Gardner Russo & Quinn LLC Sells 19,272 Shares of Altria Group, Inc. (NYSE:MO)

Gardner Russo & Quinn LLC decreased its position in Altria Group, Inc. (NYSE:MO - Free Report) by 6.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 269,826 shares of the company's stock after selling 19,272 shares during the period. Altria Group accounts for 0.2% of Gardner Russo & Quinn LLC's investment portfolio, making the stock its 21st biggest holding. Gardner Russo & Quinn LLC's holdings in Altria Group were worth $14,109,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. Financial Life Planners purchased a new stake in Altria Group during the fourth quarter worth about $25,000. True Wealth Design LLC grew its position in shares of Altria Group by 420.0% during the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company's stock valued at $29,000 after acquiring an additional 462 shares during the period. VSM Wealth Advisory LLC purchased a new stake in shares of Altria Group during the 4th quarter worth approximately $29,000. Marshall Investment Management LLC bought a new stake in shares of Altria Group in the 4th quarter worth approximately $32,000. Finally, Promus Capital LLC purchased a new position in Altria Group in the fourth quarter valued at approximately $33,000. Institutional investors own 57.41% of the company's stock.

Altria Group Price Performance

NYSE MO traded up $1.96 during trading on Monday, reaching $60.11. The company's stock had a trading volume of 13,073,467 shares, compared to its average volume of 8,881,131. The stock has a market capitalization of $101.62 billion, a PE ratio of 9.18, a P/E/G ratio of 2.89 and a beta of 0.56. The firm has a fifty day moving average of $55.07 and a 200 day moving average of $53.60. Altria Group, Inc. has a one year low of $40.65 and a one year high of $60.16.

Remove Ads

Altria Group (NYSE:MO - Get Free Report) last announced its earnings results on Thursday, January 30th. The company reported $1.29 earnings per share for the quarter, beating 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%. Research analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

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 paid a $1.02 dividend. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a yield of 6.79%. Altria Group's dividend payout ratio is presently 62.29%.

Wall Street Analyst Weigh In

MO has been the topic of a number of analyst reports. Morgan Stanley lowered 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. Bank of America upgraded Altria Group from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $55.00 to $65.00 in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $53.29.

Altria Group 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.