Bank of Montreal Can Sells 289,097 Shares of Altria Group, Inc. (NYSE:MO)

Bank of Montreal Can trimmed its position in Altria Group, Inc. (NYSE:MO - Free Report) by 9.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,762,547 shares of the company's stock after selling 289,097 shares during the period. Bank of Montreal Can owned approximately 0.16% of Altria Group worth $144,454,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in MO. Financial Life Planners bought a new stake in shares of Altria Group during the fourth quarter valued at approximately $25,000. VSM Wealth Advisory LLC acquired a new stake in Altria Group in the 4th quarter valued at $29,000. Marshall Investment Management LLC bought a new stake in Altria Group during the 4th quarter valued at $32,000. Promus Capital LLC acquired a new position in Altria Group during the fourth quarter worth $33,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Altria Group in the 3rd quarter worth about $34,000. 57.41% of the stock is owned by institutional investors and hedge funds.

Altria Group Stock Performance

MO stock traded up $0.27 during mid-day trading on Friday, hitting $56.65. The company had a trading volume of 3,808,966 shares, compared to its average volume of 9,011,369. The firm has a market cap of $95.77 billion, a PE ratio of 8.65, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54. Altria Group, Inc. has a 12 month low of $40.65 and a 12 month high of $60.18. The stock's fifty day moving average price is $56.14 and its two-hundred day moving average price is $54.00.

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

Altria Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.20%. Altria Group's dividend payout ratio is presently 62.29%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MO shares. Morgan Stanley cut 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. UBS Group boosted their price target on shares of Altria Group from $42.00 to $46.00 and gave the stock a "sell" rating in a report on Tuesday, April 1st. Finally, Deutsche Bank Aktiengesellschaft set a $60.00 target price on Altria Group in a research note on Tuesday, April 1st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $54.00.

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.