Walled Lake Planning & Wealth Management LLC decreased its holdings in Altria Group, Inc. (NYSE:MO – Get Rating) by 12.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,788 shares of the company’s stock after selling 11,467 shares during the period. Altria Group comprises about 2.2% of Walled Lake Planning & Wealth Management LLC’s investment portfolio, making the stock its 22nd biggest holding. Walled Lake Planning & Wealth Management LLC’s holdings in Altria Group were worth $3,829,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new position in shares of Altria Group in the 3rd quarter worth $28,000. Masso Torrence Wealth Management Inc. purchased a new position in Altria Group during the fourth quarter valued at $31,000. TAP Consulting LLC purchased a new position in Altria Group during the fourth quarter valued at $32,000. Shore Point Advisors LLC purchased a new position in Altria Group during the fourth quarter valued at $33,000. Finally, AHL Investment Management Inc. purchased a new position in Altria Group during the fourth quarter valued at $36,000. 59.05% of the stock is owned by institutional investors and hedge funds.
Shares of MO stock traded up $0.87 during trading hours on Friday, hitting $53.04. The stock had a trading volume of 8,144,638 shares, compared to its average volume of 10,080,104. Altria Group, Inc. has a one year low of $42.53 and a one year high of $57.05. The stock’s 50-day moving average price is $53.51 and its two-hundred day moving average price is $49.81. The stock has a market capitalization of $96.03 billion, a price-to-earnings ratio of 32.34, a PEG ratio of 2.67 and a beta of 0.50.
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 29th. Shareholders of record on Friday, March 25th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, March 24th. This represents a $3.60 annualized dividend and a yield of 6.79%. Altria Group’s payout ratio is currently 219.51%.
Several equities analysts recently weighed in on MO shares. Royal Bank of Canada downgraded Altria Group from an “outperform” rating to a “sector perform” rating and set a $53.00 target price on the stock. in a research report on Monday, March 28th. Cowen lifted their target price on Altria Group from $51.00 to $53.00 in a research report on Thursday, April 7th. Sanford C. Bernstein downgraded Altria Group from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $58.00 to $53.00 in a research report on Tuesday. Cowen boosted their price objective on Altria Group from $51.00 to $53.00 in a research report on Thursday, April 7th. Finally, The Goldman Sachs Group upgraded Altria Group from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $48.00 to $57.00 in a research report on Tuesday, March 22nd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $53.75.
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.
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