Janney Montgomery Scott LLC Cuts Stake in Altria Group, Inc. (NYSE:MO)

Janney Montgomery Scott LLC lessened its stake in Altria Group, Inc. (NYSE:MO) by 1.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 918,085 shares of the company’s stock after selling 9,222 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.05% of Altria Group worth $48,007,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. True Wealth Design LLC lifted its stake in Altria Group by 420.0% in 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 purchased a new stake in shares of Altria Group in the third quarter worth about $34,000. Peterson Financial Group Inc. bought a new position in Altria Group during the third quarter valued at approximately $41,000. Fairman Group LLC grew its holdings in Altria Group by 85.1% during the 3rd quarter. Fairman Group LLC now owns 892 shares of the company’s stock valued at $46,000 after buying an additional 410 shares in the last quarter. Finally, IFS Advisors LLC increased its stake in Altria Group by 330.4% in the 4th quarter. IFS Advisors LLC now owns 977 shares of the company’s stock worth $51,000 after acquiring an additional 750 shares during the last quarter. Institutional investors own 57.41% of the company’s stock.

Altria Group Stock Performance

MO opened at $51.17 on Friday. The stock’s 50 day moving average price is $54.10 and its 200-day moving average price is $52.10. Altria Group, Inc. has a one year low of $39.25 and a one year high of $58.03. The stock has a market cap of $86.72 billion, a price-to-earnings ratio of 8.64, a P/E/G ratio of 2.70 and a beta of 0.64.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.35 by $0.03. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. The company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $5.33 billion. During the same quarter in the prior year, the company posted $1.28 EPS. Altria Group’s quarterly revenue was up 18.6% on a year-over-year basis. As a group, analysts predict that Altria Group, Inc. will post 5.13 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 26th were given a $1.02 dividend. The ex-dividend date was Thursday, December 26th. This represents a $4.08 annualized dividend and a yield of 7.97%. Altria Group’s dividend payout ratio (DPR) is 68.92%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Stifel Nicolaus lifted their price objective on shares of Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Barclays increased their price target on shares of Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a report on Wednesday, November 6th. Finally, Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and upped their price objective for the company from $55.00 to $65.00 in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $53.43.

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.