Altria Group, Inc. (NYSE:MO) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems cut its stake in shares of Altria Group, Inc. (NYSE:MO) by 8.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 118,865 shares of the company’s stock after selling 10,569 shares during the quarter. Kentucky Retirement Systems’ holdings in Altria Group were worth $6,067,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. MFA Wealth Advisors LLC purchased a new stake in Altria Group during the second quarter valued at about $27,000. Hobbs Group Advisors LLC purchased a new stake in shares of Altria Group during the 2nd quarter worth about $30,000. Valley Wealth Managers Inc. increased its position in Altria Group by 63.9% during the 2nd quarter. Valley Wealth Managers Inc. now owns 667 shares of the company’s stock worth $30,000 after purchasing an additional 260 shares in the last quarter. Fairman Group LLC raised its holdings in Altria Group by 85.1% in the third quarter. Fairman Group LLC now owns 892 shares of the company’s stock valued at $46,000 after buying an additional 410 shares during the period. Finally, Lynx Investment Advisory acquired a new position in Altria Group during the second quarter valued at approximately $44,000. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Stock Up 1.0 %

MO stock opened at $55.93 on Friday. The stock’s 50 day moving average is $51.59 and its two-hundred day moving average is $49.26. Altria Group, Inc. has a 52-week low of $39.25 and a 52-week high of $56.32. The company has a market capitalization of $94.79 billion, a PE ratio of 9.45, a P/E/G ratio of 3.18 and a beta of 0.64.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.03. The firm had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $5.33 billion. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. The firm’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.28 earnings per share. As a group, sell-side analysts anticipate that Altria Group, Inc. will post 5.11 EPS for the current year.

Altria Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 16th were issued a $1.02 dividend. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a yield of 7.29%. The ex-dividend date was Monday, September 16th. Altria Group’s payout ratio is currently 68.92%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a research report on Monday, September 9th. Citigroup increased their price target on Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft boosted their price objective on Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Finally, Bank of America reduced their price target on Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $51.33.

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.