Altria Group, Inc. (NYSE:MO) Stock Holdings Decreased by Farther Finance Advisors LLC

Farther Finance Advisors LLC lowered its stake in Altria Group, Inc. (NYSE:MO - Free Report) by 12.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 34,193 shares of the company's stock after selling 4,765 shares during the period. Farther Finance Advisors LLC's holdings in Altria Group were worth $1,788,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MO. State Street Corp increased its position in shares of Altria Group by 5.6% in the 3rd quarter. State Street Corp now owns 73,481,686 shares of the company's stock worth $3,821,831,000 after purchasing an additional 3,910,738 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Altria Group during the 4th quarter valued at about $137,536,000. Charles Schwab Investment Management Inc. grew its position in shares of Altria Group by 4.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 59,805,286 shares of the company's stock valued at $3,127,218,000 after buying an additional 2,296,972 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Altria Group by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 40,803,759 shares of the company's stock valued at $2,079,919,000 after buying an additional 1,003,605 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new stake in shares of Altria Group during the 3rd quarter valued at about $32,206,000. Institutional investors own 57.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MO shares. Morgan Stanley lowered their price objective on shares of Altria Group from $54.00 to $53.00 and set an "equal weight" rating for the company in a research report on Friday, January 31st. Bank of America raised shares of Altria Group from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $55.00 to $65.00 in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Altria Group currently has a consensus rating of "Hold" and an average target price of $53.29.

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Altria Group Stock Up 1.2 %

Altria Group stock opened at $58.50 on Friday. The firm has a 50-day moving average price of $53.64 and a two-hundred day moving average price of $53.27. The firm has a market capitalization of $98.90 billion, a price-to-earnings ratio of 8.93, a PEG ratio of 2.89 and a beta of 0.56. Altria Group, Inc. has a 52-week low of $40.65 and a 52-week 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 (EPS) for the quarter, beating analysts' consensus estimates of $1.28 by $0.01. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. Research analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 6.97%. The ex-dividend date of this dividend is Tuesday, March 25th. Altria Group's dividend payout ratio is currently 62.29%.

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.

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