Hartford Investment Management Co. Has $4.81 Million Holdings in Altria Group, Inc. (NYSE:MO)

Hartford Investment Management Co. cut its holdings in Altria Group, Inc. (NYSE:MO) by 3.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 119,256 shares of the company’s stock after selling 4,068 shares during the quarter. Hartford Investment Management Co.’s holdings in Altria Group were worth $4,811,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Loomis Sayles & Co. L P acquired a new stake in Altria Group in the first quarter valued at about $25,000. Altshuler Shaham Ltd bought a new position in Altria Group in the third quarter valued at about $26,000. Nemes Rush Group LLC raised its position in Altria Group by 103.2% in the third quarter. Nemes Rush Group LLC now owns 636 shares of the company’s stock valued at $27,000 after purchasing an additional 323 shares during the last quarter. ZRC Wealth Management LLC raised its position in Altria Group by 67.6% in the fourth quarter. ZRC Wealth Management LLC now owns 677 shares of the company’s stock valued at $28,000 after purchasing an additional 273 shares during the last quarter. Finally, Legacy Financial Group LLC bought a new position in Altria Group in the third quarter valued at about $30,000. 57.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research report on Wednesday, March 27th. Stifel Nicolaus reiterated a “buy” rating and issued a $50.00 target price on shares of Altria Group in a research report on Monday, March 25th. Finally, UBS Group reiterated a “sell” rating and issued a $36.10 target price on shares of Altria Group in a research report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $46.82.

Altria Group Stock Performance

Shares of MO traded down $0.17 during mid-day trading on Thursday, reaching $41.95. 4,723,996 shares of the company were exchanged, compared to its average volume of 11,801,258. Altria Group, Inc. has a 52 week low of $39.06 and a 52 week high of $48.04. The stock has a market capitalization of $73.98 billion, a PE ratio of 9.18, a PEG ratio of 2.59 and a beta of 0.65. The business has a 50 day simple moving average of $41.68 and a two-hundred day simple moving average of $41.50.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, February 1st. The company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.01. Altria Group had a negative return on equity of 244.55% and a net margin of 33.21%. The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same period last year, the company earned $1.18 earnings per share. The firm’s revenue was down 1.2% compared to the same quarter last year. On average, analysts predict that Altria Group, Inc. will post 5.08 EPS for the current year.

Altria Group announced that its board has approved a stock repurchase program on Thursday, February 1st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 1.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Altria Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, March 25th will be paid a dividend of $0.98 per share. The ex-dividend date of this dividend is Friday, March 22nd. This represents a $3.92 annualized dividend and a yield of 9.34%. Altria Group’s dividend payout ratio is currently 85.78%.

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.