Ieq Capital LLC Sells 27,608 Shares of Altria Group, Inc. (NYSE:MO)

Ieq Capital LLC decreased its position in Altria Group, Inc. (NYSE:MO) by 36.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,597 shares of the company’s stock after selling 27,608 shares during the quarter. Ieq Capital LLC’s holdings in Altria Group were worth $2,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Financial Sense Advisors Inc. boosted its stake in shares of Altria Group by 51.5% in the 4th quarter. Financial Sense Advisors Inc. now owns 91,624 shares of the company’s stock valued at $4,791,000 after purchasing an additional 31,146 shares in the last quarter. Private Advisor Group LLC grew its stake in shares of Altria Group by 3.4% during the fourth quarter. Private Advisor Group LLC now owns 181,325 shares of the company’s stock valued at $9,481,000 after buying an additional 5,958 shares during the last quarter. Convergence Investment Partners LLC increased its holdings in shares of Altria Group by 23.3% in the fourth quarter. Convergence Investment Partners LLC now owns 95,244 shares of the company’s stock worth $4,980,000 after buying an additional 17,985 shares during the period. Plan Group Financial LLC boosted its holdings in Altria Group by 10.4% during the 4th quarter. Plan Group Financial LLC now owns 23,436 shares of the company’s stock valued at $1,225,000 after acquiring an additional 2,213 shares during the period. Finally, Bank of Jackson Hole Trust bought a new position in Altria Group during the 4th quarter worth approximately $286,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Stock Performance

Shares of NYSE MO opened at $55.01 on Monday. Altria Group, Inc. has a fifty-two week low of $39.25 and a fifty-two week high of $58.03. The company has a market cap of $93.22 billion, a price-to-earnings ratio of 8.40, a PEG ratio of 2.89 and a beta of 0.64. The business’s 50 day moving average price is $52.61 and its 200-day moving average price is $52.75.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, January 30th. The company reported $1.29 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%. Sell-side analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus raised their price target on shares of Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Morgan Stanley reduced their price target on Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft increased their price objective on Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Bank of America raised Altria Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $55.00 to $65.00 in a research note on Friday, December 6th. Finally, StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.