Belpointe Asset Management LLC Sells 6,424 Shares of Altria Group, Inc. (NYSE:MO)

Belpointe Asset Management LLC lessened its stake in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 9.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 62,260 shares of the company's stock after selling 6,424 shares during the quarter. Belpointe Asset Management LLC's holdings in Altria Group were worth $3,348,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. TD Private Client Wealth LLC lifted its stake in Altria Group by 18.3% during the third quarter. TD Private Client Wealth LLC now owns 7,158 shares of the company's stock worth $365,000 after purchasing an additional 1,108 shares during the last quarter. Virtu Financial LLC bought a new stake in Altria Group during the 3rd quarter valued at $2,041,000. Wealthquest Corp bought a new stake in Altria Group in the 3rd quarter worth $209,000. Chelsea Counsel Co. raised its stake in shares of Altria Group by 7.8% during the third quarter. Chelsea Counsel Co. now owns 20,300 shares of the company's stock valued at $1,056,000 after acquiring an additional 1,465 shares during the last quarter. Finally, Anchor Investment Management LLC boosted its holdings in shares of Altria Group by 35.9% during the third quarter. Anchor Investment Management LLC now owns 13,174 shares of the company's stock worth $672,000 after purchasing an additional 3,478 shares during the period. Institutional investors own 57.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft set a $60.00 target price on Altria Group in a report on Tuesday, April 1st. Morgan Stanley dropped their target price on shares of Altria Group from $54.00 to $53.00 and set an "equal weight" rating on the stock in a report on Friday, January 31st. Finally, UBS Group lifted their price objective on Altria Group from $42.00 to $46.00 and gave the company a "sell" rating in a research note on Tuesday, April 1st. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $54.00.

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Altria Group Price Performance

NYSE MO traded up $0.44 during trading hours on Tuesday, hitting $57.57. The company's stock had a trading volume of 6,382,766 shares, compared to its average volume of 9,005,965. The company's 50 day simple moving average is $56.31 and its two-hundred day simple moving average is $54.10. Altria Group, Inc. has a 12 month low of $40.72 and a 12 month high of $60.18. The company has a market cap of $97.33 billion, a P/E ratio of 8.79, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54.

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, 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%. As a group, research analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, March 25th will be paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 7.09%. The ex-dividend date of this dividend is Tuesday, March 25th. Altria Group's payout ratio is 62.29%.

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.