Fiduciary Financial Group LLC Has $348,000 Stock Position in Altria Group, Inc. (NYSE:MO)

Fiduciary Financial Group LLC decreased its stake in Altria Group, Inc. (NYSE:MO) by 6.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,173 shares of the company’s stock after selling 421 shares during the quarter. Fiduciary Financial Group LLC’s holdings in Altria Group were worth $348,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Simplicity Wealth LLC raised its stake in shares of Altria Group by 152.2% during the 1st quarter. Simplicity Wealth LLC now owns 58,268 shares of the company’s stock worth $3,497,000 after purchasing an additional 35,168 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Altria Group by 17.8% during the 1st quarter. GAMMA Investing LLC now owns 36,028 shares of the company’s stock worth $2,162,000 after purchasing an additional 5,440 shares in the last quarter. Trust Co. of Oklahoma purchased a new stake in shares of Altria Group during the 1st quarter worth about $210,000. Requisite Capital Management LLC purchased a new stake in shares of Altria Group during the 1st quarter worth about $216,000. Finally, Harbor Capital Advisors Inc. raised its stake in shares of Altria Group by 15.0% during the 1st quarter. Harbor Capital Advisors Inc. now owns 30,194 shares of the company’s stock worth $1,812,000 after purchasing an additional 3,941 shares in the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Stock Down 0.8%

Altria Group stock opened at $58.58 on Wednesday. The business’s 50-day simple moving average is $58.50 and its 200 day simple moving average is $56.05. The stock has a market cap of $98.68 billion, a price-to-earnings ratio of 8.94, 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 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 firm had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter last year, the business earned $1.15 earnings per share. The company’s revenue was down 4.2% compared to the same quarter last year. As a group, sell-side analysts expect that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Monday, June 16th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 6.96%. The ex-dividend date is Monday, June 16th. Altria Group’s dividend payout ratio (DPR) is presently 68.34%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MO. Needham & Company LLC raised Altria Group to a “hold” rating in a research note on Thursday, May 22nd. Stifel Nicolaus raised their price objective on Altria Group from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Wall Street Zen downgraded Altria Group from a “buy” rating to a “hold” rating in a research note on Thursday, May 1st. Citigroup raised their price objective on Altria Group from $52.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, April 25th. Finally, Deutsche Bank Aktiengesellschaft set a $60.00 price objective on Altria Group in a research note on Tuesday, April 1st. Two 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. Based on data from MarketBeat, Altria Group presently has an average rating of “Hold” and an average 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.