Pinnacle Financial Partners Inc. lessened its holdings in shares of Altria Group, Inc. (NYSE:MO) by 9.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 93,855 shares of the company’s stock after selling 10,245 shares during the period. Pinnacle Financial Partners Inc.’s holdings in Altria Group were worth $4,802,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in MO. TRU Independence Asset Management 2 LLC bought a new stake in Altria Group in the fourth quarter valued at approximately $25,000. Encompass Wealth Advisors LLC bought a new position in Altria Group during the fourth quarter worth about $25,000. Freedman Financial Associates Inc. acquired a new position in Altria Group in the fourth quarter valued at about $25,000. Financial Avengers Inc. acquired a new stake in shares of Altria Group during the fourth quarter worth about $29,000. Finally, Canton Hathaway LLC lifted its holdings in shares of Altria Group by 60.0% during the 1st quarter. Canton Hathaway LLC now owns 800 shares of the company’s stock valued at $41,000 after purchasing an additional 300 shares in the last quarter. 62.18% of the stock is owned by institutional investors.

MO opened at $47.19 on Wednesday. Altria Group, Inc. has a fifty-two week low of $35.02 and a fifty-two week high of $52.59. The company has a debt-to-equity ratio of 8.59, a quick ratio of 0.55 and a current ratio of 0.77. The company has a market capitalization of $87.41 billion, a P/E ratio of 131.09, a P/E/G ratio of 2.25 and a beta of 0.54. The stock has a fifty day moving average of $49.83 and a 200-day moving average of $43.24.

Altria Group (NYSE:MO) last posted its earnings results on Wednesday, January 27th. The company reported $0.99 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.02 by ($0.03). Altria Group had a return on equity of 148.93% and a net margin of 2.84%. The firm had revenue of $5.06 billion for the quarter, compared to analyst estimates of $4.95 billion. During the same period in the prior year, the business posted $1.02 EPS. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts predict that Altria Group, Inc. will post 4.37 earnings per share for the current fiscal year.

Altria Group announced that its board has authorized a share buyback program on Thursday, January 28th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 30th. Stockholders of record on Thursday, March 25th will be issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 7.29%. The ex-dividend date is Wednesday, March 24th. Altria Group’s dividend payout ratio is currently 81.52%.

A number of research firms recently issued reports on MO. UBS Group cut Altria Group from a “buy” rating to a “neutral” rating and set a $46.00 target price for the company. in a research note on Tuesday, March 16th. Deutsche Bank Aktiengesellschaft increased their target price on Altria Group from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, March 19th. Stifel Nicolaus reissued a “buy” rating and set a $56.00 target price on shares of Altria Group in a research note on Friday, April 16th. Piper Sandler reaffirmed a “buy” rating and set a $57.00 price target on shares of Altria Group in a research note on Monday, April 5th. Finally, TheStreet raised shares of Altria Group from a “c” rating to a “b-” rating in a research note on Thursday, January 28th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $50.30.

About Altria Group

Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, oral tobacco products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands, as well as provides on! oral nicotine pouches.

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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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