Altria Group, Inc. $MO Shares Sold by Wealthfront Advisers LLC

Wealthfront Advisers LLC reduced its position in shares of Altria Group, Inc. (NYSE:MO) by 4.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 292,598 shares of the company’s stock after selling 12,212 shares during the period. Wealthfront Advisers LLC’s holdings in Altria Group were worth $16,871,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Certuity LLC increased its position in shares of Altria Group by 21.2% during the fourth quarter. Certuity LLC now owns 3,675 shares of the company’s stock valued at $212,000 after acquiring an additional 643 shares during the last quarter. Ares Financial Consulting LLC purchased a new stake in shares of Altria Group during the 4th quarter worth approximately $299,000. R Squared Ltd purchased a new stake in shares of Altria Group during the 4th quarter worth approximately $844,000. Comerica Bank raised its position in Altria Group by 0.7% in the 4th quarter. Comerica Bank now owns 573,440 shares of the company’s stock valued at $33,065,000 after purchasing an additional 3,750 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC raised its position in Altria Group by 29.7% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 60,973 shares of the company’s stock worth $3,580,000 after buying an additional 13,952 shares during the last quarter. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Altria Group Price Performance

Altria Group stock opened at $67.76 on Wednesday. The company has a market cap of $113.25 billion, a PE ratio of 16.49, a P/E/G ratio of 2.64 and a beta of 0.41. The company has a fifty day moving average price of $66.58 and a two-hundred day moving average price of $62.57. Altria Group, Inc. has a 12 month low of $54.70 and a 12 month high of $70.51.

Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, January 29th. The company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $5.02 billion. During the same period in the prior year, the firm earned $1.30 EPS. The business’s revenue for the quarter was down .5% compared to the same quarter last year. Equities research analysts anticipate that Altria Group, Inc. will post 5.61 earnings per share for the current year.

Altria Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Wednesday, March 25th will be issued a dividend of $1.06 per share. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $4.24 annualized dividend and a dividend yield of 6.3%. Altria Group’s payout ratio is 103.16%.

Insider Activity

In related news, SVP Charles N. Whitaker sold 27,908 shares of Altria Group stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $67.57, for a total transaction of $1,885,743.56. Following the sale, the senior vice president directly owned 180,869 shares in the company, valued at $12,221,318.33. The trade was a 13.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Bank of America increased their price objective on shares of Altria Group from $72.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, April 10th. Citigroup upped their target price on shares of Altria Group from $57.00 to $65.00 and gave the company a “neutral” rating in a report on Monday, February 9th. Jefferies Financial Group increased their price objective on shares of Altria Group from $47.00 to $50.00 and gave the stock an “underperform” rating in a report on Wednesday, March 4th. Barclays raised their price target on shares of Altria Group from $57.00 to $63.00 and gave the company an “underweight” rating in a report on Monday, February 23rd. Finally, UBS Group lifted their price objective on shares of Altria Group from $67.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Altria Group presently has an average rating of “Hold” and an average target price of $65.88.

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.