Griffin Asset Management Inc. Sells 961 Shares of Altria Group, Inc. (NYSE:MO)

Griffin Asset Management Inc. reduced its stake in shares of Altria Group, Inc. (NYSE:MOGet Rating) by 3.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,624 shares of the company’s stock after selling 961 shares during the period. Griffin Asset Management Inc.’s holdings in Altria Group were worth $1,234,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. State Street Corp raised its holdings in Altria Group by 3.4% during the fourth quarter. State Street Corp now owns 71,762,274 shares of the company’s stock valued at $3,465,063,000 after buying an additional 2,371,300 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Altria Group by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,123,753 shares of the company’s stock valued at $1,617,126,000 after purchasing an additional 1,103,432 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Altria Group by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 30,391,914 shares of the company’s stock valued at $1,437,087,000 after purchasing an additional 644,221 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Altria Group by 1.6% in the third quarter. Bank of New York Mellon Corp now owns 21,542,174 shares of the company’s stock valued at $980,603,000 after purchasing an additional 346,246 shares during the last quarter. Finally, Capital International Investors grew its position in shares of Altria Group by 8.2% in the fourth quarter. Capital International Investors now owns 17,727,541 shares of the company’s stock valued at $840,078,000 after purchasing an additional 1,348,687 shares during the last quarter. Institutional investors own 59.05% of the company’s stock.

MO stock opened at $41.50 on Thursday. The business’s 50-day simple moving average is $52.51 and its 200 day simple moving average is $51.04. The company has a market cap of $75.14 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 2.36 and a beta of 0.50. Altria Group, Inc. has a twelve month low of $41.00 and a twelve month high of $57.05.

Altria Group (NYSE:MOGet Rating) last released its quarterly earnings data on Thursday, April 28th. The company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.03. The company had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.88 billion. Altria Group had a negative return on equity of 2,506.92% and a net margin of 11.64%. The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.07 earnings per share. Research analysts predict that Altria Group, Inc. will post 4.84 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 11th. Shareholders of record on Wednesday, June 15th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 8.67%. The ex-dividend date of this dividend is Tuesday, June 14th. Altria Group’s payout ratio is 219.51%.

Several equities research analysts have recently issued reports on the company. StockNews.com assumed coverage on Altria Group in a research report on Thursday, March 31st. They issued a “buy” rating on the stock. Cowen raised their price target on Altria Group from $51.00 to $53.00 in a research report on Thursday, April 7th. Sanford C. Bernstein downgraded Altria Group from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $58.00 to $53.00 in a research report on Tuesday, May 10th. The Goldman Sachs Group raised Altria Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $48.00 to $57.00 in a research report on Tuesday, March 22nd. Finally, Morgan Stanley decreased their target price on Altria Group from $50.00 to $47.00 and set an “underweight” rating on the stock in a research report on Friday, June 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $53.25.

Altria Group Profile (Get Rating)

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company provides cigarettes primarily under the Marlboro brand; cigars and pipe tobacco principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands, as well as provides on! oral nicotine pouches.

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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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