Altria Group, Inc. (NYSE:MO) Shares Sold by Norden Group LLC

Key Points

• Norden Group LLC has reduced its stake in Altria Group, Inc. by 20.8%, selling 6,574 shares and now holding 25,020 shares valued at $1,502,000.
• Several institutional investors made adjustments in their positions, with notable acquisitions including Redwood Park Advisors LLC and Inlight Wealth Management LLC, reflecting a growing institutional interest in the company.
• Altria recently declared a quarterly dividend of $1.02 per share, representing an annualized dividend yield of 6.95%.

Norden Group LLC reduced its stake in Altria Group, Inc. (NYSE:MO - Free Report) by 20.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,020 shares of the company's stock after selling 6,574 shares during the period. Norden Group LLC's holdings in Altria Group were worth $1,502,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Redwood Park Advisors LLC acquired a new stake in Altria Group during the fourth quarter valued at approximately $26,000. Inlight Wealth Management LLC acquired a new stake in Altria Group during the first quarter valued at approximately $31,000. Sierra Ocean LLC lifted its stake in Altria Group by 226.3% during the first quarter. Sierra Ocean LLC now owns 509 shares of the company's stock valued at $31,000 after purchasing an additional 353 shares during the last quarter. Pinney & Scofield Inc. acquired a new stake in Altria Group during the fourth quarter valued at approximately $33,000. Finally, Bellwether Advisors LLC acquired a new stake in Altria Group during the fourth quarter valued at approximately $38,000. 57.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MO has been the subject of several research analyst reports. Citigroup upped their price target on shares of Altria Group from $52.00 to $55.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. Wall Street Zen downgraded shares of Altria Group from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Jefferies Financial Group initiated coverage on shares of Altria Group in a research report on Wednesday, July 9th. They issued an "underperform" rating and a $50.00 price target for the company. Barclays upped their price target on shares of Altria Group from $46.00 to $49.00 and gave the company an "underweight" rating in a research report on Friday, May 2nd. Finally, Needham & Company LLC upgraded shares of Altria Group to a "hold" rating in a research report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $56.75.

Altria Group Stock Performance

Altria Group stock opened at $58.73 on Tuesday. The firm has a market cap of $98.93 billion, a PE ratio of 9.84, a P/E/G ratio of 3.45 and a beta of 0.59. The firm's 50 day moving average price is $59.26 and its two-hundred day moving average price is $57.19. Altria Group, Inc. has a twelve month low of $47.57 and a twelve month high of $61.26.

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

Altria Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Monday, June 16th were paid a dividend of $1.02 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $4.08 annualized dividend and a dividend yield of 6.95%. Altria Group's dividend payout ratio (DPR) is 68.34%.

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.

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