Strategic Investment Advisors MI Sells 1,707 Shares of Altria Group, Inc. (NYSE:MO)

Strategic Investment Advisors MI lessened its position in Altria Group, Inc. (NYSE:MO) by 3.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,583 shares of the company’s stock after selling 1,707 shares during the quarter. Strategic Investment Advisors MI’s holdings in Altria Group were worth $3,276,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its position in Altria Group by 64.7% in the 4th quarter. Brighton Jones LLC now owns 17,702 shares of the company’s stock valued at $926,000 after buying an additional 6,954 shares during the period. TCW Group Inc. boosted its position in Altria Group by 1.2% in the 4th quarter. TCW Group Inc. now owns 36,460 shares of the company’s stock valued at $1,906,000 after buying an additional 442 shares during the period. IFP Advisors Inc boosted its position in Altria Group by 9.4% in the 4th quarter. IFP Advisors Inc now owns 32,727 shares of the company’s stock valued at $1,711,000 after buying an additional 2,823 shares during the period. Crestwood Advisors Group LLC boosted its position in Altria Group by 8.1% in the 4th quarter. Crestwood Advisors Group LLC now owns 20,972 shares of the company’s stock valued at $1,097,000 after buying an additional 1,565 shares during the period. Finally, Horizon Advisory Services Inc. purchased a new stake in Altria Group in the 4th quarter valued at about $381,000. Institutional investors own 57.41% of the company’s stock.

Altria Group Stock Down 0.9%

NYSE:MO opened at $59.96 on Wednesday. Altria Group, Inc. has a 52 week low of $45.17 and a 52 week high of $61.26. The firm has a 50 day moving average of $59.15 and a 200 day moving average of $56.22. The stock has a market capitalization of $101.00 billion, a price-to-earnings ratio of 10.04, a PEG ratio of 3.54 and a beta of 0.61.

Altria Group (NYSE:MO) last posted its earnings results on Tuesday, April 29th. The company reported $1.23 EPS 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 during the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the prior year, the company posted $1.15 earnings per share. Altria Group’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, analysts expect that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Monday, June 16th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.08 dividend on an annualized basis and a yield of 6.80%. Altria Group’s payout ratio is 68.34%.

Analysts Set New Price Targets

MO has been the subject of several recent research reports. Needham & Company LLC upgraded shares of Altria Group to a “hold” rating in a report on Thursday, May 22nd. Wall Street Zen lowered shares of Altria Group from a “buy” rating to a “hold” rating in a report on Thursday, May 1st. Barclays boosted their price target on shares of Altria Group from $46.00 to $49.00 and gave the company an “underweight” rating in a report on Friday, May 2nd. Citigroup boosted their price target on shares of Altria Group from $52.00 to $55.00 and gave the company a “neutral” rating in a report on Friday, April 25th. Finally, Stifel Nicolaus boosted their price target on shares of Altria Group from $60.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $56.00.

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.