Altria Group, Inc. (NYSE:MO) Shares Sold by SVB Wealth LLC

SVB Wealth LLC cut its holdings in shares of Altria Group, Inc. (NYSE:MO) by 12.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,808 shares of the company’s stock after selling 4,169 shares during the quarter. SVB Wealth LLC’s holdings in Altria Group were worth $1,300,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MO. Maryland Capital Advisors Inc. grew its stake in shares of Altria Group by 154.4% in the first quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock valued at $25,000 after buying an additional 349 shares in the last quarter. Accordant Advisory Group Inc acquired a new position in Altria Group during the 1st quarter worth approximately $26,000. Criterion Capital Advisors LLC acquired a new stake in shares of Altria Group in the 4th quarter valued at $27,000. BNP Paribas purchased a new stake in shares of Altria Group during the 1st quarter worth $27,000. Finally, Pineridge Advisors LLC acquired a new position in shares of Altria Group during the 4th quarter worth about $28,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Stock Performance

MO traded down $0.12 during trading on Tuesday, reaching $50.41. The company’s stock had a trading volume of 1,332,982 shares, compared to its average volume of 10,629,070. Altria Group, Inc. has a 52-week low of $39.06 and a 52-week high of $50.72. The company has a market capitalization of $86.59 billion, a price-to-earnings ratio of 10.57, a price-to-earnings-growth ratio of 3.09 and a beta of 0.66. The company’s fifty day moving average price is $46.74 and its 200-day moving average price is $43.76.

Altria Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Friday, June 14th were paid a dividend of $0.98 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 7.78%. Altria Group’s dividend payout ratio (DPR) is presently 82.01%.

Analyst Upgrades and Downgrades

MO has been the subject of several research analyst reports. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a research note on Friday, June 28th. Argus raised Altria Group to a “hold” rating in a research report on Friday, May 31st. Bank of America lifted their price target on Altria Group from $47.00 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Finally, UBS Group raised their target price on shares of Altria Group from $36.10 to $36.50 and gave the stock a “sell” rating in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $47.10.

Insider Buying and Selling at Altria Group

In other news, VP Charles N. Whitaker sold 22,487 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $43.95, for a total transaction of $988,303.65. Following the sale, the vice president now owns 173,485 shares of the company’s stock, valued at approximately $7,624,665.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

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.