SteelPeak Wealth LLC Sells 113,402 Shares of Altria Group, Inc. (NYSE:MO)

SteelPeak Wealth LLC trimmed its position in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 69.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,157 shares of the company's stock after selling 113,402 shares during the quarter. SteelPeak Wealth LLC's holdings in Altria Group were worth $3,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of MO. Redwood Park Advisors LLC bought a new position in Altria Group in the 4th quarter worth $26,000. VSM Wealth Advisory LLC bought a new position in Altria Group in the 4th quarter worth $29,000. Inlight Wealth Management LLC bought a new position in Altria Group in the 1st quarter worth $31,000. Sierra Ocean LLC raised its holdings in Altria Group by 226.3% in the 1st quarter. Sierra Ocean LLC now owns 509 shares of the company's stock worth $31,000 after purchasing an additional 353 shares during the period. Finally, Pinney & Scofield Inc. bought a new position in Altria Group in the 4th quarter worth $33,000. 57.41% of the stock is owned by institutional investors.

Altria Group Stock Down 1.3%

MO traded down $0.76 on Friday, hitting $57.79. The company had a trading volume of 9,428,820 shares, compared to its average volume of 8,665,072. The company has a market cap of $97.34 billion, a PE ratio of 9.68, a PEG ratio of 3.43 and a beta of 0.59. Altria Group, Inc. has a 12-month low of $47.11 and a 12-month high of $61.26. The business's fifty day simple moving average is $59.25 and its 200 day simple moving average is $56.61.

Altria Group (NYSE:MO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $1.23 EPS 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 analyst estimates of $4.64 billion. Altria Group had a negative return on equity of 295.44% and a net margin of 43.09%. The firm's revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the business posted $1.15 earnings per share. On average, analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Monday, June 16th were paid a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 7.06%. The ex-dividend date was Monday, June 16th. Altria Group's payout ratio is currently 68.34%.

Analyst Ratings Changes

A number of equities analysts recently commented on MO shares. Stifel Nicolaus raised their target price on Altria Group from $60.00 to $63.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Wall Street Zen lowered Altria Group from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. Barclays increased their price target on Altria Group from $46.00 to $49.00 and gave the stock an "underweight" rating in a research note on Friday, May 2nd. Citigroup increased their price target on Altria Group from $52.00 to $55.00 and gave the stock a "neutral" rating in a research note on Friday, April 25th. Finally, UBS Group upgraded Altria Group from a "sell" rating to a "neutral" rating and raised their price objective for the company from $47.00 to $59.00 in a research report on Wednesday, July 2nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $56.75.

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.