Axxcess Wealth Management LLC Sells 10,556 Shares of Altria Group, Inc. (NYSE:MO)

Axxcess Wealth Management LLC cut its holdings in Altria Group, Inc. (NYSE:MO - Free Report) by 20.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,145 shares of the company's stock after selling 10,556 shares during the quarter. Axxcess Wealth Management LLC's holdings in Altria Group were worth $2,204,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in MO. Thrivent Financial for Lutherans increased its stake in Altria Group by 4.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 451,816 shares of the company's stock valued at $23,060,000 after purchasing an additional 19,673 shares in the last quarter. Baron Wealth Management LLC purchased a new stake in shares of Altria Group during the third quarter valued at approximately $204,000. Prospera Financial Services Inc increased its position in shares of Altria Group by 9.8% during the third quarter. Prospera Financial Services Inc now owns 79,149 shares of the company's stock valued at $4,040,000 after acquiring an additional 7,088 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its position in Altria Group by 79.9% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 14,004 shares of the company's stock valued at $715,000 after acquiring an additional 6,219 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Altria Group during the 3rd quarter valued at $1,394,000. Institutional investors own 57.41% of the company's stock.

Altria Group Price Performance

Shares of MO traded up $0.02 during trading hours on Monday, hitting $57.62. The stock had a trading volume of 11,946,626 shares, compared to its average volume of 8,547,446. The firm has a market capitalization of $97.41 billion, a PE ratio of 8.80, a PEG ratio of 2.89 and a beta of 0.56. Altria Group, Inc. has a 12 month low of $40.65 and a 12 month high of $59.67. The stock has a fifty day moving average price of $54.42 and a 200 day moving average price of $53.46.

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

Altria Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, March 25th will be given a $1.02 dividend. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $4.08 annualized dividend and a yield of 7.08%. Altria Group's payout ratio is presently 62.29%.

Analysts Set New Price Targets

A number of research firms have commented on MO. Morgan Stanley decreased their price target on Altria Group from $54.00 to $53.00 and set an "equal weight" rating for the company in a research note on Friday, January 31st. Bank of America upgraded Altria Group from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $55.00 to $65.00 in a report on Friday, December 6th. Two investment 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's stock. Based on data from MarketBeat.com, Altria Group presently has a consensus rating of "Hold" and a consensus price target of $53.29.

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.