Fernwood Investment Management LLC Sells 536 Shares of Altria Group, Inc. (NYSE:MO)

Fernwood Investment Management LLC lowered its position in shares of Altria Group, Inc. (NYSE:MO) by 0.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 69,357 shares of the company’s stock after selling 536 shares during the period. Altria Group comprises about 1.3% of Fernwood Investment Management LLC’s investment portfolio, making the stock its 21st largest position. Fernwood Investment Management LLC’s holdings in Altria Group were worth $3,627,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the business. Financial Life Planners acquired a new stake in Altria Group during the 4th quarter worth about $25,000. VSM Wealth Advisory LLC purchased a new stake in Altria Group in the fourth quarter valued at $29,000. Marshall Investment Management LLC acquired a new stake in shares of Altria Group during the fourth quarter worth $32,000. Promus Capital LLC purchased a new position in Altria Group in the fourth quarter valued at about $33,000. Finally, CBIZ Investment Advisory Services LLC grew its holdings in shares of Altria Group by 895.7% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 697 shares of the company’s stock worth $36,000 after buying an additional 627 shares in the last quarter. 57.41% of the stock is currently owned by institutional investors.

Altria Group Stock Down 0.1 %

MO opened at $55.60 on Wednesday. Altria Group, Inc. has a 52-week low of $40.65 and a 52-week high of $60.18. The company has a market cap of $93.99 billion, a P/E ratio of 8.49, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54. The firm’s 50-day moving average price is $55.89 and its 200-day moving average price is $53.91.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. On average, research analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Announces Dividend

The firm also recently disclosed 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 yield of 7.34%. Altria Group’s dividend payout ratio (DPR) is presently 62.29%.

Analyst Upgrades and Downgrades

MO has been the topic of several research reports. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on shares of Altria Group in a research note on Tuesday, April 1st. UBS Group upped their target price on shares of Altria Group from $42.00 to $46.00 and gave the stock a “sell” rating in a research report on Tuesday, April 1st. Finally, Morgan Stanley reduced their price target on Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $54.00.

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.