Altria Group, Inc. (NYSE:MO) Stock Position Reduced by Cedar Wealth Management LLC

Cedar Wealth Management LLC lessened its stake in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 10.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 117,624 shares of the company's stock after selling 13,635 shares during the period. Altria Group accounts for approximately 2.2% of Cedar Wealth Management LLC's portfolio, making the stock its 10th biggest position. Cedar Wealth Management LLC's holdings in Altria Group were worth $6,151,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp grew its position in Altria Group by 5.6% in the third quarter. State Street Corp now owns 73,481,686 shares of the company's stock worth $3,821,831,000 after acquiring an additional 3,910,738 shares during the period. Charles Schwab Investment Management Inc. grew its holdings 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 worth $3,127,218,000 after purchasing an additional 2,296,972 shares during the period. Geode Capital Management LLC increased 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 worth $2,079,919,000 after purchasing an additional 1,003,605 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Altria Group by 2.1% in the 4th quarter. Victory Capital Management Inc. now owns 4,488,007 shares of the company's stock valued at $234,678,000 after buying an additional 93,121 shares during the period. Finally, National Pension Service lifted its position in Altria Group by 4.9% in the fourth quarter. National Pension Service now owns 4,232,359 shares of the company's stock valued at $221,310,000 after buying an additional 197,945 shares during the last quarter. Institutional investors and hedge funds own 57.41% of the company's stock.

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Altria Group Stock Up 0.2 %

MO stock traded up $0.10 during midday trading on Tuesday, hitting $56.73. The company's stock had a trading volume of 10,376,322 shares, compared to its average volume of 8,542,338. The firm has a 50-day simple moving average of $54.56 and a 200-day simple moving average of $53.48. The firm has a market capitalization of $95.91 billion, a P/E ratio of 8.66, 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 released its earnings results on Thursday, January 30th. The company reported $1.29 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%. On average, sell-side analysts expect 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. Investors of record on Tuesday, March 25th will be issued 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 7.19%. Altria Group's dividend payout ratio (DPR) is 62.29%.

Analysts Set New Price Targets

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