Sage Mountain Advisors LLC Decreases Holdings in Altria Group, Inc. (NYSE:MO)

by · The Cerbat Gem

Sage Mountain Advisors LLC cut its holdings in shares of Altria Group, Inc. (NYSE:MO – Free Report) by 13.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,047 shares of the company’s stock after selling 1,233 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Altria Group were worth $483,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in MO. GAMMA Investing LLC increased its position in shares of Altria Group by 6,969.4% during the 1st quarter. GAMMA Investing LLC now owns 2,162,401 shares of the company’s stock valued at $129,787,000 after purchasing an additional 2,131,813 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in shares of Altria Group during the 4th quarter valued at $91,000. Northern Trust Corp increased its position in shares of Altria Group by 9.6% during the 4th quarter. Northern Trust Corp now owns 16,432,535 shares of the company’s stock valued at $859,257,000 after purchasing an additional 1,444,021 shares during the last quarter. Royal Bank of Canada increased its position in shares of Altria Group by 17.4% during the 4th quarter. Royal Bank of Canada now owns 8,927,340 shares of the company’s stock valued at $466,811,000 after purchasing an additional 1,323,421 shares during the last quarter. Finally, Bridgewater Associates LP increased its position in shares of Altria Group by 86.0% during the 4th quarter. Bridgewater Associates LP now owns 2,675,347 shares of the company’s stock valued at $139,894,000 after purchasing an additional 1,236,782 shares during the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Stock Up 0.6%

Shares of NYSE MO opened at $58.50 on Wednesday. Altria Group, Inc. has a 52 week low of $47.57 and a 52 week high of $61.26. The business has a 50-day simple moving average of $59.18 and a two-hundred day simple moving average of $56.71. The company has a market cap of $98.55 billion, a P/E ratio of 9.80, a P/E/G ratio of 3.41 and a beta of 0.59.

Altria Group (NYSE:MO – Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.19 by $0.04. Altria Group had a negative return on equity of 295.44% and a net margin of 43.09%. The business had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter last year, the company earned $1.15 EPS. The firm’s revenue was down 4.2% compared to the same quarter last year. Equities research analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Monday, June 16th were paid a $1.02 dividend. The ex-dividend date was Monday, June 16th. This represents a $4.08 annualized dividend and a yield of 6.97%. Altria Group’s dividend payout ratio is currently 68.34%.

Analyst Ratings Changes

MO has been the subject of several research reports. Citigroup increased their price target on Altria Group from $52.00 to $55.00 and gave the stock a “neutral” rating in a research note on Friday, April 25th. Jefferies Financial Group initiated coverage on Altria Group in a research note on Wednesday, July 9th. They set an “underperform” rating and a $50.00 price target for the company. Needham & Company LLC upgraded Altria Group to a “hold” rating in a research note on Thursday, May 22nd. Stifel Nicolaus increased their price target on Altria Group from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Finally, Wall Street Zen downgraded Altria Group from a “buy” rating to a “hold” rating in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $56.75.

Get Our Latest Analysis on Altria Group

Altria Group Company Profile

(Free Report)

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.

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