Highland Capital Management LLC Sells 1,517 Shares of Altria Group, Inc. (NYSE:MO)

Highland Capital Management LLC lowered its holdings in shares of Altria Group, Inc. (NYSE:MO) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,496 shares of the company’s stock after selling 1,517 shares during the period. Highland Capital Management LLC’s holdings in Altria Group were worth $4,000,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. True Wealth Design LLC increased its position in Altria Group by 420.0% during the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock valued at $29,000 after buying an additional 462 shares in the last quarter. Legacy Investment Solutions LLC purchased a new stake in shares of Altria Group in the third quarter worth $34,000. Peterson Financial Group Inc. bought a new position in shares of Altria Group during the third quarter valued at $41,000. Fairman Group LLC raised its position in shares of Altria Group by 85.1% in the 3rd quarter. Fairman Group LLC now owns 892 shares of the company’s stock worth $46,000 after purchasing an additional 410 shares during the last quarter. Finally, Asset Dedication LLC raised its position in shares of Altria Group by 27.7% in the 4th quarter. Asset Dedication LLC now owns 921 shares of the company’s stock worth $48,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 57.41% of the company’s stock.

Altria Group Price Performance

MO stock opened at $52.81 on Thursday. The company has a market cap of $89.50 billion, a P/E ratio of 8.92, a price-to-earnings-growth ratio of 2.67 and a beta of 0.64. Altria Group, Inc. has a 1 year low of $39.25 and a 1 year high of $58.03. The stock’s fifty day moving average price is $53.81 and its 200-day moving average price is $52.29.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.03. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. The business had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $5.33 billion. During the same period in the previous year, the company posted $1.28 EPS. The business’s quarterly revenue was up 18.6% compared to the same quarter last year. As a group, analysts expect that Altria Group, Inc. will post 5.13 earnings per share for the current year.

Altria Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 26th were issued a dividend of $1.02 per share. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $4.08 dividend on an annualized basis and a yield of 7.73%. Altria Group’s dividend payout ratio is currently 68.92%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MO. Barclays increased their price objective on shares of Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. Citigroup boosted their price objective on shares of Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft increased their target price on Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Stifel Nicolaus boosted their price target on Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Morgan Stanley started coverage on Altria Group in a research report on Thursday, January 16th. They set an “equal weight” rating and a $54.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $53.43.

Altria Group 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.