Sentry Investment Management LLC cut its holdings in Altria Group, Inc. (NYSE:MO – Free Report) by 14.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 15,139 shares of the company’s stock after selling 2,464 shares during the period. Sentry Investment Management LLC’s holdings in Altria Group were worth $792,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in MO. Financial Life Planners bought a new stake in Altria Group in the fourth quarter worth approximately $25,000. True Wealth Design LLC grew its position in shares of Altria Group by 420.0% during the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after buying an additional 462 shares during the period. Legacy Investment Solutions LLC bought a new stake in shares of Altria Group in the 3rd quarter valued at $34,000. Marshall Investment Management LLC bought a new stake in shares of Altria Group in the 4th quarter valued at $32,000. Finally, Kestra Investment Management LLC acquired a new position in shares of Altria Group during the 4th quarter valued at $40,000. 57.41% of the stock is owned by institutional investors and hedge funds.
Altria Group Trading Up 0.2 %
NYSE MO opened at $55.15 on Tuesday. The firm has a market capitalization of $93.46 billion, a P/E ratio of 8.42, a PEG ratio of 2.89 and a beta of 0.64. The business has a fifty day simple moving average of $52.62 and a 200 day simple moving average of $52.78. Altria Group, Inc. has a 12 month low of $39.25 and a 12 month high of $58.03.
Altria Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, December 26th were paid 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 dividend yield of 7.40%. Altria Group’s payout ratio is presently 62.29%.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on the stock. Barclays raised their price target on shares of Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and raised their target price for the company from $55.00 to $65.00 in a research note on Friday, December 6th. Deutsche Bank Aktiengesellschaft increased their price target on Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Morgan Stanley decreased their price objective on Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Finally, Stifel Nicolaus upped their price objective 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. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $53.29.
View Our Latest Report on Altria Group
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.
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