The Manufacturers Life Insurance Company Lowers Holdings in Altria Group, Inc. (NYSE:MO)

The Manufacturers Life Insurance Company reduced its stake in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,087,777 shares of the company's stock after selling 18,729 shares during the quarter. The Manufacturers Life Insurance Company owned 0.06% of Altria Group worth $56,880,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Bellwether Advisors LLC purchased a new position in Altria Group during the fourth quarter worth approximately $38,000. Quarry LP lifted its position in shares of Altria Group by 12.6% during the 4th quarter. Quarry LP now owns 4,016 shares of the company's stock valued at $210,000 after buying an additional 448 shares in the last quarter. Berger Financial Group Inc grew its stake in Altria Group by 23.4% in the 4th quarter. Berger Financial Group Inc now owns 7,654 shares of the company's stock valued at $400,000 after acquiring an additional 1,453 shares during the period. Johnson Financial Group Inc. increased its holdings in Altria Group by 9.5% in the 4th quarter. Johnson Financial Group Inc. now owns 168,666 shares of the company's stock worth $8,809,000 after acquiring an additional 14,644 shares in the last quarter. Finally, Coldstream Capital Management Inc. raised its position in Altria Group by 1.1% during the fourth quarter. Coldstream Capital Management Inc. now owns 42,064 shares of the company's stock worth $2,200,000 after acquiring an additional 459 shares during the period. 57.41% of the stock is owned by institutional investors and hedge funds.

Altria Group Price Performance

NYSE:MO opened at $59.11 on Thursday. The company's 50-day moving average is $57.45 and its two-hundred day moving average is $54.72. Altria Group, Inc. has a 1-year low of $43.37 and a 1-year high of $60.18. The firm has a market capitalization of $99.94 billion, a price-to-earnings ratio of 9.02, a PEG ratio of 2.89 and a beta of 0.54.

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, 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 258.72% and a net margin of 46.90%. The firm's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.15 earnings per share. As a group, equities analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th were issued a $1.02 dividend. The ex-dividend date of this dividend was Tuesday, March 25th. This represents a $4.08 annualized dividend and a yield of 6.90%. Altria Group's dividend payout ratio (DPR) is presently 68.34%.

Analyst Upgrades and Downgrades

MO has been the subject of a number of research reports. 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 note on Wednesday. UBS Group increased their target price on Altria Group from $46.00 to $47.00 and gave the company a "sell" rating in a report on Wednesday. Morgan Stanley dropped their price target on Altria Group from $54.00 to $53.00 and set an "equal weight" rating for the company in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on Altria Group in a report on Tuesday, April 1st. Finally, Citigroup upped 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 analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $55.57.

About Altria Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.