CMG Global Holdings LLC Sells 4,465 Shares of Altria Group, Inc. (NYSE:MO)

CMG Global Holdings LLC lowered its stake in Altria Group, Inc. (NYSE:MO - Free Report) by 12.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,884 shares of the company's stock after selling 4,465 shares during the period. Altria Group accounts for about 1.2% of CMG Global Holdings LLC's holdings, making the stock its 25th largest holding. CMG Global Holdings LLC's holdings in Altria Group were worth $1,813,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in Altria Group during the fourth quarter valued at approximately $137,536,000. Charles Schwab Investment Management Inc. raised its stake in Altria Group by 4.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 59,805,286 shares of the company's stock valued at $3,127,218,000 after buying an additional 2,296,972 shares during the last quarter. GAMMA Investing LLC raised its stake in Altria Group by 6,969.4% during the 1st quarter. GAMMA Investing LLC now owns 2,162,401 shares of the company's stock valued at $129,787,000 after buying an additional 2,131,813 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new position in shares of Altria Group during the 4th quarter valued at $91,000. Finally, Northern Trust Corp boosted its stake in shares of Altria Group by 9.6% in the 4th quarter. Northern Trust Corp now owns 16,432,535 shares of the company's stock worth $859,257,000 after buying an additional 1,444,021 shares during the last quarter. Hedge funds and other institutional investors own 57.41% of the company's stock.

Analyst Upgrades and Downgrades

MO has been the subject of several research reports. Wall Street Zen lowered shares of Altria Group from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Stifel Nicolaus upped their target price on shares of Altria Group from $60.00 to $63.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Barclays increased their price target on shares of Altria Group from $46.00 to $49.00 and gave the stock an "underweight" rating in a research report on Friday, May 2nd. Needham & Company LLC raised shares of Altria Group to a "hold" rating in a research report on Thursday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft set a $60.00 price objective on Altria Group in a research note on Tuesday, April 1st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Altria Group presently has a consensus rating of "Hold" and a consensus price target of $56.00.

Altria Group Stock Up 0.0%

Shares of Altria Group stock opened at $58.81 on Monday. The company has a market capitalization of $99.07 billion, a price-to-earnings ratio of 9.85, a PEG ratio of 3.44 and a beta of 0.61. The stock's 50-day simple moving average is $59.22 and its 200-day simple moving average is $56.30. Altria Group, Inc. has a 52 week low of $45.73 and a 52 week high of $61.26.

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. Altria Group had a negative return on equity of 295.44% and a net margin of 43.09%. The company had revenue of $4.52 billion for the quarter, compared to analysts' expectations of $4.64 billion. During the same period in the previous year, the firm earned $1.15 EPS. The firm's revenue was down 4.2% compared to the same quarter last year. On average, equities analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Monday, June 16th will be paid a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 6.94%. The ex-dividend date of this dividend is Monday, June 16th. Altria Group's payout ratio is currently 68.34%.

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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