Prossimo Advisors LLC Has $440,000 Stock Position in Altria Group, Inc. (NYSE:MO)

Prossimo Advisors LLC lessened its holdings in Altria Group, Inc. (NYSE:MO) by 3.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,408 shares of the company’s stock after selling 313 shares during the quarter. Prossimo Advisors LLC’s holdings in Altria Group were worth $440,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Aviance Capital Partners LLC increased its position in shares of Altria Group by 0.5% during the 3rd quarter. Aviance Capital Partners LLC now owns 40,362 shares of the company’s stock valued at $2,060,000 after purchasing an additional 191 shares during the last quarter. Horst & Graben Wealth Management LLC grew its position in Altria Group by 1.5% during the fourth quarter. Horst & Graben Wealth Management LLC now owns 13,015 shares of the company’s stock valued at $681,000 after buying an additional 198 shares during the period. Fragasso Financial Advisors Inc increased its holdings in Altria Group by 3.3% during the fourth quarter. Fragasso Financial Advisors Inc now owns 6,302 shares of the company’s stock worth $330,000 after buying an additional 199 shares during the last quarter. American Institute for Advanced Investment Management LLP raised its position in Altria Group by 3.5% in the third quarter. American Institute for Advanced Investment Management LLP now owns 5,860 shares of the company’s stock worth $299,000 after acquiring an additional 200 shares during the period. Finally, Ridgecrest Wealth Partners LLC boosted its stake in Altria Group by 3.5% in the third quarter. Ridgecrest Wealth Partners LLC now owns 5,851 shares of the company’s stock valued at $299,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 57.41% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MO. Bank of America upgraded shares of Altria Group from a “neutral” rating to a “buy” rating and raised their price target for the stock from $55.00 to $65.00 in a research note on Friday, December 6th. Barclays increased their target price on shares of Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, 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. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $53.29.

Altria Group Trading Down 1.1 %

MO stock opened at $52.70 on Wednesday. The firm has a 50 day moving average of $52.65 and a 200-day moving average of $52.65. The firm has a market capitalization of $89.31 billion, a P/E ratio of 8.05, a price-to-earnings-growth ratio of 2.83 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.

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 net margin of 46.90% and a negative return on equity of 258.72%. Sell-side analysts predict that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 26th were paid a $1.02 dividend. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $4.08 dividend on an annualized basis and a yield of 7.74%. Altria Group’s dividend payout ratio is currently 62.29%.

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.