Meitav Dash Investments Ltd. decreased its position in shares of Altria Group, Inc. (NYSE:MO – Get Rating) by 20.6% during the first quarter, Holdings Channel reports. The institutional investor owned 60,007 shares of the company’s stock after selling 15,593 shares during the period. Meitav Dash Investments Ltd.’s holdings in Altria Group were worth $3,128,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the company. Sierra Capital LLC increased its holdings in Altria Group by 12.6% in the 4th quarter. Sierra Capital LLC now owns 1,788 shares of the company’s stock valued at $85,000 after acquiring an additional 200 shares during the last quarter. Orca Investment Management LLC increased its holdings in Altria Group by 1.9% in the 1st quarter. Orca Investment Management LLC now owns 10,745 shares of the company’s stock valued at $561,000 after acquiring an additional 201 shares during the last quarter. Ameritas Advisory Services LLC increased its holdings in Altria Group by 0.5% in the 1st quarter. Ameritas Advisory Services LLC now owns 38,866 shares of the company’s stock valued at $2,031,000 after acquiring an additional 209 shares during the last quarter. Radnor Capital Management LLC increased its holdings in Altria Group by 1.1% in the 1st quarter. Radnor Capital Management LLC now owns 18,978 shares of the company’s stock valued at $992,000 after acquiring an additional 210 shares during the last quarter. Finally, Key Financial Inc increased its holdings in Altria Group by 5.8% in the 1st quarter. Key Financial Inc now owns 3,859 shares of the company’s stock valued at $202,000 after acquiring an additional 212 shares during the last quarter. Hedge funds and other institutional investors own 59.05% of the company’s stock.
Altria Group Stock Down 0.3 %
Shares of MO stock opened at $44.10 on Friday. The stock has a market cap of $79.42 billion, a PE ratio of 45.46, a price-to-earnings-growth ratio of 2.28 and a beta of 0.62. The business has a 50-day simple moving average of $45.15 and a 200-day simple moving average of $49.97. Altria Group, Inc. has a 52-week low of $41.00 and a 52-week high of $57.05.
Altria Group Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 11th. Stockholders of record on Wednesday, June 15th were issued a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, June 14th. This represents a $3.60 annualized dividend and a dividend yield of 8.16%. Altria Group’s dividend payout ratio (DPR) is presently 371.13%.
Analyst Upgrades and Downgrades
MO has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Altria Group from $60.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, July 1st. Barclays downgraded shares of Altria Group from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $53.00 to $36.00 in a research note on Wednesday, June 29th. Cowen decreased their price target on shares of Altria Group from $56.00 to $45.00 and set a “market perform” rating for the company in a research note on Monday, June 27th. Morgan Stanley upgraded Altria Group from an “underweight” rating to an “equal weight” rating and reduced their price objective for the stock from $47.00 to $43.00 in a report on Friday, June 24th. Finally, Cowen reduced their price objective on Altria Group from $56.00 to $45.00 and set a “market perform” rating on the stock in a report on Monday, June 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $47.00.
Altria Group Company Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company provides cigarettes primarily under the Marlboro brand; cigars and pipe tobacco principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands, as well as provides on! oral nicotine pouches.
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