Altria Group, Inc. $MO Shares Sold by Formidable Asset Management LLC

Formidable Asset Management LLC decreased its holdings in Altria Group, Inc. (NYSE:MO) by 19.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,694 shares of the company’s stock after selling 8,597 shares during the quarter. Formidable Asset Management LLC’s holdings in Altria Group were worth $2,000,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Darwin Wealth Management LLC acquired a new stake in shares of Altria Group in the second quarter worth approximately $27,000. EMC Capital Management acquired a new position in Altria Group during the third quarter worth approximately $33,000. Gould Capital LLC acquired a new position in Altria Group during the third quarter worth approximately $39,000. Elevation Wealth Partners LLC raised its stake in Altria Group by 79.0% during the fourth quarter. Elevation Wealth Partners LLC now owns 630 shares of the company’s stock worth $36,000 after purchasing an additional 278 shares during the period. Finally, Physician Wealth Advisors Inc. raised its stake in Altria Group by 634.5% during the third quarter. Physician Wealth Advisors Inc. now owns 639 shares of the company’s stock worth $42,000 after purchasing an additional 552 shares during the period. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Stock Up 0.4%

Shares of MO stock opened at $65.73 on Friday. The stock has a market cap of $109.89 billion, a price-to-earnings ratio of 15.99, a price-to-earnings-growth ratio of 2.80 and a beta of 0.41. Altria Group, Inc. has a fifty-two week low of $52.82 and a fifty-two week high of $70.51. The firm’s 50 day moving average price is $65.98 and its two-hundred day moving average price is $62.53.

Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, January 29th. The company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.02). Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.The business had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same quarter in the prior year, the firm earned $1.30 earnings per share. Altria Group’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, March 25th will be issued a $1.06 dividend. This represents a $4.24 annualized dividend and a yield of 6.5%. The ex-dividend date is Wednesday, March 25th. Altria Group’s dividend payout ratio is currently 103.16%.

Insider Transactions at Altria Group

In other Altria Group news, SVP Charles N. Whitaker sold 27,908 shares of the firm’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $67.57, for a total value of $1,885,743.56. Following the transaction, the senior vice president directly owned 180,869 shares of the company’s stock, valued at $12,221,318.33. This trade represents a 13.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on MO shares. Argus raised shares of Altria Group to a “hold” rating in a research note on Tuesday, January 13th. Stifel Nicolaus cut their target price on Altria Group from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. UBS Group lifted their target price on Altria Group from $67.00 to $74.00 and gave the company a “buy” rating in a report on Monday, March 9th. Jefferies Financial Group boosted their price target on Altria Group from $47.00 to $50.00 and gave the company an “underperform” rating in a research report on Wednesday, March 4th. Finally, Citigroup upped their price target on Altria Group from $57.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, February 9th. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Altria Group has an average rating of “Hold” and a consensus price target of $65.75.

About Altria Group

Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.