Accurate Wealth Management LLC Trims Holdings in Altria Group, Inc. (NYSE:MO)

Accurate Wealth Management LLC lessened its position in Altria Group, Inc. (NYSE:MO - Free Report) by 13.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,241 shares of the company's stock after selling 10,317 shares during the period. Altria Group comprises 0.7% of Accurate Wealth Management LLC's portfolio, making the stock its 29th largest holding. Accurate Wealth Management LLC's holdings in Altria Group were worth $3,421,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of MO. True Wealth Design LLC increased its stake in shares of Altria Group by 420.0% during the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company's stock valued at $29,000 after acquiring an additional 462 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in Altria Group in the third quarter valued at approximately $34,000. Peterson Financial Group Inc. acquired a new position in Altria Group during the third quarter worth approximately $41,000. Fairman Group LLC raised its stake in Altria Group by 85.1% during the third quarter. Fairman Group LLC now owns 892 shares of the company's stock worth $46,000 after purchasing an additional 410 shares during the period. Finally, Legend Financial Advisors Inc. acquired a new position in shares of Altria Group in the 4th quarter valued at $52,000. Hedge funds and other institutional investors own 57.41% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on MO. Citigroup upped their price objective on Altria Group from $44.50 to $48.00 and gave the stock a "neutral" rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upped their price target on Altria Group from $52.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Barclays lifted their price objective on Altria Group from $45.00 to $46.00 and gave the company an "underweight" rating in a research note on Wednesday, November 6th. Stifel Nicolaus increased their target price on shares of Altria Group from $54.00 to $60.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Finally, Bank of America upgraded shares of Altria Group from a "neutral" rating to a "buy" rating and raised their price target for the company from $55.00 to $65.00 in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $53.33.

Altria Group Stock Performance

Shares of MO stock traded down $0.32 during trading hours on Wednesday, reaching $51.04. The company had a trading volume of 4,012,024 shares, compared to its average volume of 6,364,176. The company has a market capitalization of $86.50 billion, a P/E ratio of 8.62, a price-to-earnings-growth ratio of 3.03 and a beta of 0.64. Altria Group, Inc. has a twelve month low of $39.25 and a twelve month high of $58.03. The stock's fifty day simple moving average is $54.44 and its 200 day simple moving average is $51.92.

Altria Group (NYSE:MO - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.03. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. The company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $5.33 billion. During the same quarter last year, the company earned $1.28 earnings per share. Altria Group's revenue for the quarter was up 18.6% on a year-over-year basis. As a group, equities analysts expect that Altria Group, Inc. will post 5.12 earnings per share for the current year.

Altria Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 26th were issued a $1.02 dividend. The ex-dividend date was Thursday, December 26th. This represents a $4.08 dividend on an annualized basis and a yield of 7.99%. Altria Group's dividend payout ratio is currently 68.92%.

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.