Altria Group, Inc. (NYSE:MO) Stock Holdings Trimmed by ProVise Management Group LLC

ProVise Management Group LLC lowered its stake in Altria Group, Inc. (NYSE:MO - Free Report) by 15.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,737 shares of the company's stock after selling 6,915 shares during the quarter. ProVise Management Group LLC's holdings in Altria Group were worth $1,973,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Truvestments Capital LLC grew its stake in shares of Altria Group by 4.3% in the fourth quarter. Truvestments Capital LLC now owns 4,581 shares of the company's stock valued at $240,000 after buying an additional 190 shares in the last quarter. Aviance Capital Partners LLC grew its stake in shares of Altria Group by 0.5% in the third quarter. Aviance Capital Partners LLC now owns 40,362 shares of the company's stock valued at $2,060,000 after buying an additional 191 shares in the last quarter. Enterprise Financial Services Corp grew its stake in shares of Altria Group by 4.0% in the fourth quarter. Enterprise Financial Services Corp now owns 5,052 shares of the company's stock valued at $264,000 after buying an additional 194 shares in the last quarter. Horst & Graben Wealth Management LLC grew its stake in shares of Altria Group by 1.5% in the fourth quarter. Horst & Graben Wealth Management LLC now owns 13,015 shares of the company's stock valued at $681,000 after buying an additional 198 shares in the last quarter. Finally, Fragasso Financial Advisors Inc grew its stake in shares of Altria Group by 3.3% in the fourth quarter. Fragasso Financial Advisors Inc now owns 6,302 shares of the company's stock valued at $330,000 after buying an additional 199 shares in the last quarter. Institutional investors and hedge funds own 57.41% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MO shares. Bank of America upgraded Altria Group from a "neutral" rating to a "buy" rating and raised their price objective for the company from $55.00 to $65.00 in a research note on Friday, December 6th. Morgan Stanley lowered their price objective on Altria Group from $54.00 to $53.00 and set an "equal weight" rating for the company in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Altria Group currently has a consensus rating of "Hold" and a consensus target price of $53.29.

Altria Group Stock Down 1.1 %

NYSE:MO traded down $0.63 during trading hours on Friday, reaching $57.46. 33,829,726 shares of the stock were exchanged, compared to its average volume of 8,533,818. The firm has a 50 day simple moving average of $54.42 and a 200-day simple moving average of $53.47. Altria Group, Inc. has a 52 week low of $40.65 and a 52 week high of $59.67. The stock has a market capitalization of $97.14 billion, a P/E ratio of 8.77, a P/E/G ratio of 2.89 and a beta of 0.56.

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

Altria Group Announces Dividend

The business also recently declared 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 dividend yield of 7.10%. The ex-dividend date of this dividend is Tuesday, March 25th. Altria Group's dividend payout ratio (DPR) is 62.29%.

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.