Mutual of America Capital Management LLC Sells 7,076 Shares of Altria Group, Inc. (NYSE:MO)

Mutual of America Capital Management LLC cut its stake in Altria Group, Inc. (NYSE:MO) by 3.4% during the fourth quarter, HoldingsChannel reports. The firm owned 202,746 shares of the company’s stock after selling 7,076 shares during the period. Mutual of America Capital Management LLC’s holdings in Altria Group were worth $10,602,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in MO. Financial Life Planners bought a new stake in Altria Group during the 4th quarter valued at $25,000. True Wealth Design LLC increased its stake 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 valued at $29,000 after buying an additional 462 shares during the period. Marshall Investment Management LLC bought a new stake in shares of Altria Group in the fourth quarter valued at about $32,000. Legacy Investment Solutions LLC purchased a new stake in Altria Group in the third quarter worth about $34,000. Finally, Kestra Investment Management LLC purchased a new stake in Altria Group in the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MO. Barclays boosted their price target on shares of Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a report on Wednesday, November 6th. Morgan Stanley reduced their price objective on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and lifted their price target for the company from $55.00 to $65.00 in a report on Friday, December 6th. Finally, StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $53.29.

Altria Group Trading Up 1.4 %

Shares of MO opened at $55.83 on Friday. The firm has a market cap of $94.61 billion, a PE ratio of 8.52, a P/E/G ratio of 2.89 and a beta of 0.64. Altria Group, Inc. has a 12 month low of $39.25 and a 12 month high of $58.03. The stock has a fifty day moving average price of $52.77 and a 200-day moving average price of $52.90.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. As a group, research analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, March 25th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 7.31%. The ex-dividend date is Tuesday, March 25th. Altria Group’s dividend payout ratio is presently 62.29%.

About Altria Group

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.