Altria Group, Inc. (NYSE:MO) Shares Sold by Avantax Planning Partners Inc.

Avantax Planning Partners Inc. cut its holdings in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 4.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,348 shares of the company's stock after selling 4,560 shares during the period. Avantax Planning Partners Inc.'s holdings in Altria Group were worth $6,623,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Redwood Park Advisors LLC purchased a new stake in shares of Altria Group during the fourth quarter worth $26,000. Inlight Wealth Management LLC acquired a new position in Altria Group during the 1st quarter worth $31,000. VSM Wealth Advisory LLC acquired a new position in Altria Group during the 4th quarter worth $29,000. Promus Capital LLC acquired a new position in Altria Group during the 4th quarter worth $33,000. Finally, Pinney & Scofield Inc. acquired a new position in Altria Group during the 4th quarter worth $33,000. Institutional investors and hedge funds own 57.41% of the company's stock.

Altria Group Price Performance

Shares of MO traded up $0.58 during mid-day trading on Monday, reaching $60.23. 7,375,416 shares of the company's stock were exchanged, compared to its average volume of 8,576,291. The stock has a market capitalization of $101.45 billion, a PE ratio of 10.09, a price-to-earnings-growth ratio of 3.49 and a beta of 0.59. The business's fifty day simple moving average is $59.28 and its 200-day simple moving average is $56.47. Altria Group, Inc. has a 52-week low of $45.87 and a 52-week high of $61.26.

Altria Group (NYSE:MO - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $1.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.19 by $0.04. The business 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 period last year, the firm posted $1.15 earnings per share. Equities research analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Monday, June 16th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 6.77%. The ex-dividend date of this dividend is Monday, June 16th. Altria Group's dividend payout ratio is presently 68.34%.

Analyst Ratings Changes

A number of analysts recently weighed in on MO shares. Deutsche Bank Aktiengesellschaft set a $60.00 target price on shares of Altria Group in a research note on Tuesday, April 1st. Barclays upped their target price on shares of Altria Group from $46.00 to $49.00 and gave the stock an "underweight" rating in a research note on Friday, May 2nd. Needham & Company LLC raised shares of Altria Group to a "hold" rating in a report on Thursday, May 22nd. Wall Street Zen cut shares of Altria Group from a "buy" rating to a "hold" rating in a report on Thursday, May 1st. Finally, Stifel Nicolaus lifted their price target on shares of Altria Group from $60.00 to $63.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $57.71.

About Altria Group

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.