Gardner Russo & Quinn LLC Sells 19,272 Shares of Altria Group, Inc. (NYSE:MO)

Gardner Russo & Quinn LLC reduced its holdings in shares of Altria Group, Inc. (NYSE:MO) by 6.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 269,826 shares of the company’s stock after selling 19,272 shares during the quarter. Altria Group accounts for 0.2% of Gardner Russo & Quinn LLC’s portfolio, making the stock its 21st biggest holding. Gardner Russo & Quinn LLC’s holdings in Altria Group were worth $14,109,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Fisher Asset Management LLC increased its holdings in Altria Group by 24.9% during the third quarter. Fisher Asset Management LLC now owns 62,355 shares of the company’s stock valued at $3,183,000 after buying an additional 12,444 shares during the last quarter. Townsquare Capital LLC lifted its position in Altria Group by 20.6% during the third quarter. Townsquare Capital LLC now owns 74,589 shares of the company’s stock valued at $3,807,000 after purchasing an additional 12,727 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Altria Group by 7.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 635,775 shares of the company’s stock valued at $32,450,000 after purchasing an additional 45,407 shares during the period. Public Sector Pension Investment Board increased its position in Altria Group by 10.3% in the third quarter. Public Sector Pension Investment Board now owns 72,830 shares of the company’s stock worth $3,717,000 after buying an additional 6,800 shares in the last quarter. Finally, Providence Wealth Advisors LLC bought a new position in shares of Altria Group in the third quarter worth about $421,000. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Stock Performance

Shares of NYSE MO opened at $58.17 on Friday. The firm’s fifty day moving average is $55.07 and its two-hundred day moving average is $53.60. Altria Group, Inc. has a 52-week low of $40.65 and a 52-week high of $59.67. The company has a market cap of $98.35 billion, a P/E ratio of 8.88, a P/E/G ratio of 2.89 and a beta of 0.56.

Altria Group (NYSE:MO) last issued its earnings results on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate 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, analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $4.08 annualized dividend and a yield of 7.01%. Altria Group’s dividend payout ratio (DPR) is currently 62.29%.

Analyst Ratings Changes

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

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.