Flputnam Investment Management Co. Sells 4,694 Shares of Altria Group, Inc. (NYSE:MO)

Flputnam Investment Management Co. lessened its stake in shares of Altria Group, Inc. (NYSE:MO) by 27.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,345 shares of the company’s stock after selling 4,694 shares during the period. Flputnam Investment Management Co.’s holdings in Altria Group were worth $646,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Life Planners purchased a new position in shares of Altria Group in the fourth quarter valued at $25,000. True Wealth Design LLC grew its stake in shares of Altria Group by 420.0% in the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after buying an additional 462 shares in the last quarter. Marshall Investment Management LLC bought a new stake in shares of Altria Group in the 4th quarter worth about $32,000. Legacy Investment Solutions LLC purchased a new stake in shares of Altria Group during the 3rd quarter valued at about $34,000. Finally, Kestra Investment Management LLC bought a new position in shares of Altria Group in the 4th quarter valued at about $40,000. Institutional investors own 57.41% of the company’s stock.

Altria Group Stock Up 2.6 %

Altria Group stock opened at $57.33 on Tuesday. Altria Group, Inc. has a twelve month low of $39.25 and a twelve month high of $58.03. The business has a fifty day moving average of $52.84 and a two-hundred day moving average of $52.96. The firm has a market cap of $96.93 billion, a P/E ratio of 8.75, a P/E/G ratio of 2.89 and a beta of 0.64.

Altria Group (NYSE:MO) last posted its earnings results on Thursday, January 30th. The company reported $1.29 earnings per share (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%. Equities analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Announces Dividend

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 given 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 yield of 7.12%. Altria Group’s payout ratio is 62.29%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MO shares. Morgan Stanley reduced their price objective on Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $55.00 to $65.00 in a report on Friday, December 6th. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Finally, Barclays boosted their price objective on shares of Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Altria Group presently has an average 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.