Edgestream Partners L.P. Sells 7,222 Shares of Altria Group, Inc. (NYSE:MO)

Edgestream Partners L.P. lessened its stake in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 33.7% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 14,240 shares of the company's stock after selling 7,222 shares during the quarter. Edgestream Partners L.P.'s holdings in Altria Group were worth $855,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Redwood Park Advisors LLC bought a new position in Altria Group in the 4th quarter valued at about $26,000. Inlight Wealth Management LLC bought a new stake in Altria Group during the 1st quarter worth approximately $31,000. Sierra Ocean LLC grew its holdings in Altria Group by 226.3% during the 1st quarter. Sierra Ocean LLC now owns 509 shares of the company's stock worth $31,000 after acquiring an additional 353 shares during the last quarter. Pinney & Scofield Inc. bought a new stake in shares of Altria Group in the 4th quarter valued at $33,000. Finally, Bellwether Advisors LLC bought a new stake in shares of Altria Group in the 4th quarter valued at $38,000. Institutional investors and hedge funds own 57.41% of the company's stock.

Altria Group Stock Up 0.6%

NYSE:MO traded up $0.35 during mid-day trading on Wednesday, hitting $59.79. 7,170,099 shares of the stock traded hands, compared to its average volume of 8,697,749. The business's 50-day moving average price is $59.22 and its 200 day moving average price is $56.95. The company has a market cap of $100.71 billion, a PE ratio of 10.02, a price-to-earnings-growth ratio of 3.42 and a beta of 0.59. Altria Group, Inc. has a 12-month low of $47.57 and a 12-month high of $61.26.

Altria Group (NYSE:MO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $1.23 EPS for the quarter, topping analysts' consensus estimates of $1.19 by $0.04. Altria Group had a net margin of 43.09% and a negative return on equity of 295.44%. The business had revenue of $4.52 billion during the quarter, compared to analysts' expectations of $4.64 billion. During the same quarter in the previous year, the company earned $1.15 EPS. The business's quarterly revenue was down 4.2% compared to the same quarter last year. Analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Monday, June 16th were issued a dividend of $1.02 per share. The ex-dividend date was Monday, June 16th. This represents a $4.08 dividend on an annualized basis and a yield of 6.82%. Altria Group's dividend payout ratio is currently 68.34%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on shares of Altria Group in a research report on Tuesday, April 1st. Citigroup lifted their price objective on shares of Altria Group from $52.00 to $55.00 and gave the company a "neutral" rating in a report on Friday, April 25th. Barclays increased their target price on shares of Altria Group from $46.00 to $49.00 and gave the company an "underweight" rating in a report on Friday, May 2nd. Needham & Company LLC upgraded shares of Altria Group to a "hold" rating in a report on Thursday, May 22nd. Finally, Jefferies Financial Group initiated coverage on shares of Altria Group in a report on Wednesday, July 9th. They set an "underperform" rating and a $50.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $56.75.

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.