Axxcess Wealth Management LLC Sells 10,556 Shares of Altria Group, Inc. (NYSE:MO)

Axxcess Wealth Management LLC trimmed its position in shares of Altria Group, Inc. (NYSE:MO) by 20.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 42,145 shares of the company’s stock after selling 10,556 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Altria Group were worth $2,204,000 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 the company. Thrivent Financial for Lutherans increased its stake in Altria Group by 4.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 451,816 shares of the company’s stock worth $23,060,000 after buying an additional 19,673 shares in the last quarter. Baron Wealth Management LLC purchased a new position in shares of Altria Group during the third quarter valued at about $204,000. Prospera Financial Services Inc lifted its holdings in shares of Altria Group by 9.8% in the 3rd quarter. Prospera Financial Services Inc now owns 79,149 shares of the company’s stock valued at $4,040,000 after acquiring an additional 7,088 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its holdings in shares of Altria Group by 79.9% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 14,004 shares of the company’s stock valued at $715,000 after acquiring an additional 6,219 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Altria Group in the 3rd quarter valued at about $1,394,000. 57.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Bank of America raised shares of Altria Group from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $55.00 to $65.00 in a research note on Friday, December 6th. Morgan Stanley cut their price objective on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $53.29.

Altria Group Stock Performance

NYSE MO opened at $57.97 on Thursday. The firm has a market cap of $98.01 billion, a PE ratio of 8.85, a P/E/G ratio of 2.89 and a beta of 0.56. Altria Group, Inc. has a one year low of $40.65 and a one year high of $59.67. The firm’s fifty day moving average is $54.16 and its two-hundred day moving average is $53.42.

Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, January 30th. The company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. Research analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th will be given a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 7.04%. The ex-dividend date is Tuesday, March 25th. Altria Group’s payout ratio is currently 62.29%.

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.