2% in the first quarter, Holdings Channel reports. The firm owned 28,839 shares of the company’s stock after selling 1,271 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Altria Group were worth $1,731,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MO. Redwood Park Advisors LLC acquired a new position in shares of Altria Group in the 4th quarter valued at approximately $26,000. VSM Wealth Advisory LLC acquired a new position in shares of Altria Group in the 4th quarter valued at approximately $29,000. Marshall Investment Management LLC acquired a new position in shares of Altria Group in the 4th quarter valued at approximately $32,000. Promus Capital LLC acquired a new position in shares of Altria Group in the 4th quarter valued at approximately $33,000. Finally, Pinney & Scofield Inc. acquired a new position in Altria Group during the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Stock Performance

Shares of NYSE:MO opened at $59.05 on Tuesday. Altria Group, Inc. has a 52-week low of $43.83 and a 52-week high of $61.26. The company has a fifty day moving average of $58.49 and a 200-day moving average of $56.03. The company has a market capitalization of $99.46 billion, a PE ratio of 9.01, a price-to-earnings-growth ratio of 2.89 and a beta of 0.60.

Altria Group (NYSE:MO) last issued 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 negative return on equity of 258.72% and a net margin of 46.90%. The business had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the prior year, the firm earned $1.15 EPS. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, equities analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Dividend Announcement

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 paid a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 6.91%. The ex-dividend date is Monday, June 16th. Altria Group’s dividend payout ratio is currently 68.34%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MO. Wall Street Zen downgraded shares of Altria Group from a “buy” rating to a “hold” rating in a research report on Thursday, May 1st. UBS Group boosted their price target on Altria Group from $46.00 to $47.00 and gave the stock a “sell” rating in a report on Wednesday, April 30th. Stifel Nicolaus boosted their price target on Altria Group from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Barclays boosted their target price on Altria Group from $46.00 to $49.00 and gave the stock an “underweight” rating in a research note on Friday, May 2nd. Finally, Needham & Company LLC raised Altria Group to a “hold” rating in a research note on Thursday, May 22nd. Two research 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, Altria Group presently has an average rating of “Hold” and an average price target 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.