Altria Group, Inc. (NYSE:MO) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its stake in Altria Group, Inc. (NYSE:MO - Free Report) by 5.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 337,413 shares of the company's stock after selling 21,205 shares during the quarter. State of Alaska Department of Revenue's holdings in Altria Group were worth $17,220,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Kavar Capital Partners Group LLC raised its position in Altria Group by 0.8% during the 3rd quarter. Kavar Capital Partners Group LLC now owns 31,935 shares of the company's stock worth $1,630,000 after buying an additional 250 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in Altria Group by 7.9% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 388,836 shares of the company's stock worth $19,861,000 after buying an additional 28,451 shares during the last quarter. Modera Wealth Management LLC raised its position in Altria Group by 10.0% during the 3rd quarter. Modera Wealth Management LLC now owns 21,461 shares of the company's stock worth $1,095,000 after buying an additional 1,953 shares during the last quarter. MCF Advisors LLC raised its position in Altria Group by 8.4% during the 3rd quarter. MCF Advisors LLC now owns 14,120 shares of the company's stock worth $734,000 after buying an additional 1,098 shares during the last quarter. Finally, Pathway Financial Advisers LLC raised its position in Altria Group by 3,341.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 65,532 shares of the company's stock worth $3,345,000 after buying an additional 63,628 shares during the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Stock Performance

Altria Group stock traded down $0.23 during trading on Friday, reaching $49.71. The company had a trading volume of 5,325,545 shares, compared to its average volume of 9,847,107. The firm's 50-day simple moving average is $51.42 and its 200 day simple moving average is $48.11. Altria Group, Inc. has a 1-year low of $39.06 and a 1-year high of $54.95. The firm has a market capitalization of $85.38 billion, a PE ratio of 10.40, a price-to-earnings-growth ratio of 2.89 and a beta of 0.65.

Altria Group (NYSE:MO - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The company reported $1.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.35 by ($0.04). Altria Group had a net margin of 42.25% and a negative return on equity of 232.55%. The company had revenue of $6.21 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same period in the prior year, the business posted $1.31 EPS. Altria Group's revenue was up 14.2% compared to the same quarter last year. Analysts anticipate that Altria Group, Inc. will post 5.11 EPS for the current year.

Altria Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 16th were paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 8.21%. The ex-dividend date of this dividend was Monday, September 16th. This is a boost from Altria Group's previous quarterly dividend of $0.98. Altria Group's payout ratio is 85.36%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Bank of America reduced their price target on shares of Altria Group from $57.00 to $53.00 and set a "neutral" rating for the company in a research report on Tuesday, October 15th. Citigroup raised their price objective on shares of Altria Group from $44.50 to $48.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 8th. UBS Group raised their price objective on shares of Altria Group from $39.00 to $41.00 and gave the stock a "sell" rating in a research note on Monday, September 9th. StockNews.com cut shares of Altria Group from a "buy" rating to a "hold" rating in a research note on Tuesday, October 8th. Finally, Barclays raised their price objective on shares of Altria Group from $43.00 to $45.00 and gave the stock an "underweight" rating in a research note on Monday, September 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $48.20.

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.