Financial Partners Group LLC Has $2.67 Million Holdings in Altria Group, Inc. (NYSE:MO)

Financial Partners Group LLC cut its stake in Altria Group, Inc. (NYSE:MO - Free Report) by 11.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,478 shares of the company's stock after selling 5,490 shares during the period. Altria Group accounts for about 1.2% of Financial Partners Group LLC's investment portfolio, making the stock its 24th biggest position. Financial Partners Group LLC's holdings in Altria Group were worth $2,670,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of MO. Raymond James Financial Inc. acquired a new stake in shares of Altria Group during the 4th quarter worth approximately $137,536,000. Charles Schwab Investment Management Inc. lifted its holdings in Altria Group by 4.0% in the fourth 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 period. GAMMA Investing LLC boosted its stake in Altria Group by 6,969.4% in the first quarter. GAMMA Investing LLC now owns 2,162,401 shares of the company's stock valued at $129,787,000 after acquiring an additional 2,131,813 shares during the last quarter. Castlekeep Investment Advisors LLC acquired a new stake in Altria Group during the 4th quarter worth $91,000. Finally, Northern Trust Corp raised its position in shares of Altria Group by 9.6% during the 4th quarter. Northern Trust Corp now owns 16,432,535 shares of the company's stock valued at $859,257,000 after acquiring an additional 1,444,021 shares during the last quarter. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MO. Needham & Company LLC upgraded Altria Group to a "hold" rating in a research report on Thursday, May 22nd. Wall Street Zen downgraded Altria Group from a "buy" rating to a "hold" rating in a report on Thursday, May 1st. Barclays lifted their price objective on Altria Group from $46.00 to $49.00 and gave the company an "underweight" rating in a report on Friday, May 2nd. Stifel Nicolaus increased their target price on Altria Group from $60.00 to $63.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Finally, Citigroup raised their target price on shares of Altria Group from $52.00 to $55.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Altria Group presently has a consensus rating of "Hold" and an average price target of $56.00.

Altria Group Stock Performance

Shares of Altria Group stock opened at $58.97 on Wednesday. The firm has a market cap of $99.33 billion, a PE ratio of 9.88, a P/E/G ratio of 3.43 and a beta of 0.60. The business's 50 day simple moving average is $58.86 and its 200 day simple moving average is $56.12. Altria Group, Inc. has a 52-week low of $44.41 and a 52-week high of $61.26.

Altria Group (NYSE:MO - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.04. The company 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 business earned $1.15 EPS. As a group, equities research analysts predict that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Monday, June 16th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 6.92%. Altria Group's dividend payout ratio is 68.34%.

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.

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