Altria Group, Inc. (NYSE:MO) Shares Sold by Bernardo Wealth Planning LLC

Bernardo Wealth Planning LLC trimmed its position in shares of Altria Group, Inc. (NYSE:MO) by 3.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,937 shares of the company’s stock after selling 289 shares during the period. Bernardo Wealth Planning LLC’s holdings in Altria Group were worth $345,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Acorn Wealth Advisors LLC boosted its stake in Altria Group by 3.5% during the 2nd quarter. Acorn Wealth Advisors LLC now owns 6,914 shares of the company’s stock valued at $271,000 after acquiring an additional 236 shares during the last quarter. Empirical Finance LLC lifted its position in shares of Altria Group by 3.7% in the 2nd quarter. Empirical Finance LLC now owns 6,985 shares of the company’s stock worth $274,000 after buying an additional 249 shares during the last quarter. AlphaMark Advisors LLC lifted its position in shares of Altria Group by 12.6% in the 2nd quarter. AlphaMark Advisors LLC now owns 2,415 shares of the company’s stock worth $95,000 after buying an additional 270 shares during the last quarter. Walled Lake Planning & Wealth Management LLC lifted its position in shares of Altria Group by 0.3% in the 2nd quarter. Walled Lake Planning & Wealth Management LLC now owns 81,145 shares of the company’s stock worth $3,185,000 after buying an additional 278 shares during the last quarter. Finally, Cadence Bank NA lifted its position in shares of Altria Group by 1.9% in the 3rd quarter. Cadence Bank NA now owns 15,996 shares of the company’s stock worth $618,000 after buying an additional 293 shares during the last quarter. 62.61% of the stock is owned by institutional investors and hedge funds.

MO has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Altria Group from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Barclays downgraded shares of Altria Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $50.00 to $43.00 in a research report on Wednesday, July 8th. Piper Sandler restated a “buy” rating and issued a $57.00 price target on shares of Altria Group in a research report on Tuesday, July 7th. ValuEngine downgraded shares of Altria Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 6th. Finally, Citigroup lifted their price objective on shares of Altria Group from $45.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $49.67.

Altria Group stock opened at $38.66 on Monday. The stock has a market cap of $72.63 billion, a price-to-earnings ratio of -75.15, a PEG ratio of 2.27 and a beta of 0.51. The company has a current ratio of 0.75, a quick ratio of 0.54 and a debt-to-equity ratio of 4.76. The company’s 50-day moving average price is $40.43 and its two-hundred day moving average price is $40.33. Altria Group, Inc. has a 52 week low of $30.95 and a 52 week high of $51.78.

Altria Group (NYSE:MO) last released its earnings results on Tuesday, July 28th. The company reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.03. The firm had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $5.08 billion. Altria Group had a negative net margin of 3.57% and a positive return on equity of 109.11%. Altria Group’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the company earned $1.10 EPS. Research analysts expect that Altria Group, Inc. will post 4.32 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Tuesday, September 15th were paid a dividend of $0.86 per share. This is a boost from Altria Group’s previous quarterly dividend of $0.84. The ex-dividend date was Monday, September 14th. This represents a $3.44 annualized dividend and a yield of 8.90%. Altria Group’s dividend payout ratio (DPR) is presently 81.52%.

About Altria Group

Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands, as well as provides on! oral nicotine pouches.

Further Reading: Cash Flow Analysis in Stock Selection

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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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