Avaii Wealth Management LLC Sells 799 Shares of Altria Group, Inc. (NYSE:MO)

Avaii Wealth Management LLC decreased its holdings in Altria Group, Inc. (NYSE:MO) by 6.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,619 shares of the company’s stock after selling 799 shares during the quarter. Avaii Wealth Management LLC’s holdings in Altria Group were worth $469,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Choreo LLC raised its holdings in shares of Altria Group by 13.8% during the fourth quarter. Choreo LLC now owns 41,136 shares of the company’s stock worth $1,700,000 after purchasing an additional 4,986 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its holdings in shares of Altria Group by 10.5% during the fourth quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 22,489 shares of the company’s stock worth $907,000 after purchasing an additional 2,130 shares during the last quarter. Gilbert & Cook Inc. increased its holdings in Altria Group by 3.3% in the fourth quarter. Gilbert & Cook Inc. now owns 12,928 shares of the company’s stock valued at $522,000 after buying an additional 413 shares in the last quarter. Silver Oak Securities Incorporated increased its holdings in Altria Group by 13.5% in the fourth quarter. Silver Oak Securities Incorporated now owns 11,550 shares of the company’s stock valued at $466,000 after buying an additional 1,372 shares in the last quarter. Finally, Paradigm Financial Partners LLC increased its holdings in Altria Group by 9.7% in the fourth quarter. Paradigm Financial Partners LLC now owns 30,728 shares of the company’s stock valued at $1,240,000 after buying an additional 2,714 shares in the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Stock Performance

Altria Group stock traded up $0.32 during trading hours on Monday, reaching $43.70. 3,286,159 shares of the stock were exchanged, compared to its average volume of 11,909,942. The stock has a market cap of $75.06 billion, a P/E ratio of 9.16, a P/E/G ratio of 2.60 and a beta of 0.65. Altria Group, Inc. has a 52-week low of $39.06 and a 52-week high of $48.04. The firm’s 50 day moving average is $42.18 and its 200 day moving average is $41.45.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, April 25th. The company reported $1.15 EPS for the quarter, hitting analysts’ consensus estimates of $1.15. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.71 billion. Altria Group had a net margin of 34.81% and a negative return on equity of 222.80%. Altria Group’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.18 EPS. Equities research analysts expect that Altria Group, Inc. will post 5.11 EPS for the current fiscal year.

Altria Group declared that its board has authorized a stock buyback plan on Thursday, February 1st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 1.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Altria Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, March 25th will be issued a $0.98 dividend. The ex-dividend date is Friday, March 22nd. This represents a $3.92 dividend on an annualized basis and a dividend yield of 8.97%. Altria Group’s dividend payout ratio is presently 82.01%.

Wall Street Analyst Weigh In

Several research firms have weighed in on MO. Stifel Nicolaus reiterated a “buy” rating and issued a $50.00 target price on shares of Altria Group in a report on Monday, March 25th. StockNews.com downgraded shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Sunday, April 14th. Finally, UBS Group boosted their price target on shares of Altria Group from $36.10 to $36.50 and gave the company a “sell” rating in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $46.90.

Altria Group 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.