Great Lakes Advisors LLC Decreases Stock Holdings in Altria Group, Inc. (NYSE:MO)

Great Lakes Advisors LLC lessened its stake in Altria Group, Inc. (NYSE:MO) by 4.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,792 shares of the company’s stock after selling 657 shares during the quarter. Great Lakes Advisors LLC’s holdings in Altria Group were worth $669,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in MO. Financial Life Planners purchased a new position in shares of Altria Group in the fourth quarter valued at approximately $25,000. True Wealth Design LLC lifted its holdings in Altria Group by 420.0% in the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock valued at $29,000 after purchasing an additional 462 shares in the last quarter. Marshall Investment Management LLC acquired a new stake in Altria Group during the 4th quarter worth $32,000. Promus Capital LLC purchased a new stake in shares of Altria Group during the fourth quarter worth $33,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Altria Group in the third quarter valued at about $34,000. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Altria Group Stock Performance

Shares of Altria Group stock opened at $58.97 on Monday. The stock has a 50 day moving average of $53.75 and a 200 day moving average of $53.31. The firm has a market capitalization of $99.70 billion, a price-to-earnings ratio of 9.00, a PEG ratio of 2.89 and a beta of 0.56. Altria Group, Inc. has a fifty-two week low of $40.65 and a fifty-two week high of $59.67.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.29 earnings per share for the quarter, topping 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 forecast that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, March 25th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 6.92%. The ex-dividend date is Tuesday, March 25th. Altria Group’s dividend payout ratio is presently 62.29%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. 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. Bank of America raised Altria Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $55.00 to $65.00 in a report on Friday, December 6th. Two 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’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $53.29.

About Altria Group

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.