Kingsview Wealth Management LLC Sells 73,275 Shares of Altria Group, Inc. (NYSE:MO)

Kingsview Wealth Management LLC trimmed its position in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 46.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,836 shares of the company's stock after selling 73,275 shares during the period. Kingsview Wealth Management LLC's holdings in Altria Group were worth $5,092,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of MO. Brighton Jones LLC raised its position in Altria Group by 64.7% in the fourth quarter. Brighton Jones LLC now owns 17,702 shares of the company's stock worth $926,000 after purchasing an additional 6,954 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in shares of Altria Group by 32.3% in the fourth quarter. Proficio Capital Partners LLC now owns 5,670 shares of the company's stock valued at $296,000 after purchasing an additional 1,385 shares in the last quarter. Horizon Investments LLC increased its holdings in shares of Altria Group by 3.0% in the fourth quarter. Horizon Investments LLC now owns 29,610 shares of the company's stock valued at $1,548,000 after purchasing an additional 865 shares in the last quarter. Generali Asset Management SPA SGR acquired a new stake in shares of Altria Group in the fourth quarter valued at approximately $2,523,000. Finally, VSM Wealth Advisory LLC bought a new position in Altria Group in the fourth quarter valued at approximately $29,000. 57.41% of the stock is currently owned by institutional investors.

Altria Group Price Performance

Shares of MO traded up $0.06 during trading hours on Friday, hitting $58.04. 5,686,380 shares of the stock were exchanged, compared to its average volume of 8,685,507. Altria Group, Inc. has a fifty-two week low of $47.57 and a fifty-two week high of $61.26. The business has a 50-day moving average of $59.06 and a 200-day moving average of $56.84. The firm has a market capitalization of $97.77 billion, a P/E ratio of 9.72, a price-to-earnings-growth ratio of 3.34 and a beta of 0.59.

Altria Group (NYSE:MO - Get Free Report) last posted 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. The business had revenue of $4.52 billion during the quarter, compared to analysts' expectations of $4.64 billion. Altria Group had a net margin of 43.09% and a negative return on equity of 295.44%. The business's quarterly revenue was down 4.2% on a year-over-year basis. During the same period last year, the company posted $1.15 earnings per share. As a group, analysts forecast 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 given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.03%. The ex-dividend date of this dividend was Monday, June 16th. Altria Group's payout ratio is currently 68.34%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MO. Deutsche Bank Aktiengesellschaft set a $60.00 price target on shares of Altria Group in a research report on Tuesday, April 1st. Barclays lifted their price target on shares of Altria Group from $46.00 to $49.00 and gave the company an "underweight" rating in a research note on Friday, May 2nd. Wall Street Zen lowered shares of Altria Group from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. 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 note on Friday, April 25th. Finally, Jefferies Financial Group assumed coverage on shares of Altria Group in a research note on Wednesday, July 9th. They issued an "underperform" rating and a $50.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Altria Group presently 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.