CX Institutional Sells 4,443 Shares of Altria Group, Inc. (NYSE:MO)

CX Institutional lowered its stake in shares of Altria Group, Inc. (NYSE:MO) by 4.9% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 86,735 shares of the company’s stock after selling 4,443 shares during the period. CX Institutional’s holdings in Altria Group were worth $3,951,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. McElhenny Sheffield Capital Management LLC lifted its stake in shares of Altria Group by 79.1% in the 2nd quarter. McElhenny Sheffield Capital Management LLC now owns 17,156 shares of the company’s stock worth $781,000 after purchasing an additional 7,577 shares during the period. Csenge Advisory Group lifted its stake in shares of Altria Group by 6.6% in the 2nd quarter. Csenge Advisory Group now owns 40,895 shares of the company’s stock worth $1,863,000 after purchasing an additional 2,517 shares during the period. Fortitude Family Office LLC lifted its stake in shares of Altria Group by 254.0% in the 2nd quarter. Fortitude Family Office LLC now owns 4,680 shares of the company’s stock worth $213,000 after purchasing an additional 3,358 shares during the period. Simplicity Wealth LLC lifted its stake in shares of Altria Group by 16.4% in the 2nd quarter. Simplicity Wealth LLC now owns 56,185 shares of the company’s stock worth $2,559,000 after purchasing an additional 7,913 shares during the period. Finally, Adams Asset Advisors LLC lifted its stake in shares of Altria Group by 1.2% in the 2nd quarter. Adams Asset Advisors LLC now owns 272,452 shares of the company’s stock worth $12,410,000 after purchasing an additional 3,278 shares during the period. Institutional investors own 57.41% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on MO. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a report on Friday, June 28th. Stifel Nicolaus increased their price objective on shares of Altria Group from $50.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Argus raised shares of Altria Group to a “hold” rating in a report on Friday, May 31st. Finally, Bank of America increased their price objective on shares of Altria Group from $47.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $47.90.

Altria Group Price Performance

MO opened at $50.26 on Friday. The business’s 50-day moving average is $47.43 and its two-hundred day moving average is $44.23. Altria Group, Inc. has a 1 year low of $39.06 and a 1 year high of $51.40. The firm has a market capitalization of $86.33 billion, a PE ratio of 10.55, a price-to-earnings-growth ratio of 3.07 and a beta of 0.66.

Altria Group (NYSE:MO) last posted its earnings results on Wednesday, July 31st. The company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter last year, the firm earned $1.31 EPS. Altria Group’s revenue for the quarter was up 14.2% on a year-over-year basis. As a group, sell-side analysts expect that Altria Group, Inc. will post 5.11 EPS for the current year.

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 paid 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 7.80%. Altria Group’s payout ratio is 82.01%.

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.