Captrust Financial Advisors Lowers Stock Holdings in Altria Group, Inc. (NYSE:MO)

Captrust Financial Advisors cut its holdings in shares of Altria Group, Inc. (NYSE:MO) by 13.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 519,996 shares of the company’s stock after selling 84,187 shares during the period. Captrust Financial Advisors’ holdings in Altria Group were worth $22,682,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Patten & Patten Inc. TN boosted its stake in shares of Altria Group by 1.6% in the first quarter. Patten & Patten Inc. TN now owns 14,293 shares of the company’s stock valued at $623,000 after purchasing an additional 224 shares during the period. Hazlett Burt & Watson Inc. raised its position in shares of Altria Group by 12.1% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,150 shares of the company’s stock valued at $95,000 after purchasing an additional 232 shares in the last quarter. Janiczek Wealth Management LLC boosted its stake in shares of Altria Group by 7.0% during the 1st quarter. Janiczek Wealth Management LLC now owns 3,767 shares of the company’s stock valued at $168,000 after buying an additional 247 shares during the last quarter. Triumph Capital Management grew its position in shares of Altria Group by 1.6% during the first quarter. Triumph Capital Management now owns 15,696 shares of the company’s stock worth $678,000 after buying an additional 250 shares in the last quarter. Finally, Carson Advisory Inc. increased its stake in shares of Altria Group by 4.2% in the first quarter. Carson Advisory Inc. now owns 6,343 shares of the company’s stock worth $277,000 after buying an additional 254 shares during the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Stock Performance

Shares of MO traded up $0.14 during midday trading on Tuesday, hitting $50.67. 3,601,001 shares of the stock traded hands, compared to its average volume of 10,644,712. The business’s 50 day moving average price is $46.74 and its two-hundred day moving average price is $43.76. The firm has a market capitalization of $87.03 billion, a PE ratio of 10.57, a price-to-earnings-growth ratio of 3.09 and a beta of 0.66. Altria Group, Inc. has a 1-year low of $39.06 and a 1-year high of $50.85.

Altria Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Friday, June 14th were issued a dividend of $0.98 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 7.74%. Altria Group’s dividend payout ratio (DPR) is presently 82.01%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Argus upgraded shares of Altria Group to a “hold” rating in a research note on Friday, May 31st. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a report on Friday, June 28th. Bank of America upped their price target on Altria Group from $47.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Finally, UBS Group boosted their target price on shares of Altria Group from $36.10 to $36.50 and gave the company a “sell” rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $47.10.

Insider Buying and Selling

In other news, VP Charles N. Whitaker sold 22,487 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $43.95, for a total transaction of $988,303.65. Following the sale, the vice president now owns 173,485 shares in the company, valued at $7,624,665.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Altria Group Company 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.