Signet Financial Management LLC Sells 522 Shares of Altria Group, Inc. (NYSE:MO)

Signet Financial Management LLC trimmed its holdings in shares of Altria Group, Inc. (NYSE:MO) by 9.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,786 shares of the company’s stock after selling 522 shares during the quarter. Signet Financial Management LLC’s holdings in Altria Group were worth $287,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Redwood Park Advisors LLC acquired a new stake in Altria Group during the fourth quarter worth about $26,000. VSM Wealth Advisory LLC acquired a new stake in Altria Group during the fourth quarter worth about $29,000. Marshall Investment Management LLC acquired a new stake in Altria Group during the fourth quarter worth about $32,000. Promus Capital LLC acquired a new stake in Altria Group during the fourth quarter worth about $33,000. Finally, Pinney & Scofield Inc. acquired a new stake in shares of Altria Group in the 4th quarter valued at approximately $33,000. 57.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. UBS Group raised their price target on shares of Altria Group from $46.00 to $47.00 and gave the company a “sell” rating in a research note on Wednesday, April 30th. Wall Street Zen downgraded shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Thursday, May 1st. Needham & Company LLC upgraded shares of Altria Group to a “hold” rating in a research note on Thursday, May 22nd. Citigroup raised their price target on shares of Altria Group from $52.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, April 25th. Finally, Deutsche Bank Aktiengesellschaft set a $60.00 price target on shares of Altria Group in a research note on Tuesday, April 1st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $56.00.

Altria Group Trading Down 0.8%

Shares of NYSE:MO opened at $58.58 on Wednesday. The stock’s fifty day simple moving average is $58.50 and its two-hundred day simple moving average is $56.05. Altria Group, Inc. has a 1-year low of $43.83 and a 1-year high of $61.26. The stock has a market cap of $98.68 billion, a PE ratio of 8.94, a price-to-earnings-growth ratio of 2.89 and a beta of 0.60.

Altria Group (NYSE:MO) last released its earnings results on Tuesday, April 29th. The company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.04. The company had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.64 billion. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.15 EPS. On average, sell-side analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Monday, June 16th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 6.96%. The ex-dividend date of this dividend is Monday, June 16th. Altria Group’s dividend payout ratio is currently 68.34%.

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.