Altria Group, Inc. (NYSE:MO) Stock Holdings Lowered by Formidable Asset Management LLC

Formidable Asset Management LLC lessened its position in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 26.0% in the 4th quarter, according to its most recent filing with the Securities & 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 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Life Planners purchased a new position in Altria Group during the 4th quarter worth $25,000. Redwood Park Advisors LLC purchased a new position in Altria Group during the 4th quarter valued at about $26,000. VSM Wealth Advisory LLC acquired a new stake in shares of Altria Group during the 4th quarter worth about $29,000. Marshall Investment Management LLC acquired a new stake in shares of Altria Group during the 4th quarter worth about $32,000. Finally, Promus Capital LLC acquired a new stake in shares of Altria Group during the 4th quarter worth about $33,000. Institutional investors and hedge funds own 57.41% of the company's stock.

Analyst Upgrades and Downgrades

MO has been the topic of several research analyst reports. UBS Group raised their target price on shares of Altria Group from $46.00 to $47.00 and gave the stock a "sell" rating in a research report on Wednesday, April 30th. Barclays boosted their price objective 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. Deutsche Bank Aktiengesellschaft set a $60.00 target price on shares of Altria Group in a research report on Tuesday, April 1st. Stifel Nicolaus boosted their target price on shares of Altria Group from $60.00 to $63.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Finally, Needham & Company LLC raised shares of Altria Group to a "hold" rating in a research report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $56.00.

Altria Group Price Performance

MO traded down $0.13 during trading on Tuesday, hitting $59.61. The company had a trading volume of 5,212,262 shares, compared to its average volume of 8,668,338. The company has a market cap of $100.41 billion, a PE ratio of 9.10, a P/E/G ratio of 2.89 and a beta of 0.60. The business has a 50-day moving average of $58.16 and a 200-day moving average of $55.75. Altria Group, Inc. has a 1-year low of $43.83 and a 1-year high of $61.26.

Altria Group (NYSE:MO - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.04. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. The firm had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the previous year, the firm earned $1.15 earnings per share. The firm's revenue for the quarter was down 4.2% compared to the same quarter last year. Research analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Monday, June 16th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.08 annualized dividend and a dividend yield of 6.84%. Altria Group's dividend payout ratio is currently 68.34%.

Altria Group Company 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.