Hohimer Wealth Management LLC Reduces Stock Holdings in Altria Group, Inc. (NYSE:MO)

Hohimer Wealth Management LLC trimmed its holdings in shares of Altria Group, Inc. (NYSE:MO) by 37.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,647 shares of the company’s stock after selling 22,321 shares during the quarter. Hohimer Wealth Management LLC’s holdings in Altria Group were worth $1,478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Altshuler Shaham Ltd purchased a new stake in shares of Altria Group in the third quarter worth about $26,000. Nemes Rush Group LLC boosted its stake in shares of Altria Group by 103.2% in the third quarter. Nemes Rush Group LLC now owns 636 shares of the company’s stock worth $27,000 after buying an additional 323 shares during the last quarter. ZRC Wealth Management LLC boosted its stake in shares of Altria Group by 67.6% in the fourth quarter. ZRC Wealth Management LLC now owns 677 shares of the company’s stock worth $28,000 after buying an additional 273 shares during the last quarter. Criterion Capital Advisors LLC acquired a new position in Altria Group in the 4th quarter worth about $27,000. Finally, Financial Gravity Asset Management Inc. raised its holdings in Altria Group by 1,800.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 703 shares of the company’s stock worth $30,000 after purchasing an additional 666 shares during the period. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MO. UBS Group upped their price target on Altria Group from $36.10 to $36.50 and gave the stock a “sell” rating in a report on Monday, April 8th. StockNews.com cut Altria Group from a “buy” rating to a “hold” rating in a report on Sunday, April 14th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $50.00 price target on shares of Altria Group in a report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $46.90.

Insider Activity at Altria Group

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

Altria Group Stock Down 1.6 %

Shares of Altria Group stock traded down $0.74 during mid-day trading on Thursday, reaching $45.58. 6,479,866 shares of the stock traded hands, compared to its average volume of 11,562,528. The business has a 50-day moving average of $43.51 and a 200 day moving average of $41.86. Altria Group, Inc. has a fifty-two week low of $39.06 and a fifty-two week high of $46.60. The stock has a market capitalization of $78.29 billion, a PE ratio of 9.58, a PEG ratio of 2.86 and a beta of 0.66.

Altria Group (NYSE:MO) last announced its earnings results on Thursday, April 25th. The company reported $1.15 EPS for the quarter, meeting analysts’ consensus estimates of $1.15. Altria Group had a negative return on equity of 222.80% and a net margin of 34.81%. The business had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.71 billion. During the same quarter in the prior year, the firm earned $1.18 earnings per share. The business’s revenue was down 1.0% compared to the same quarter last year. On average, equities research analysts expect that Altria Group, Inc. will post 5.11 EPS for the current fiscal year.

Altria Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 14th will be issued a $0.98 dividend. The ex-dividend date is Friday, June 14th. This represents a $3.92 annualized dividend and a dividend yield of 8.60%. Altria Group’s dividend payout ratio is presently 82.01%.

Altria Group declared that its Board of Directors has authorized a stock repurchase program on Thursday, February 1st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

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.