SteelPeak Wealth LLC Trims Stock Holdings in Altria Group, Inc. $MO

SteelPeak Wealth LLC lowered its stake in Altria Group, Inc. (NYSE:MO) by 67.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,073 shares of the company’s stock after selling 104,914 shares during the quarter. SteelPeak Wealth LLC’s holdings in Altria Group were worth $2,999,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in MO. Darwin Wealth Management LLC purchased a new stake in Altria Group in the 2nd quarter worth approximately $27,000. EMC Capital Management bought a new stake in Altria Group during the 3rd quarter worth approximately $33,000. Elevation Wealth Partners LLC lifted its holdings in Altria Group by 79.0% during the fourth quarter. Elevation Wealth Partners LLC now owns 630 shares of the company’s stock valued at $36,000 after purchasing an additional 278 shares in the last quarter. Gould Capital LLC purchased a new position in Altria Group during the third quarter valued at approximately $39,000. Finally, WFA of San Diego LLC bought a new position in shares of Altria Group in the second quarter worth approximately $39,000. 57.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of Altria Group from $67.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. Argus raised Altria Group to a “hold” rating in a report on Tuesday, January 13th. Barclays boosted their price objective on Altria Group from $57.00 to $63.00 and gave the company an “underweight” rating in a research report on Monday, February 23rd. Stifel Nicolaus dropped their price objective on Altria Group from $72.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Finally, Jefferies Financial Group lifted their target price on Altria Group from $47.00 to $50.00 and gave the company an “underperform” rating in a research note on Wednesday, March 4th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $65.75.

Altria Group Stock Down 0.0%

Altria Group stock opened at $65.73 on Friday. The firm has a market cap of $109.89 billion, a P/E ratio of 15.99, a P/E/G ratio of 2.81 and a beta of 0.41. Altria Group, Inc. has a twelve month low of $52.82 and a twelve month high of $70.51. The business has a fifty day moving average of $66.06 and a two-hundred day moving average of $62.52.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, January 29th. The company reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.02). Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.The business had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.02 billion. During the same period in the prior year, the business posted $1.30 EPS. Altria Group’s revenue was down .5% compared to the same quarter last year. Equities analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, March 25th will be paid a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date of this dividend is Wednesday, March 25th. Altria Group’s dividend payout ratio (DPR) is 103.16%.

Insider Buying and Selling

In other news, SVP Charles N. Whitaker sold 27,908 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $67.57, for a total value of $1,885,743.56. Following the completion of the sale, the senior vice president owned 180,869 shares of the company’s stock, valued at $12,221,318.33. This represents a 13.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.08% of the company’s stock.

Altria Group Company Profile

Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.