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

Highland Capital Management LLC decreased its stake in Altria Group, Inc. (NYSE:MO) by 1.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 89,253 shares of the company’s stock after selling 1,020 shares during the period. Highland Capital Management LLC’s holdings in Altria Group were worth $3,893,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MO. EP Wealth Advisors LLC lifted its stake in shares of Altria Group by 31.0% in the 3rd quarter. EP Wealth Advisors LLC now owns 39,677 shares of the company’s stock worth $1,668,000 after acquiring an additional 9,391 shares during the period. Modera Wealth Management LLC lifted its stake in shares of Altria Group by 53.7% in the 3rd quarter. Modera Wealth Management LLC now owns 44,807 shares of the company’s stock worth $1,884,000 after acquiring an additional 15,651 shares during the period. Wellington Management Group LLP increased its holdings in shares of Altria Group by 46.9% in the 3rd quarter. Wellington Management Group LLP now owns 381,218 shares of the company’s stock valued at $16,030,000 after purchasing an additional 121,762 shares in the last quarter. Raleigh Capital Management Inc. increased its holdings in shares of Altria Group by 3.5% in the 3rd quarter. Raleigh Capital Management Inc. now owns 8,366 shares of the company’s stock valued at $352,000 after purchasing an additional 281 shares in the last quarter. Finally, Headinvest LLC purchased a new position in shares of Altria Group in the 3rd quarter valued at about $74,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Price Performance

MO stock traded up $0.65 during midday trading on Friday, reaching $47.73. 7,337,353 shares of the company’s stock traded hands, compared to its average volume of 8,851,913. The company has a market capitalization of $81.98 billion, a P/E ratio of 9.99, a PEG ratio of 2.93 and a beta of 0.66. Altria Group, Inc. has a fifty-two week low of $39.06 and a fifty-two week high of $47.83. The business has a 50-day moving average price of $45.80 and a two-hundred day moving average price of $43.11.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, April 25th. The company reported $1.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.15. The firm had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.71 billion. Altria Group had a net margin of 34.81% and a negative return on equity of 222.80%. Altria Group’s revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.18 earnings per share. As a group, research analysts forecast that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Friday, June 14th were paid a dividend of $0.98 per share. The ex-dividend date was Friday, June 14th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 8.21%. Altria Group’s dividend payout ratio is currently 82.01%.

Insider Activity

In related news, VP Charles N. Whitaker sold 22,487 shares of Altria Group stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $43.95, for a total value of $988,303.65. Following the completion of the sale, the vice president now owns 173,485 shares in the company, valued at $7,624,665.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MO. Argus upgraded shares of Altria Group to a “hold” rating in a report on Friday, May 31st. UBS Group raised their target price on shares of Altria Group from $36.10 to $36.50 and gave the company a “sell” rating in a report on Monday, April 8th. Stifel Nicolaus restated a “buy” rating and set a $50.00 target price on shares of Altria Group in a report on Monday, March 25th. Bank of America raised their target price on shares of Altria Group from $47.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a report on Friday, June 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $47.10.

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.