Lowe Brockenbrough & Co. Inc. Has $2.85 Million Stock Position in Altria Group, Inc. (NYSE:MO)

Lowe Brockenbrough & Co. Inc. cut its holdings in Altria Group, Inc. (NYSE:MO) by 2.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,519 shares of the company’s stock after selling 1,316 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in Altria Group were worth $2,853,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MO. Financial Life Planners bought a new position in shares of Altria Group in the fourth quarter worth about $25,000. VSM Wealth Advisory LLC bought a new stake in shares of Altria Group during the 4th quarter valued at approximately $29,000. True Wealth Design LLC increased its position in 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 purchasing an additional 462 shares in the last quarter. Legacy Investment Solutions LLC bought a new position in Altria Group in the 3rd quarter valued at approximately $34,000. Finally, Marshall Investment Management LLC acquired a new stake in Altria Group in the fourth quarter valued at approximately $32,000. 57.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MO has been the topic of a number of research reports. Morgan Stanley decreased their target price on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Bank of America raised Altria Group from a “neutral” rating to a “buy” rating and raised their price objective 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 assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $53.29.

Altria Group Stock Performance

Shares of NYSE:MO opened at $58.09 on Friday. The firm has a market cap of $98.21 billion, a PE ratio of 8.87, a price-to-earnings-growth ratio of 2.89 and a beta of 0.56. Altria Group, Inc. has a 52 week low of $40.65 and a 52 week high of $59.67. The firm’s fifty day moving average is $54.29 and its 200-day moving average is $53.45.

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

Altria Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, March 25th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.02%. The ex-dividend date is Tuesday, March 25th. Altria Group’s payout ratio is 62.29%.

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.