Todd Asset Management LLC Sells 79,739 Shares of Altria Group, Inc. (NYSE:MO)

Todd Asset Management LLC lessened its holdings in Altria Group, Inc. (NYSE:MO - Free Report) by 9.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 744,626 shares of the company's stock after selling 79,739 shares during the quarter. Todd Asset Management LLC's holdings in Altria Group were worth $30,038,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in MO. Taylor & Morgan Wealth Management LLC boosted its holdings in Altria Group by 2.1% in the 4th quarter. Taylor & Morgan Wealth Management LLC now owns 11,981 shares of the company's stock worth $483,000 after buying an additional 246 shares during the period. Whitener Capital Management Inc. lifted its holdings in Altria Group by 2.6% during the 3rd quarter. Whitener Capital Management Inc. now owns 9,797 shares of the company's stock worth $412,000 after purchasing an additional 250 shares in the last quarter. Salvus Wealth Management LLC boosted its stake in Altria Group by 1.8% in the 4th quarter. Salvus Wealth Management LLC now owns 14,326 shares of the company's stock worth $578,000 after purchasing an additional 250 shares during the period. Mcintyre Freedman & Flynn Investment Advisers Inc. increased its position in shares of Altria Group by 0.4% during the third quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 58,143 shares of the company's stock valued at $2,445,000 after buying an additional 253 shares during the period. Finally, Resonant Capital Advisors LLC lifted its holdings in shares of Altria Group by 5.7% in the third quarter. Resonant Capital Advisors LLC now owns 4,738 shares of the company's stock worth $204,000 after buying an additional 254 shares in the last quarter. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MO shares. UBS Group upped their target price on shares of Altria Group from $36.10 to $36.50 and gave the stock a "sell" rating in a report on Monday, April 8th. StockNews.com downgraded Altria Group from a "buy" rating to a "hold" rating in a research report on Sunday, April 14th. Finally, Stifel Nicolaus restated a "buy" rating and set a $50.00 target price on shares of Altria Group in a research report on Monday, March 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Altria Group has a consensus rating of "Hold" and an average price target of $46.90.

Altria Group Stock Performance

Shares of MO stock traded down $0.39 during mid-day trading on Friday, reaching $43.59. 11,228,966 shares of the company's stock traded hands, compared to its average volume of 11,736,930. The firm has a 50 day moving average price of $42.50 and a two-hundred day moving average price of $41.49. Altria Group, Inc. has a 12 month low of $39.06 and a 12 month high of $46.86. The firm has a market capitalization of $74.87 billion, a PE ratio of 9.12, a price-to-earnings-growth ratio of 2.66 and a beta of 0.66.

Altria Group (NYSE:MO - Get Free Report) last issued its earnings results on Thursday, April 25th. The company reported $1.15 earnings per share for the quarter, hitting the consensus estimate of $1.15. Altria Group had a net margin of 34.81% and a negative return on equity of 222.80%. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.71 billion. During the same quarter in the prior year, the firm posted $1.18 EPS. Altria Group's quarterly revenue was down 1.0% compared to the same quarter last year. As a group, equities analysts expect that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, March 25th were paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 8.99%. The ex-dividend date was Friday, March 22nd. Altria Group's payout ratio is 82.01%.

Altria Group declared that its board has approved a stock buyback program on Thursday, February 1st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 1.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.

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.