Thrivent Financial for Lutherans Cuts Stake in Altria Group, Inc. (NYSE:MO)

Thrivent Financial for Lutherans reduced its position in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 7.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 417,871 shares of the company's stock after selling 33,945 shares during the period. Thrivent Financial for Lutherans' holdings in Altria Group were worth $21,866,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Life Planners acquired a new stake in Altria Group in the 4th quarter valued at about $25,000. True Wealth Design LLC grew its position in shares of Altria Group by 420.0% in the third quarter. True Wealth Design LLC now owns 572 shares of the company's stock valued at $29,000 after purchasing an additional 462 shares in the last quarter. Marshall Investment Management LLC acquired a new stake in shares of Altria Group in the fourth quarter valued at approximately $32,000. Promus Capital LLC acquired a new stake in shares of Altria Group in the fourth quarter valued at approximately $33,000. Finally, Legacy Investment Solutions LLC purchased a new position in Altria Group during the third quarter worth approximately $34,000. Hedge funds and other institutional investors own 57.41% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on MO. Morgan Stanley reduced their price target 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 raised shares of Altria Group from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $55.00 to $65.00 in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $53.29.

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Altria Group Stock Up 0.2 %

Shares of MO traded up $0.10 during trading on Tuesday, reaching $56.73. 10,377,095 shares of the company traded hands, compared to its average volume of 8,542,338. The stock has a 50-day simple moving average of $54.56 and a 200-day simple moving average of $53.48. The stock has a market cap of $95.91 billion, a PE ratio of 8.66, a price-to-earnings-growth ratio of 2.89 and a beta of 0.56. Altria Group, Inc. has a twelve month low of $40.65 and a twelve month high of $59.67.

Altria Group (NYSE:MO - Get Free Report) last posted its earnings results on Thursday, January 30th. The company reported $1.29 earnings per share for the quarter, beating 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, equities research analysts predict that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th will be issued a $1.02 dividend. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 annualized dividend and a dividend yield of 7.19%. Altria Group's dividend payout ratio is presently 62.29%.

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.