Prossimo Advisors LLC Lowers Stake in Altria Group, Inc. (NYSE:MO)

Prossimo Advisors LLC cut its stake in Altria Group, Inc. (NYSE:MO) by 3.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,408 shares of the company’s stock after selling 313 shares during the period. Prossimo Advisors LLC’s holdings in Altria Group were worth $440,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Aviance Capital Partners LLC raised its stake in Altria Group by 0.5% in the third quarter. Aviance Capital Partners LLC now owns 40,362 shares of the company’s stock worth $2,060,000 after buying an additional 191 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 worth $681,000 after acquiring an additional 198 shares during the last quarter. Fragasso Financial Advisors Inc increased 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 in the last quarter. American Institute for Advanced Investment Management LLP raised its position in shares of Altria Group by 3.5% in the 3rd quarter. American Institute for Advanced Investment Management LLP now owns 5,860 shares of the company’s stock worth $299,000 after purchasing an additional 200 shares during the last quarter. Finally, Ridgecrest Wealth Partners LLC boosted its stake in Altria Group by 3.5% in the 3rd quarter. Ridgecrest Wealth Partners LLC now owns 5,851 shares of the company’s stock worth $299,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 57.41% of the company’s stock.

Altria Group Stock Down 1.1 %

Altria Group stock opened at $52.70 on Wednesday. Altria Group, Inc. has a 52-week low of $39.25 and a 52-week high of $58.03. The company has a market cap of $89.31 billion, a P/E ratio of 8.05, a P/E/G ratio of 2.83 and a beta of 0.64. The business has a 50-day simple moving average of $52.65 and a two-hundred day simple moving average of $52.65.

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

Altria Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Thursday, December 26th were issued a $1.02 dividend. 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 7.74%. Altria Group’s dividend payout ratio is currently 62.29%.

Analyst Ratings Changes

MO has been the subject of several recent analyst reports. Morgan Stanley decreased their target price on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Barclays upped their price objective on Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. Stifel Nicolaus lifted their target price on Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and lifted their price objective for the stock 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 assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Altria Group has a consensus 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.