Corebridge Financial Inc. Trims Stock Position in Altria Group, Inc. (NYSE:MO)

Corebridge Financial Inc. cut its holdings in Altria Group, Inc. (NYSE:MO) by 2.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 402,502 shares of the company’s stock after selling 8,431 shares during the period. Corebridge Financial Inc.’s holdings in Altria Group were worth $21,047,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in MO. Financial Life Planners purchased a new position in shares of Altria Group during the 4th quarter worth $25,000. VSM Wealth Advisory LLC acquired a new position in Altria Group in the fourth quarter valued at about $29,000. True Wealth Design LLC boosted its stake in Altria Group by 420.0% during the third quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after buying an additional 462 shares during the period. Legacy Investment Solutions LLC purchased a new position in Altria Group during the third quarter worth about $34,000. Finally, Marshall Investment Management LLC acquired a new stake in shares of Altria Group during the fourth quarter valued at about $32,000. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Altria Group Stock Up 0.0 %

NYSE:MO opened at $57.62 on Tuesday. The company has a market cap of $97.41 billion, a price-to-earnings ratio of 8.80, a price-to-earnings-growth ratio of 2.89 and a beta of 0.56. Altria Group, Inc. has a 52 week low of $40.65 and a 52 week high of $59.67. The company has a fifty day simple moving average of $54.56 and a two-hundred day simple moving average of $53.48.

Altria Group (NYSE:MO) last released its earnings results on Thursday, January 30th. The company reported $1.29 EPS for the quarter, topping 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 year.

Altria Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th will be paid a dividend of $1.02 per share. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.08%. Altria Group’s payout ratio is 62.29%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MO shares. Morgan Stanley lowered their price objective on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and raised their price target for the stock from $55.00 to $65.00 in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $53.29.

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.