Ridgecrest Wealth Partners LLC Lowers Stock Position in Altria Group, Inc. (NYSE:MO)

Ridgecrest Wealth Partners LLC trimmed its holdings in shares of Altria Group, Inc. (NYSE:MO) by 8.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,351 shares of the company’s stock after selling 500 shares during the quarter. Ridgecrest Wealth Partners LLC’s holdings in Altria Group were worth $280,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Aviance Capital Partners LLC increased its holdings in shares of Altria Group by 0.5% in the 3rd quarter. Aviance Capital Partners LLC now owns 40,362 shares of the company’s stock valued at $2,060,000 after acquiring an additional 191 shares during the period. Fragasso Financial Advisors Inc grew its stake in Altria Group by 3.3% in the fourth quarter. Fragasso Financial Advisors Inc now owns 6,302 shares of the company’s stock valued at $330,000 after purchasing an additional 199 shares during the last quarter. American Institute for Advanced Investment Management LLP raised its holdings in Altria Group by 3.5% in the third quarter. American Institute for Advanced Investment Management LLP now owns 5,860 shares of the company’s stock worth $299,000 after purchasing an additional 200 shares in the last quarter. First Citizens Financial Corp raised its holdings in Altria Group by 4.8% in the fourth quarter. First Citizens Financial Corp now owns 4,402 shares of the company’s stock worth $230,000 after purchasing an additional 200 shares in the last quarter. Finally, Laurel Wealth Advisors LLC lifted its position in shares of Altria Group by 4.6% during the fourth quarter. Laurel Wealth Advisors LLC now owns 4,592 shares of the company’s stock valued at $240,000 after buying an additional 200 shares during the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Trading Up 1.6 %

MO opened at $52.02 on Monday. Altria Group, Inc. has a 12-month low of $39.25 and a 12-month high of $58.03. The firm has a 50 day moving average of $53.94 and a two-hundred day moving average of $52.21. The firm has a market capitalization of $88.17 billion, a PE ratio of 8.79, a P/E/G ratio of 2.67 and a beta of 0.64.

Altria Group (NYSE:MO) last issued its earnings results on Thursday, October 31st. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.03. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. The firm had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $5.33 billion. During the same quarter last year, the company posted $1.28 earnings per share. The firm’s revenue was up 18.6% compared to the same quarter last year. As a group, analysts predict that Altria Group, Inc. will post 5.13 EPS for the current fiscal year.

Altria Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, December 26th were paid a $1.02 dividend. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.84%. Altria Group’s payout ratio is 68.92%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MO. Morgan Stanley started coverage on shares of Altria Group in a research report on Thursday, January 16th. They issued an “equal weight” rating and a $54.00 price objective on the stock. Barclays lifted their price target on shares of Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft increased their price objective on Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus boosted their target price on Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Bank of America raised Altria Group from a “neutral” rating to a “buy” rating and upped their target price for the company from $55.00 to $65.00 in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $53.43.

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.