Kovitz Investment Group Partners LLC Trims Holdings in Altria Group, Inc. (NYSE:MO)

Kovitz Investment Group Partners LLC trimmed its stake in Altria Group, Inc. (NYSE:MOGet Rating) by 37.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 5,899 shares of the company’s stock after selling 3,554 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Altria Group were worth $242,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in MO. Vontobel Holding Ltd. raised its stake in shares of Altria Group by 39.0% in the 3rd quarter. Vontobel Holding Ltd. now owns 93,729 shares of the company’s stock valued at $4,267,000 after acquiring an additional 26,294 shares during the period. GWM Advisors LLC grew its holdings in shares of Altria Group by 12.1% in the third quarter. GWM Advisors LLC now owns 61,125 shares of the company’s stock valued at $2,783,000 after purchasing an additional 6,605 shares in the last quarter. XML Financial LLC grew its holdings in shares of Altria Group by 1.9% in the third quarter. XML Financial LLC now owns 24,796 shares of the company’s stock valued at $1,129,000 after purchasing an additional 456 shares in the last quarter. Loudon Investment Management LLC grew its holdings in shares of Altria Group by 69.4% in the third quarter. Loudon Investment Management LLC now owns 41,513 shares of the company’s stock valued at $1,890,000 after purchasing an additional 17,000 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Altria Group by 2.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 64,271 shares of the company’s stock valued at $2,925,000 after purchasing an additional 1,635 shares in the last quarter. 59.01% of the stock is currently owned by institutional investors and hedge funds.

MO has been the subject of a number of research reports. The Goldman Sachs Group upgraded shares of Altria Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $48.00 to $57.00 in a report on Tuesday, March 22nd. Royal Bank of Canada cut shares of Altria Group from an “outperform” rating to a “sector perform” rating and set a $53.00 price target for the company. in a report on Monday, March 28th. StockNews.com initiated coverage on shares of Altria Group in a report on Thursday, March 31st. They set a “buy” rating for the company. Cowen boosted their price target on shares of Altria Group from $51.00 to $53.00 in a report on Thursday, April 7th. Finally, Morgan Stanley boosted their price target on shares of Altria Group from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 26th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Altria Group has a consensus rating of “Hold” and an average price target of $53.00.

Shares of Altria Group stock traded up $0.47 during trading hours on Tuesday, hitting $55.07. The company had a trading volume of 124,071 shares, compared to its average volume of 9,363,076. The company’s 50-day moving average is $52.20 and its two-hundred day moving average is $48.86. Altria Group, Inc. has a twelve month low of $42.53 and a twelve month high of $55.33. The company has a market cap of $99.83 billion, a P/E ratio of 41.05, a price-to-earnings-growth ratio of 2.85 and a beta of 0.59.

Altria Group (NYSE:MOGet Rating) last released its quarterly earnings results on Thursday, January 27th. The company reported $1.09 EPS for the quarter, meeting the consensus estimate of $1.09. Altria Group had a net margin of 9.51% and a return on equity of 1,009.13%. The firm had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $5 billion. During the same quarter in the prior year, the firm earned $0.99 EPS. Altria Group’s revenue for the quarter was up 23.7% on a year-over-year basis. Equities research analysts expect that Altria Group, Inc. will post 4.83 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 29th. Shareholders of record on Friday, March 25th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, March 24th. This represents a $3.60 dividend on an annualized basis and a yield of 6.54%. Altria Group’s payout ratio is currently 270.68%.

Altria Group Profile (Get Rating)

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company provides cigarettes primarily under the Marlboro brand; cigars and pipe tobacco principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands, as well as provides on! oral nicotine pouches.

Further Reading

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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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