Altria Group, Inc. (NYSE:MO) Shares Sold by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC lowered its position in Altria Group, Inc. (NYSE:MO) by 3.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 48,764 shares of the company’s stock after selling 1,862 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Altria Group were worth $2,127,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MO. Mount Yale Investment Advisors LLC boosted its holdings in shares of Altria Group by 132.5% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 33,619 shares of the company’s stock worth $1,466,000 after purchasing an additional 19,158 shares during the last quarter. Perritt Capital Management Inc. lifted its position in Altria Group by 3.4% during the first quarter. Perritt Capital Management Inc. now owns 8,675 shares of the company’s stock worth $378,000 after buying an additional 288 shares in the last quarter. Kestra Advisory Services LLC boosted its stake in Altria Group by 1.1% during the first quarter. Kestra Advisory Services LLC now owns 363,054 shares of the company’s stock worth $15,836,000 after buying an additional 4,038 shares during the last quarter. Steel Grove Capital Advisors LLC grew its holdings in Altria Group by 10.5% in the 1st quarter. Steel Grove Capital Advisors LLC now owns 41,414 shares of the company’s stock valued at $1,806,000 after buying an additional 3,930 shares in the last quarter. Finally, Lazard Asset Management LLC increased its stake in shares of Altria Group by 3.3% in the 1st quarter. Lazard Asset Management LLC now owns 566,676 shares of the company’s stock worth $24,718,000 after acquiring an additional 18,194 shares during the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Insiders Place Their Bets

In related news, VP Charles N. Whitaker sold 22,487 shares of Altria Group stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $43.95, for a total value of $988,303.65. Following the completion of the transaction, the vice president now owns 173,485 shares in the company, valued at $7,624,665.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.09% of the company’s stock.

Altria Group Stock Performance

Shares of MO stock opened at $50.55 on Wednesday. The firm has a market cap of $86.83 billion, a P/E ratio of 10.58, a P/E/G ratio of 3.10 and a beta of 0.66. The firm’s 50 day moving average price is $46.82 and its 200-day moving average price is $43.83. Altria Group, Inc. has a one year low of $39.06 and a one year high of $50.85.

Altria Group (NYSE:MO) last released its quarterly earnings results on Wednesday, July 31st. The company reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). Altria Group had a negative return on equity of 222.80% and a net margin of 34.81%. The firm had revenue of $6.21 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same quarter last year, the company earned $1.31 earnings per share. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. As a group, research analysts predict that Altria Group, Inc. will post 5.11 EPS for the current fiscal year.

Altria Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Friday, June 14th were given a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 7.75%. The ex-dividend date was Friday, June 14th. Altria Group’s dividend payout ratio is currently 82.01%.

Analyst Ratings Changes

MO has been the topic of several recent research reports. Bank of America boosted their price target on shares of Altria Group from $47.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a research note on Friday, June 28th. Argus raised shares of Altria Group to a “hold” rating in a research report on Friday, May 31st. Finally, UBS Group increased their price objective on 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 given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $47.10.

Altria Group Company Profile

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.