RKL Wealth Management LLC Sells 14,914 Shares of Altria Group, Inc. (NYSE:MO)

RKL Wealth Management LLC trimmed its position in Altria Group, Inc. (NYSE:MO - Free Report) by 29.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,523 shares of the company's stock after selling 14,914 shares during the period. RKL Wealth Management LLC's holdings in Altria Group were worth $2,192,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MO. Vista Investment Partners II LLC raised its holdings in Altria Group by 4.2% in the 1st quarter. Vista Investment Partners II LLC now owns 4,302 shares of the company's stock worth $258,000 after purchasing an additional 174 shares in the last quarter. St. Johns Investment Management Company LLC grew its position in shares of Altria Group by 37.8% in the 1st quarter. St. Johns Investment Management Company LLC now owns 689 shares of the company's stock worth $41,000 after buying an additional 189 shares during the period. Truvestments Capital LLC increased its stake in shares of Altria Group by 4.3% in the 4th quarter. Truvestments Capital LLC now owns 4,581 shares of the company's stock worth $240,000 after acquiring an additional 190 shares in the last quarter. Enterprise Financial Services Corp boosted its position in shares of Altria Group by 4.0% in the 4th quarter. Enterprise Financial Services Corp now owns 5,052 shares of the company's stock worth $264,000 after purchasing an additional 194 shares in the last quarter. Finally, Fragasso Financial Advisors Inc boosted its position in shares of Altria Group by 3.1% in the 1st quarter. Fragasso Financial Advisors Inc now owns 6,499 shares of the company's stock worth $390,000 after purchasing an additional 197 shares in the last quarter. 57.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Needham & Company LLC upgraded Altria Group to a "hold" rating in a research note 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 target on Altria Group from $46.00 to $49.00 and gave the stock an "underweight" rating in a research report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on shares of Altria Group in a research report on Tuesday, April 1st. Finally, Citigroup lifted 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 research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Altria Group has an average rating of "Hold" and a consensus price target of $56.00.

Altria Group Stock Down 0.8%

MO traded down $0.49 during midday trading on Tuesday, hitting $58.14. 7,654,608 shares of the company traded hands, compared to its average volume of 8,548,742. The company's 50-day moving average is $59.24 and its 200 day moving average is $56.33. The firm has a market capitalization of $97.93 billion, a PE ratio of 9.74, a price-to-earnings-growth ratio of 3.44 and a beta of 0.61. 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 issued its quarterly earnings data on Tuesday, April 29th. The company reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates of $1.19 by $0.04. Altria Group had a net margin of 43.09% and a negative return on equity of 295.44%. The company had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the prior 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. On average, sell-side analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

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 paid a $1.02 dividend. The ex-dividend date is Monday, June 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.02%. Altria Group's dividend payout ratio (DPR) 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.