Sandy Spring Bank Has $1.06 Million Stake in Altria Group, Inc. (NYSE:MO)

Sandy Spring Bank cut its stake in shares of Altria Group, Inc. (NYSE:MO) by 1.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,250 shares of the company’s stock after selling 222 shares during the quarter. Sandy Spring Bank’s holdings in Altria Group were worth $1,059,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Financial Life Planners acquired a new position in Altria Group during the 4th quarter worth about $25,000. True Wealth Design LLC lifted its holdings in Altria Group by 420.0% during the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after buying an additional 462 shares during the period. VSM Wealth Advisory LLC acquired a new position in Altria Group during the 4th quarter worth about $29,000. Marshall Investment Management LLC acquired a new position in Altria Group during the 4th quarter worth about $32,000. Finally, Promus Capital LLC acquired a new position in Altria Group during the 4th quarter worth about $33,000. 57.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on MO shares. Morgan Stanley cut their target price on Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Bank of America raised Altria Group from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $55.00 to $65.00 in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $53.29.

Altria Group Price Performance

Shares of NYSE:MO opened at $58.09 on Friday. Altria Group, Inc. has a 1 year low of $40.65 and a 1 year high of $59.67. The company has a market capitalization of $98.21 billion, a price-to-earnings ratio of 8.87, a P/E/G ratio of 2.89 and a beta of 0.56. The business’s 50-day moving average is $54.29 and its 200-day moving average is $53.45.

Altria Group (NYSE:MO) last issued its 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%. Analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th will be given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 7.02%. The ex-dividend date of this dividend is Tuesday, March 25th. Altria Group’s payout ratio is 62.29%.

Altria Group 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.