ProVise Management Group LLC Sells 14,571 Shares of Altria Group, Inc. $MO

ProVise Management Group LLC lessened its holdings in Altria Group, Inc. (NYSE:MO) by 73.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,350 shares of the company’s stock after selling 14,571 shares during the quarter. ProVise Management Group LLC’s holdings in Altria Group were worth $353,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MO. Prevail Innovative Wealth Advisors LLC grew its position in Altria Group by 69.6% in the third quarter. Prevail Innovative Wealth Advisors LLC now owns 24,030 shares of the company’s stock valued at $1,587,000 after acquiring an additional 9,863 shares during the last quarter. Vinva Investment Management Ltd acquired a new position in Altria Group during the third quarter worth about $2,284,000. Parallel Advisors LLC lifted its holdings in shares of Altria Group by 6.8% in the third quarter. Parallel Advisors LLC now owns 44,669 shares of the company’s stock worth $2,951,000 after acquiring an additional 2,851 shares during the last quarter. CreativeOne Wealth LLC lifted its holdings in shares of Altria Group by 7.0% in the third quarter. CreativeOne Wealth LLC now owns 226,184 shares of the company’s stock worth $14,942,000 after acquiring an additional 14,777 shares during the last quarter. Finally, Natixis Advisors LLC boosted its stake in shares of Altria Group by 3.5% in the 3rd quarter. Natixis Advisors LLC now owns 1,226,283 shares of the company’s stock valued at $81,008,000 after purchasing an additional 41,390 shares in the last quarter. Institutional investors own 57.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MO shares. Barclays lifted their price target on shares of Altria Group from $57.00 to $63.00 and gave the company an “underweight” rating in a report on Monday, February 23rd. Argus upgraded shares of Altria Group to a “hold” rating in a research report on Tuesday, January 13th. Jefferies Financial Group boosted their target price on shares of Altria Group from $47.00 to $50.00 and gave the stock an “underperform” rating in a research note on Wednesday, March 4th. Citigroup upped their price target on shares of Altria Group from $57.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Finally, UBS Group increased their price target on Altria Group from $67.00 to $74.00 and gave the company a “buy” rating in a research note on Monday. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $65.11.

Altria Group Price Performance

Altria Group stock opened at $66.93 on Tuesday. The business has a 50 day moving average of $63.44 and a 200-day moving average of $62.57. The company has a market capitalization of $111.91 billion, a P/E ratio of 16.29, a P/E/G ratio of 2.84 and a beta of 0.45. Altria Group, Inc. has a 1 year low of $52.82 and a 1 year high of $70.51.

Altria Group (NYSE:MO) last posted its earnings results on Thursday, January 29th. The company reported $1.30 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.02). Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.During the same quarter last year, the company earned $1.30 EPS. The company’s revenue for the quarter was down .5% compared to the same quarter last year. Equities analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Wednesday, March 25th will be issued a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date is Wednesday, March 25th. Altria Group’s payout ratio is 103.16%.

Insider Activity at Altria Group

In related news, SVP Charles N. Whitaker sold 27,908 shares of the business’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $67.57, for a total value of $1,885,743.56. Following the sale, the senior vice president owned 180,869 shares of the company’s stock, valued at $12,221,318.33. The trade was a 13.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.08% of the company’s stock.

Altria Group Profile

Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.