Altria Group, Inc. (NYSE:MO) Shares Sold by McElhenny Sheffield Capital Management LLC

McElhenny Sheffield Capital Management LLC reduced its position in shares of Altria Group, Inc. (NYSE:MO) by 49.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,714 shares of the company’s stock after selling 8,442 shares during the period. McElhenny Sheffield Capital Management LLC’s holdings in Altria Group were worth $445,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. MFA Wealth Advisors LLC acquired a new stake in shares of Altria Group during the 2nd quarter worth approximately $27,000. BNP Paribas acquired a new stake in shares of Altria Group during the first quarter valued at about $27,000. Hobbs Group Advisors LLC purchased a new stake in shares of Altria Group in the 2nd quarter valued at approximately $30,000. Valley Wealth Managers Inc. lifted its holdings in shares of Altria Group by 63.9% in the 2nd quarter. Valley Wealth Managers Inc. now owns 667 shares of the company’s stock worth $30,000 after acquiring an additional 260 shares during the last quarter. Finally, Riverview Trust Co purchased a new position in shares of Altria Group during the 1st quarter worth approximately $36,000. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Price Performance

NYSE:MO opened at $49.61 on Monday. Altria Group, Inc. has a 12 month low of $39.06 and a 12 month high of $54.95. The firm has a market capitalization of $85.21 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 2.90 and a beta of 0.65. The business’s fifty day moving average price is $51.54 and its 200 day moving average price is $47.83.

Altria Group (NYSE:MO) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). The business had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $5.39 billion. Altria Group had a net margin of 42.25% and a negative return on equity of 232.55%. The company’s revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.31 EPS. As a group, equities analysts anticipate that Altria Group, Inc. will post 5.11 EPS for the current year.

Altria Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Monday, September 16th were issued a $1.02 dividend. This is a boost from Altria Group’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend was Monday, September 16th. This represents a $4.08 annualized dividend and a dividend yield of 8.22%. Altria Group’s dividend payout ratio is presently 85.36%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Stifel Nicolaus upped their price target on Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. StockNews.com lowered shares of Altria Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Barclays boosted their price target on shares of Altria Group from $43.00 to $45.00 and gave the stock an “underweight” rating in a research note on Monday, September 9th. Citigroup lifted their target price on Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Finally, UBS Group upped their price target on Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $48.20.

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.