FineMark National Bank & Trust Trims Stock Holdings in Altria Group, Inc. (NYSE:MO)

FineMark National Bank & Trust lessened its stake in shares of Altria Group, Inc. (NYSE:MO) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,405 shares of the company’s stock after selling 1,037 shares during the quarter. FineMark National Bank & Trust’s holdings in Altria Group were worth $3,211,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Financial Life Planners acquired a new stake in shares of Altria Group in the fourth quarter valued at $25,000. True Wealth Design LLC boosted its holdings in Altria Group by 420.0% during the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock valued at $29,000 after acquiring an additional 462 shares during the period. VSM Wealth Advisory LLC acquired a new position in Altria Group in the 4th quarter valued at about $29,000. Marshall Investment Management LLC purchased a new stake in Altria Group during the fourth quarter worth about $32,000. Finally, Promus Capital LLC acquired a new stake in shares of Altria Group during the fourth quarter worth about $33,000. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Altria Group Stock Performance

Shares of NYSE MO opened at $56.73 on Wednesday. The stock’s 50-day simple moving average is $54.66 and its 200-day simple moving average is $53.51. The firm has a market capitalization of $95.91 billion, a PE ratio of 8.66, a price-to-earnings-growth ratio of 2.89 and a beta of 0.56. Altria Group, Inc. has a fifty-two week low of $40.65 and a fifty-two week high of $59.67.

Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, January 30th. The company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. On average, sell-side analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th will be given a $1.02 dividend. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a yield of 7.19%. Altria Group’s dividend payout ratio (DPR) is presently 62.29%.

Analyst Ratings Changes

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

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.