Corient Private Wealth LLC Sells 60,912 Shares of Altria Group, Inc. (NYSE:MO)

Corient Private Wealth LLC reduced its holdings in shares of Altria Group, Inc. (NYSE:MO) by 11.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 491,228 shares of the company’s stock after selling 60,912 shares during the period. Corient Private Wealth LLC’s holdings in Altria Group were worth $25,687,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MO. Financial Life Planners bought a new position in shares of Altria Group in the fourth quarter worth approximately $25,000. True Wealth Design LLC grew its holdings in shares of Altria Group by 420.0% in the third quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after purchasing an additional 462 shares during the last quarter. Legacy Investment Solutions LLC bought a new position in shares of Altria Group in the third quarter worth approximately $34,000. Marshall Investment Management LLC bought a new position in shares of Altria Group in the fourth quarter worth approximately $32,000. Finally, Promus Capital LLC bought a new position in shares of Altria Group in the fourth quarter worth approximately $33,000. 57.41% of the stock is currently owned by institutional investors.

Altria Group Stock Down 1.0 %

NYSE:MO opened at $58.31 on Wednesday. The stock has a market cap of $98.59 billion, a P/E ratio of 8.90, a price-to-earnings-growth ratio of 2.89 and a beta of 0.56. The firm’s fifty day simple moving average is $54.03 and its 200 day simple moving average is $53.38. Altria Group, Inc. has a twelve month low of $40.65 and a twelve month high of $59.67.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, January 30th. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.28 by $0.01. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. On average, analysts expect that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, March 25th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 7.00%. The ex-dividend date is Tuesday, March 25th. Altria Group’s dividend payout ratio is currently 62.29%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MO. Morgan Stanley cut their target price on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Bank of America upgraded shares of Altria Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $55.00 to $65.00 in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Altria Group presently has an average rating of “Hold” and an average price target of $53.29.

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.