Formidable Asset Management LLC Has $2.75 Million Position in Altria Group, Inc. (NYSE:MO)

Formidable Asset Management LLC decreased its position in Altria Group, Inc. (NYSE:MO - Free Report) by 11.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 45,886 shares of the company's stock after selling 5,862 shares during the period. Formidable Asset Management LLC's holdings in Altria Group were worth $2,754,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Redwood Park Advisors LLC bought a new position in Altria Group in the fourth quarter valued at approximately $26,000. VSM Wealth Advisory LLC acquired a new stake in shares of Altria Group during the fourth quarter worth $29,000. Inlight Wealth Management LLC acquired a new stake in shares of Altria Group during the first quarter worth $31,000. Sierra Ocean LLC lifted its position in Altria Group by 226.3% in the 1st quarter. Sierra Ocean LLC now owns 509 shares of the company's stock valued at $31,000 after acquiring an additional 353 shares in the last quarter. Finally, Pinney & Scofield Inc. acquired a new position in Altria Group in the 4th quarter worth $33,000. Institutional investors own 57.41% of the company's stock.

Altria Group Stock Up 0.1%

Shares of Altria Group stock traded up $0.06 on Friday, hitting $58.04. The stock had a trading volume of 5,686,380 shares, compared to its average volume of 8,685,507. The stock has a market cap of $97.77 billion, a price-to-earnings ratio of 9.72, a price-to-earnings-growth ratio of 3.34 and a beta of 0.59. Altria Group, Inc. has a twelve month low of $47.57 and a twelve month high of $61.26. The business's 50 day moving average is $59.06 and its two-hundred day moving average is $56.84.

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 firm 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 business's revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.15 EPS. As a group, equities analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Monday, June 16th were paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 7.03%. The ex-dividend date of this dividend was Monday, June 16th. Altria Group's payout ratio is 68.34%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MO shares. Stifel Nicolaus boosted their target price on Altria Group from $60.00 to $63.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Jefferies Financial Group started coverage on shares of Altria Group in a research report on Wednesday, July 9th. They issued an "underperform" rating and a $50.00 price objective on the stock. Deutsche Bank Aktiengesellschaft set a $60.00 target price on shares of Altria Group in a report on Tuesday, April 1st. UBS Group upgraded shares of Altria Group from a "sell" rating to a "neutral" rating and lifted their price target for the company from $47.00 to $59.00 in a research note on Wednesday, July 2nd. Finally, Wall Street Zen downgraded shares of Altria Group from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $56.75.

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.