Symphony Financial Services Inc. Has $456,000 Stock Position in Altria Group, Inc. (NYSE:MO)

Symphony Financial Services Inc. cut its stake in Altria Group, Inc. (NYSE:MO) by 11.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,733 shares of the company’s stock after selling 1,083 shares during the quarter. Symphony Financial Services Inc.’s holdings in Altria Group were worth $456,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. State Street Corp boosted its holdings in shares of Altria Group by 5.6% in the 3rd quarter. State Street Corp now owns 73,481,686 shares of the company’s stock worth $3,821,831,000 after buying an additional 3,910,738 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Altria Group by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 59,805,286 shares of the company’s stock valued at $3,127,218,000 after buying an additional 2,296,972 shares in the last quarter. Los Angeles Capital Management LLC grew its position in shares of Altria Group by 729.8% in the third quarter. Los Angeles Capital Management LLC now owns 1,969,262 shares of the company’s stock valued at $100,511,000 after purchasing an additional 1,731,932 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Altria Group by 2.5% in the third quarter. Geode Capital Management LLC now owns 40,803,759 shares of the company’s stock worth $2,079,919,000 after purchasing an additional 1,003,605 shares during the period. Finally, Worldquant Millennium Advisors LLC purchased a new position in shares of Altria Group in the 3rd quarter worth about $32,206,000. Institutional investors own 57.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MO. Bank of America raised Altria Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $55.00 to $65.00 in a research note on Friday, December 6th. Barclays raised their price objective on Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. Finally, Morgan Stanley lowered their price target on Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Altria Group presently has a consensus rating of “Hold” and an average price target of $53.29.

Altria Group Stock Down 1.7 %

Altria Group stock opened at $56.35 on Wednesday. The business has a 50-day simple moving average of $52.90 and a two-hundred day simple moving average of $52.99. The company has a market cap of $95.28 billion, a P/E ratio of 8.60, a P/E/G ratio of 2.89 and a beta of 0.64. Altria Group, Inc. has a 52-week low of $39.72 and a 52-week high of $58.59.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.01. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. Research analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th will be issued a dividend of $1.02 per share. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 annualized dividend and a dividend yield of 7.24%. Altria Group’s dividend payout ratio (DPR) is 62.29%.

Altria Group Company 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.