Howe & Rusling Inc. Sells 740 Shares of Altria Group, Inc. (NYSE:MO)

Howe & Rusling Inc. trimmed its holdings in Altria Group, Inc. (NYSE:MO) by 8.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,532 shares of the company’s stock after selling 740 shares during the period. Howe & Rusling Inc.’s holdings in Altria Group were worth $446,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Financial Life Planners purchased a new position in Altria Group in the 4th quarter worth approximately $25,000. True Wealth Design LLC raised its position in shares of Altria Group by 420.0% during the third quarter. True Wealth Design LLC now owns 572 shares of the company’s stock valued at $29,000 after buying an additional 462 shares during the last quarter. VSM Wealth Advisory LLC purchased a new position in shares of Altria Group in the fourth quarter worth $29,000. Marshall Investment Management LLC bought a new position in shares of Altria Group during the fourth quarter worth $32,000. Finally, Promus Capital LLC purchased a new position in Altria Group during the fourth quarter valued at $33,000. Institutional investors own 57.41% of the company’s stock.

Altria Group Price Performance

Shares of NYSE MO opened at $58.32 on Friday. Altria Group, Inc. has a 1-year low of $40.65 and a 1-year high of $59.67. The business’s 50 day moving average is $54.94 and its two-hundred day moving average is $53.57. The stock has a market capitalization of $98.60 billion, a P/E ratio of 8.90, a PEG ratio of 2.89 and a beta of 0.56.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.29 earnings per share 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%. As a group, equities research analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The company also recently declared 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 of this dividend is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.00%. Altria Group’s dividend payout ratio is presently 62.29%.

Analysts Set New Price Targets

Several analysts have commented on MO shares. Bank of America upgraded shares of Altria Group from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $55.00 to $65.00 in a research note 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 on the stock in a research report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock 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.