Altria Group, Inc. (NYSE:MO) Shares Sold by LifePro Asset Management

LifePro Asset Management trimmed its holdings in Altria Group, Inc. (NYSE:MO) by 7.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,118 shares of the company’s stock after selling 3,404 shares during the period. Altria Group accounts for about 1.4% of LifePro Asset Management’s holdings, making the stock its 24th biggest holding. LifePro Asset Management’s holdings in Altria Group were worth $2,303,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in MO. Maryland Capital Advisors Inc. lifted its holdings in Altria Group by 154.4% during the 1st quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock worth $25,000 after buying an additional 349 shares in the last quarter. BNP Paribas purchased a new position in Altria Group in the first quarter worth $27,000. MFA Wealth Advisors LLC acquired a new stake in shares of Altria Group during the 2nd quarter valued at approximately $27,000. Pineridge Advisors LLC purchased a new stake in shares of Altria Group in the 4th quarter worth about $28,000. Finally, Westend Capital Management LLC acquired a new position in shares of Altria Group in the first quarter worth $29,000. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MO shares. Stifel Nicolaus lifted their target price on Altria Group from $50.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, August 1st. StockNews.com downgraded Altria Group from a “buy” rating to a “hold” rating in a report on Tuesday. Bank of America boosted their price objective on shares of Altria Group from $52.00 to $57.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Citigroup lifted their target price on Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, UBS Group raised their price target on Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Altria Group currently has an average rating of “Hold” and an average target price of $50.17.

Altria Group Price Performance

NYSE MO opened at $49.67 on Friday. The company has a market capitalization of $84.75 billion, a P/E ratio of 8.56, a PEG ratio of 2.90 and a beta of 0.65. Altria Group, Inc. has a 12 month low of $39.06 and a 12 month high of $54.95. The company’s 50 day simple moving average is $51.58 and its 200 day simple moving average is $47.47.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). Altria Group had a net margin of 42.25% and a negative return on equity of 232.55%. The firm had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same period in the prior year, the company posted $1.31 earnings per share. Altria Group’s quarterly revenue was up 14.2% compared to the same quarter last year. On average, analysts anticipate that Altria Group, Inc. will post 5.11 earnings per share for the current year.

Altria Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 16th were issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 8.21%. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend was Monday, September 16th. Altria Group’s dividend payout ratio (DPR) is currently 70.34%.

Altria Group 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.