Corient Private Wealth LLC Lowers Holdings in Altria Group, Inc. (NYSE:MO)

Corient Private Wealth LLC lessened its stake in Altria Group, Inc. (NYSE:MO) by 11.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 491,228 shares of the company’s stock after selling 60,912 shares during the quarter. Corient Private Wealth LLC’s holdings in Altria Group were worth $25,687,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Financial Life Planners purchased a new position in shares of Altria Group in the 4th quarter worth about $25,000. True Wealth Design LLC raised its position in shares of Altria Group by 420.0% in the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after purchasing an additional 462 shares during the last quarter. Legacy Investment Solutions LLC purchased a new position in shares of Altria Group in the 3rd quarter worth about $34,000. Marshall Investment Management LLC purchased a new position in shares of Altria Group in the 4th quarter worth about $32,000. Finally, Promus Capital LLC purchased a new position in shares of Altria Group in the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MO shares. 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 report on Friday, December 6th. Morgan Stanley reduced their price objective on Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $53.29.

Altria Group Stock Down 1.0 %

Altria Group stock opened at $58.31 on Wednesday. The business has a 50-day simple moving average of $54.03 and a two-hundred day simple moving average of $53.38. The company has a market cap of $98.59 billion, a P/E ratio of 8.90, a P/E/G ratio of 2.89 and a beta of 0.56. Altria Group, Inc. has a 52-week low of $40.65 and a 52-week high of $59.67.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, March 25th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.00%. Altria Group’s dividend payout ratio is currently 62.29%.

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.