Formidable Asset Management LLC Reduces Stock Position in Altria Group, Inc. (NYSE:MO)

Formidable Asset Management LLC lessened its stake in Altria Group, Inc. (NYSE:MO - Free Report) by 26.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,748 shares of the company's stock after selling 18,194 shares during the period. Formidable Asset Management LLC's holdings in Altria Group were worth $2,706,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Diversify Wealth Management LLC acquired a new position in shares of Altria Group during the 4th quarter worth approximately $218,000. Wesbanco Bank Inc. lifted its holdings in Altria Group by 1.8% during the fourth quarter. Wesbanco Bank Inc. now owns 38,591 shares of the company's stock valued at $2,018,000 after purchasing an additional 700 shares in the last quarter. Secure Asset Management LLC lifted its holdings in Altria Group by 13.3% during the fourth quarter. Secure Asset Management LLC now owns 11,012 shares of the company's stock valued at $576,000 after purchasing an additional 1,292 shares in the last quarter. Brighton Jones LLC grew its position in shares of Altria Group by 64.7% in the fourth quarter. Brighton Jones LLC now owns 17,702 shares of the company's stock valued at $926,000 after purchasing an additional 6,954 shares during the period. Finally, Cornerstone Wealth Management LLC increased its stake in shares of Altria Group by 10.4% during the fourth quarter. Cornerstone Wealth Management LLC now owns 52,344 shares of the company's stock worth $2,737,000 after purchasing an additional 4,932 shares in the last quarter. Institutional investors and hedge funds own 57.41% of the company's stock.

Altria Group Stock Down 0.0%

Altria Group stock traded down $0.02 during mid-day trading on Wednesday, hitting $59.61. The company had a trading volume of 1,626,622 shares, compared to its average volume of 8,640,650. The business has a fifty day moving average of $58.19 and a 200 day moving average of $55.77. Altria Group, Inc. has a 1 year low of $43.83 and a 1 year high of $61.26. The stock has a market cap of $100.40 billion, a price-to-earnings ratio of 9.10, a PEG ratio of 2.89 and a beta of 0.60.

Altria Group (NYSE:MO - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.04. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. The company had revenue of $4.52 billion during the quarter, compared to analysts' expectations of $4.64 billion. During the same period last year, the firm earned $1.15 EPS. The firm's revenue for the quarter was down 4.2% on a year-over-year basis. Equities analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Monday, June 16th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 6.85%. The ex-dividend date of this dividend is Monday, June 16th. Altria Group's payout ratio is currently 68.34%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MO. Deutsche Bank Aktiengesellschaft set a $60.00 price target on shares of Altria Group in a research note on Tuesday, April 1st. Stifel Nicolaus lifted their price objective on Altria Group from $60.00 to $63.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Wall Street Zen cut Altria Group from a "buy" rating to a "hold" rating in a report on Thursday, May 1st. Needham & Company LLC upgraded Altria Group to a "hold" rating in a report on Thursday, May 22nd. Finally, Morgan Stanley cut their price objective on shares of Altria Group from $54.00 to $53.00 and set an "equal weight" rating for the company in a research report on Friday, January 31st. Two analysts have 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. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $56.00.

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.