Altria Group, Inc. (NYSE:MO) Position Decreased by TrinityPoint Wealth LLC

TrinityPoint Wealth LLC trimmed its stake in Altria Group, Inc. (NYSE:MO) by 27.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,301 shares of the company’s stock after selling 2,046 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Altria Group were worth $271,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Delta Investment Management LLC grew its position in Altria Group by 2.9% during the 2nd quarter. Delta Investment Management LLC now owns 7,064 shares of the company’s stock worth $322,000 after purchasing an additional 198 shares in the last quarter. Scarborough Advisors LLC lifted its position in Altria Group by 18.5% in the 2nd quarter. Scarborough Advisors LLC now owns 1,283 shares of the company’s stock worth $58,000 after buying an additional 200 shares in the last quarter. American Institute for Advanced Investment Management LLP boosted its stake in shares of Altria Group by 3.5% during the 3rd quarter. American Institute for Advanced Investment Management LLP now owns 5,860 shares of the company’s stock valued at $299,000 after buying an additional 200 shares during the period. Ridgecrest Wealth Partners LLC grew its stake in Altria Group by 3.5% in the third quarter. Ridgecrest Wealth Partners LLC now owns 5,851 shares of the company’s stock valued at $299,000 after purchasing an additional 200 shares in the last quarter. Finally, Zhang Financial LLC grew its stake in shares of Altria Group by 1.1% in the 3rd quarter. Zhang Financial LLC now owns 18,454 shares of the company’s stock valued at $942,000 after buying an additional 202 shares in the last quarter. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on MO. Citigroup lifted their price objective on shares of Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Stifel Nicolaus upped their price target on Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. UBS Group boosted their target price on Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a report on Monday, September 9th. Finally, Bank of America lowered their price target on Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $51.33.

Altria Group Stock Up 0.7 %

Shares of NYSE:MO opened at $56.34 on Tuesday. The company has a market cap of $95.49 billion, a price-to-earnings ratio of 9.52, a PEG ratio of 3.18 and a beta of 0.64. The business has a 50 day moving average price of $51.63 and a 200 day moving average price of $49.38. Altria Group, Inc. has a twelve month low of $39.25 and a twelve month high of $56.55.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.03. The business had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $5.33 billion. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. Altria Group’s quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the company posted $1.28 earnings per share. Analysts anticipate that Altria Group, Inc. will post 5.11 EPS for the current year.

Altria Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Monday, September 16th were given a dividend of $1.02 per share. The ex-dividend date was Monday, September 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.24%. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s dividend payout ratio is currently 68.92%.

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.