Graypoint LLC Has $375,000 Stock Holdings in Altria Group, Inc. (NYSE:MO)

Graypoint LLC lessened its position in shares of Altria Group, Inc. (NYSE:MO) by 20.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 9,300 shares of the company’s stock after selling 2,424 shares during the quarter. Graypoint LLC’s holdings in Altria Group were worth $375,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Loomis Sayles & Co. L P acquired a new stake in shares of Altria Group during the 1st quarter valued at about $25,000. Altshuler Shaham Ltd acquired a new position in shares of Altria Group in the 3rd quarter worth approximately $26,000. Nemes Rush Group LLC lifted its position in shares of Altria Group by 103.2% during the 3rd quarter. Nemes Rush Group LLC now owns 636 shares of the company’s stock worth $27,000 after buying an additional 323 shares during the period. ZRC Wealth Management LLC increased its position in shares of Altria Group by 67.6% during the 4th quarter. ZRC Wealth Management LLC now owns 677 shares of the company’s stock worth $28,000 after purchasing an additional 273 shares in the last quarter. Finally, Legacy Financial Group LLC bought a new position in Altria Group during the 3rd quarter valued at about $30,000. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Altria Group Stock Down 0.9 %

Shares of Altria Group stock opened at $41.05 on Monday. Altria Group, Inc. has a 12 month low of $39.06 and a 12 month high of $48.04. The business has a fifty day simple moving average of $41.82 and a 200 day simple moving average of $41.45. The stock has a market cap of $70.51 billion, a PE ratio of 8.98, a price-to-earnings-growth ratio of 2.47 and a beta of 0.65.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, February 1st. The company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.01. Altria Group had a net margin of 33.21% and a negative return on equity of 244.55%. The business had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.06 billion. During the same period last year, the company posted $1.18 EPS. Altria Group’s revenue for the quarter was down 1.2% on a year-over-year basis. Analysts expect that Altria Group, Inc. will post 5.09 EPS for the current fiscal year.

Altria Group announced that its Board of Directors has initiated a stock buyback program on Thursday, February 1st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to buy up to 1.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Altria Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, March 25th will be issued a dividend of $0.98 per share. The ex-dividend date is Friday, March 22nd. This represents a $3.92 annualized dividend and a yield of 9.55%. Altria Group’s dividend payout ratio is presently 85.78%.

Analysts Set New Price Targets

Several analysts have recently weighed in on MO shares. UBS Group lifted their target price on shares of Altria Group from $36.10 to $36.50 and gave the company a “sell” rating in a research note on Monday, April 8th. StockNews.com cut shares of Altria Group from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $50.00 price objective on shares of Altria Group in a research report on Monday, March 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $46.90.

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.