Altria Group, Inc. (NYSE:MO) Stake Reduced by Cullen Capital Management LLC

Cullen Capital Management LLC cut its holdings in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 1.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,659,415 shares of the company's stock after selling 40,475 shares during the period. Cullen Capital Management LLC owned about 0.16% of Altria Group worth $139,061,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of MO. Financial Life Planners purchased a new position in shares of Altria Group in the fourth quarter valued at approximately $25,000. VSM Wealth Advisory LLC acquired a new position in shares of Altria Group in the 4th quarter valued at $29,000. Marshall Investment Management LLC purchased a new position in Altria Group during the fourth quarter worth about $32,000. Promus Capital LLC acquired a new stake in Altria Group in the 4th quarter valued at approximately $33,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Altria Group in the 3rd quarter valued at $34,000. Hedge funds and other institutional investors own 57.41% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MO shares. Morgan Stanley decreased their price target 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. Deutsche Bank Aktiengesellschaft lowered shares of Altria Group from a "buy" rating to a "hold" rating in a research note on Tuesday, April 1st. Finally, UBS Group lifted their target price on Altria Group from $42.00 to $46.00 and gave the stock a "sell" rating in a research report on Tuesday, April 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Altria Group has a consensus rating of "Hold" and an average target price of $54.00.

Remove Ads

Altria Group Stock Performance

Altria Group stock traded down $1.84 during trading on Friday, reaching $56.05. 16,322,328 shares of the company's stock were exchanged, compared to its average volume of 8,941,049. The company's 50-day moving average is $55.72 and its two-hundred day moving average is $53.82. The firm has a market cap of $94.77 billion, a price-to-earnings ratio of 8.56, a PEG ratio of 2.89 and a beta of 0.54. Altria Group, Inc. has a 52-week low of $40.65 and a 52-week high of $60.18.

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 analysts' consensus estimates of $1.28 by $0.01. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. Analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

The company also recently disclosed 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. This represents a $4.08 annualized dividend and a yield of 7.28%. The ex-dividend date is Tuesday, March 25th. Altria Group's dividend payout ratio is currently 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.