Altria Group, Inc. (NYSE:MO) Stock Position Decreased by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC trimmed its stake in Altria Group, Inc. (NYSE:MO) by 46.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 84,836 shares of the company’s stock after selling 73,275 shares during the period. Kingsview Wealth Management LLC’s holdings in Altria Group were worth $5,092,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its stake in Altria Group by 64.7% in the fourth quarter. Brighton Jones LLC now owns 17,702 shares of the company’s stock valued at $926,000 after acquiring an additional 6,954 shares during the period. Proficio Capital Partners LLC increased its stake in shares of Altria Group by 32.3% in the 4th quarter. Proficio Capital Partners LLC now owns 5,670 shares of the company’s stock valued at $296,000 after purchasing an additional 1,385 shares during the last quarter. Horizon Investments LLC boosted its holdings in shares of Altria Group by 3.0% during the 4th quarter. Horizon Investments LLC now owns 29,610 shares of the company’s stock valued at $1,548,000 after acquiring an additional 865 shares in the last quarter. Generali Asset Management SPA SGR acquired a new position in shares of Altria Group in the 4th quarter valued at about $2,523,000. Finally, VSM Wealth Advisory LLC bought a new stake in Altria Group in the 4th quarter valued at about $29,000. 57.41% of the stock is owned by institutional investors.

Altria Group Stock Down 1.5%

NYSE:MO opened at $57.96 on Friday. The stock has a market cap of $97.64 billion, a PE ratio of 9.71, a price-to-earnings-growth ratio of 3.39 and a beta of 0.59. The firm’s fifty day simple moving average is $59.09 and its 200-day simple moving average is $56.77. Altria Group, Inc. has a fifty-two week low of $47.57 and a fifty-two week high of $61.26.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.04. The company had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.64 billion. Altria Group had a net margin of 43.09% and a negative return on equity of 295.44%. The business’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.15 earnings per share. Equities analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Monday, June 16th were issued a dividend of $1.02 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $4.08 annualized dividend and a yield of 7.04%. Altria Group’s payout ratio is presently 68.34%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Jefferies Financial Group began coverage on Altria Group in a research report on Wednesday, July 9th. They set an “underperform” rating and a $50.00 target price on the stock. Barclays increased their target price on shares of Altria Group from $46.00 to $49.00 and gave the stock an “underweight” rating in a report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft set a $60.00 target price on shares of Altria Group in a research note on Tuesday, April 1st. Stifel Nicolaus lifted their target price on shares of Altria Group from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Finally, Wall Street Zen cut shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $56.75.

Altria Group Company 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.