First Horizon Advisors Inc. Cuts Stock Position in Altria Group, Inc. (NYSE:MO)

First Horizon Advisors Inc. trimmed its stake in shares of Altria Group, Inc. (NYSE:MO) by 8.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,101 shares of the company’s stock after selling 2,085 shares during the period. First Horizon Advisors Inc.’s holdings in Altria Group were worth $1,156,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Aviance Capital Partners LLC lifted its stake in Altria Group by 0.5% in the 3rd 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. Horst & Graben Wealth Management LLC raised its holdings in shares of Altria Group by 1.5% during the fourth quarter. Horst & Graben Wealth Management LLC now owns 13,015 shares of the company’s stock valued at $681,000 after acquiring an additional 198 shares during the last quarter. Fragasso Financial Advisors Inc raised its holdings in shares of Altria Group by 3.3% during the fourth quarter. Fragasso Financial Advisors Inc now owns 6,302 shares of the company’s stock valued at $330,000 after acquiring an additional 199 shares during the last quarter. Ridgecrest Wealth Partners LLC lifted its position in shares of Altria Group by 3.5% in the third quarter. Ridgecrest Wealth Partners LLC now owns 5,851 shares of the company’s stock valued at $299,000 after acquiring an additional 200 shares in the last quarter. Finally, First Citizens Financial Corp boosted its stake in shares of Altria Group by 4.8% in the fourth quarter. First Citizens Financial Corp now owns 4,402 shares of the company’s stock worth $230,000 after acquiring an additional 200 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 opened at $55.01 on Monday. The company has a market capitalization of $93.22 billion, a price-to-earnings ratio of 8.40, a price-to-earnings-growth ratio of 2.89 and a beta of 0.64. Altria Group, Inc. has a 1 year low of $39.25 and a 1 year high of $58.03. The company’s 50 day simple moving average is $52.61 and its 200-day simple moving average is $52.75.

Altria Group (NYSE:MO) last released its quarterly 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%. Equities analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 26th were paid a dividend of $1.02 per share. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $4.08 dividend on an annualized basis and a yield of 7.42%. Altria Group’s dividend payout ratio (DPR) is presently 62.29%.

Analysts Set New Price Targets

Several research analysts recently commented on MO shares. Barclays increased their price objective on Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Morgan Stanley lowered their price target on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Stifel Nicolaus upped their price objective on shares of Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock 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.