Cresset Asset Management LLC Sells 139,687 Shares of Altria Group, Inc. (NYSE:MO)

Cresset Asset Management LLC cut its position in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 49.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 145,547 shares of the company's stock after selling 139,687 shares during the period. Cresset Asset Management LLC's holdings in Altria Group were worth $7,732,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Crestline Management LP boosted its position in Altria Group by 26.4% during the fourth quarter. Crestline Management LP now owns 34,795 shares of the company's stock worth $1,819,000 after purchasing an additional 7,272 shares during the period. Cetera Investment Advisers lifted its stake in shares of Altria Group by 4.6% during the 4th quarter. Cetera Investment Advisers now owns 1,065,197 shares of the company's stock worth $55,699,000 after buying an additional 46,863 shares during the last quarter. BOKF NA boosted its holdings in shares of Altria Group by 4.4% during the 4th quarter. BOKF NA now owns 65,797 shares of the company's stock worth $3,347,000 after buying an additional 2,802 shares during the period. Blue Capital Inc. acquired a new position in Altria Group in the 4th quarter valued at about $325,000. Finally, Cahill Financial Advisors Inc. bought a new position in Altria Group in the 4th quarter valued at about $445,000. 57.41% of the stock is owned by institutional investors.

Altria Group Stock Up 0.7 %

Shares of Altria Group stock opened at $60.92 on Thursday. Altria Group, Inc. has a 12-month low of $43.83 and a 12-month high of $61.26. The company has a market capitalization of $102.62 billion, a price-to-earnings ratio of 9.30, a PEG ratio of 2.89 and a beta of 0.60. The firm's 50-day moving average price is $57.92 and its two-hundred day moving average price is $55.07.

Altria Group (NYSE:MO - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.19 by $0.04. The business had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.64 billion. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. The company's revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.15 earnings per share. On average, sell-side analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th were given a dividend of $1.02 per share. The ex-dividend date was Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a yield of 6.70%. Altria Group's dividend payout ratio is currently 68.34%.

Analysts Set New Price Targets

Several research firms have recently commented on MO. StockNews.com downgraded Altria Group from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Barclays upped their price objective on Altria Group from $46.00 to $49.00 and gave the company an "underweight" rating in a report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft set a $60.00 target price on Altria Group in a report on Tuesday, April 1st. Stifel Nicolaus upped their price target on shares of Altria Group from $60.00 to $63.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Finally, Morgan Stanley cut their price objective 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. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $56.00.

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.

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