Edmp Inc. Cuts Holdings in Altria Group, Inc. $MO

Edmp Inc. reduced its stake in shares of Altria Group, Inc. (NYSE:MO) by 14.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 78,586 shares of the company’s stock after selling 12,774 shares during the quarter. Altria Group comprises about 3.7% of Edmp Inc.’s investment portfolio, making the stock its 6th largest holding. Edmp Inc.’s holdings in Altria Group were worth $4,531,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of MO. Darwin Wealth Management LLC bought a new stake in shares of Altria Group during the second quarter valued at about $27,000. EMC Capital Management acquired a new position in Altria Group during the third quarter worth about $33,000. Elevation Wealth Partners LLC grew 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 worth $36,000 after acquiring an additional 278 shares during the period. Gould Capital LLC acquired a new position in Altria Group during the third quarter worth about $39,000. Finally, WFA of San Diego LLC acquired a new position in Altria Group during the second quarter worth about $39,000. 57.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, SVP Charles N. Whitaker sold 27,908 shares of Altria Group stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $67.57, for a total value of $1,885,743.56. Following the transaction, the senior vice president owned 180,869 shares of the company’s stock, valued at approximately $12,221,318.33. This trade represents a 13.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.08% of the company’s stock.

Altria Group Stock Up 1.1%

NYSE:MO opened at $66.51 on Tuesday. The business’s 50-day moving average price is $66.13 and its 200 day moving average price is $62.52. The firm has a market cap of $111.20 billion, a P/E ratio of 16.18, a PEG ratio of 2.81 and a beta of 0.41. Altria Group, Inc. has a 52-week low of $52.82 and a 52-week high of $70.51.

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 analysts’ consensus estimates of $1.32 by ($0.02). The company had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $5.02 billion. Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.30 EPS. Sell-side analysts expect that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, March 25th will be paid a $1.06 dividend. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $4.24 dividend on an annualized basis and a yield of 6.4%. Altria Group’s dividend payout ratio (DPR) is currently 103.16%.

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.