Verdence Capital Advisors LLC Has $3.53 Million Stock Position in Altria Group, Inc. (NYSE:MO)

Verdence Capital Advisors LLC reduced its holdings in shares of Altria Group, Inc. (NYSE:MO) by 11.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 67,548 shares of the company’s stock after selling 8,745 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Altria Group were worth $3,532,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Financial Life Planners bought a new position in shares of Altria Group in the fourth quarter worth about $25,000. True Wealth Design LLC grew its holdings in shares of Altria Group by 420.0% during the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock valued at $29,000 after purchasing an additional 462 shares during the last quarter. Marshall Investment Management LLC bought a new stake in shares of Altria Group during the 4th quarter valued at approximately $32,000. Legacy Investment Solutions LLC bought a new stake in shares of Altria Group during the 3rd quarter valued at approximately $34,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Altria Group during the 4th quarter valued at approximately $40,000. 57.41% of the stock is owned by institutional investors and hedge funds.

Altria Group Price Performance

MO opened at $56.35 on Wednesday. Altria Group, Inc. has a fifty-two week low of $39.72 and a fifty-two week high of $58.59. The firm has a market capitalization of $95.28 billion, a price-to-earnings ratio of 8.60, a PEG ratio of 2.89 and a beta of 0.64. The company’s 50 day moving average price is $52.90 and its two-hundred day moving average price is $52.99.

Altria Group (NYSE:MO) last released its quarterly earnings data 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 net margin of 46.90% and a negative return on equity of 258.72%. As a group, equities research analysts predict that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th will be paid a $1.02 dividend. 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 payout ratio is 62.29%.

Wall Street Analysts Forecast Growth

MO has been the topic of several research reports. Bank of America raised shares of Altria Group from a “neutral” rating to a “buy” rating and lifted their price target for the company from $55.00 to $65.00 in a report on Friday, December 6th. Morgan Stanley decreased their price target on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Finally, Barclays lifted their price target on shares of Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $53.29.

About Altria Group

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.