Highland Capital Management LLC Sells 1,517 Shares of Altria Group, Inc. (NYSE:MO)

Highland Capital Management LLC trimmed its holdings in Altria Group, Inc. (NYSE:MO) by 1.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,496 shares of the company’s stock after selling 1,517 shares during the quarter. Highland Capital Management LLC’s holdings in Altria Group were worth $4,000,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. True Wealth Design LLC boosted 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 worth $29,000 after acquiring an additional 462 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in Altria Group in the 3rd quarter worth $34,000. Peterson Financial Group Inc. bought a new position in shares of Altria Group during the 3rd quarter valued at about $41,000. Fairman Group LLC grew its position in shares of Altria Group by 85.1% during the third quarter. Fairman Group LLC now owns 892 shares of the company’s stock valued at $46,000 after purchasing an additional 410 shares in the last quarter. Finally, Asset Dedication LLC lifted its position in shares of Altria Group by 27.7% in the fourth quarter. Asset Dedication LLC now owns 921 shares of the company’s stock worth $48,000 after buying an additional 200 shares in the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Stock Up 0.4 %

Shares of Altria Group stock opened at $52.81 on Thursday. Altria Group, Inc. has a 52 week low of $39.25 and a 52 week high of $58.03. The company has a market capitalization of $89.50 billion, a PE ratio of 8.92, a price-to-earnings-growth ratio of 2.67 and a beta of 0.64. The stock’s fifty day moving average is $53.81 and its two-hundred day moving average is $52.29.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.35 by $0.03. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. The company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $5.33 billion. During the same quarter last year, the firm posted $1.28 EPS. The firm’s revenue was up 18.6% compared to the same quarter last year. As a group, research analysts anticipate that Altria Group, Inc. will post 5.13 earnings per share for the current year.

Altria Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, December 26th were given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.73%. The ex-dividend date was Thursday, December 26th. Altria Group’s dividend payout ratio (DPR) is presently 68.92%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Citigroup lifted their price objective on Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Barclays boosted their target price on shares of Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft lifted their price target on Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus raised their price objective on Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $55.00 to $65.00 in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $53.43.

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.