Altria Group, Inc. (NYSE:MO) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. trimmed its stake in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 35.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 114,434 shares of the company's stock after selling 62,055 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Altria Group were worth $5,984,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Truvestments Capital LLC increased its stake in shares of Altria Group by 4.3% during the fourth quarter. Truvestments Capital LLC now owns 4,581 shares of the company's stock worth $240,000 after acquiring an additional 190 shares during the period. Aviance Capital Partners LLC boosted its holdings in Altria Group by 0.5% in the 3rd quarter. Aviance Capital Partners LLC now owns 40,362 shares of the company's stock valued at $2,060,000 after purchasing an additional 191 shares in the last quarter. Enterprise Financial Services Corp increased 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 purchasing an additional 194 shares during the period. Horst & Graben Wealth Management LLC raised its stake in shares of Altria Group by 1.5% during the 4th quarter. Horst & Graben Wealth Management LLC now owns 13,015 shares of the company's stock worth $681,000 after buying an additional 198 shares in the last quarter. Finally, Fragasso Financial Advisors Inc lifted its holdings in shares of Altria Group by 3.3% in the 4th quarter. Fragasso Financial Advisors Inc now owns 6,302 shares of the company's stock valued at $330,000 after buying an additional 199 shares during the period. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

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Altria Group Price Performance

MO traded down $0.63 during trading on Friday, reaching $57.46. 33,823,283 shares of the stock were exchanged, compared to its average volume of 8,648,086. Altria Group, Inc. has a 1 year low of $40.65 and a 1 year high of $59.67. The company has a market capitalization of $97.14 billion, a price-to-earnings ratio of 8.77, a P/E/G ratio of 2.89 and a beta of 0.56. The business's 50 day moving average price is $54.29 and its two-hundred day moving average price is $53.45.

Altria Group (NYSE:MO - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.28 by $0.01. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. On average, analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th will be paid a dividend of $1.02 per share. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.10%. Altria Group's dividend payout ratio (DPR) is 62.29%.

Wall Street Analyst Weigh In

MO has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price objective on Altria Group from $54.00 to $53.00 and set an "equal weight" rating on the stock in a report on Friday, January 31st. Bank of America upgraded shares of Altria Group from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $55.00 to $65.00 in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $53.29.

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.