Voloridge Investment Management LLC Cuts Position in Altria Group, Inc. (NYSE:MO)

Voloridge Investment Management LLC lessened its stake in Altria Group, Inc. (NYSE:MO) by 29.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,102,361 shares of the company’s stock after selling 470,702 shares during the quarter. Voloridge Investment Management LLC owned 0.07% of Altria Group worth $57,642,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Financial Life Planners acquired a new stake in Altria Group in the 4th quarter valued at about $25,000. Redwood Park Advisors LLC acquired a new stake in Altria Group in the 4th quarter valued at about $26,000. VSM Wealth Advisory LLC acquired a new stake in Altria Group in the 4th quarter valued at about $29,000. Marshall Investment Management LLC acquired a new stake in Altria Group in the 4th quarter valued at about $32,000. Finally, Promus Capital LLC acquired a new stake in Altria Group in the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Stock Performance

MO opened at $59.85 on Wednesday. The company’s 50 day simple moving average is $58.08 and its 200 day simple moving average is $55.58. Altria Group, Inc. has a 1 year low of $43.83 and a 1 year high of $61.26. The stock has a market capitalization of $100.81 billion, a PE ratio of 9.14, a P/E/G ratio of 2.89 and a beta of 0.60.

Altria Group (NYSE:MO) last released its earnings results on Tuesday, April 29th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.04. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. The business had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same period last year, the company earned $1.15 earnings per share. The company’s quarterly revenue was down 4.2% on a year-over-year basis. As a group, sell-side analysts expect 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 will be paid on Thursday, July 10th. Investors of record on Monday, June 16th will be given a $1.02 dividend. The ex-dividend date is Monday, June 16th. This represents a $4.08 annualized dividend and a dividend yield of 6.82%. Altria Group’s dividend payout ratio is presently 68.34%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MO shares. Barclays increased their price objective on shares of Altria Group from $46.00 to $49.00 and gave the company an “underweight” rating in a research note on Friday, May 2nd. StockNews.com cut shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Thursday, May 1st. Morgan Stanley decreased their price target on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. UBS Group raised their price target on shares of Altria Group from $46.00 to $47.00 and gave the stock a “sell” rating in a research note on Wednesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft set a $60.00 price target on shares of Altria Group in a research note on Tuesday, April 1st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Altria Group has a consensus rating of “Hold” and an average target price 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.