Bard Financial Services Inc. Trims Stock Holdings in Altria Group, Inc. (NYSE:MO)

Bard Financial Services Inc. reduced its position in shares of Altria Group, Inc. (NYSE:MO) by 4.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,552 shares of the company’s stock after selling 5,670 shares during the period. Bard Financial Services Inc.’s holdings in Altria Group were worth $8,076,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Redwood Park Advisors LLC bought a new stake in shares of Altria Group during the 4th quarter worth $26,000. VSM Wealth Advisory LLC bought a new stake in shares of Altria Group during the 4th quarter worth $29,000. Marshall Investment Management LLC bought a new stake in shares of Altria Group during the 4th quarter worth $32,000. Promus Capital LLC bought a new stake in shares of Altria Group during the 4th quarter worth $33,000. Finally, Pinney & Scofield Inc. bought a new stake in shares of Altria Group during the 4th quarter worth $33,000. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Altria Group Trading Down 0.8%

MO stock opened at $58.58 on Wednesday. The firm’s 50-day moving average price is $58.50 and its two-hundred day moving average price is $56.05. Altria Group, Inc. has a 12-month low of $43.83 and a 12-month high of $61.26. The stock has a market capitalization of $98.68 billion, a price-to-earnings ratio of 8.94, a PEG ratio of 2.89 and a beta of 0.60.

Altria Group (NYSE:MO) last released its quarterly earnings data on Tuesday, April 29th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.04. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. The firm had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the previous year, the company earned $1.15 earnings per share. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. Equities analysts predict that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Monday, June 16th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend 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%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of Altria Group from $52.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday, April 25th. Needham & Company LLC raised shares of Altria Group to a “hold” rating in a report on Thursday, May 22nd. UBS Group lifted their price objective on shares of Altria Group from $46.00 to $47.00 and gave the stock a “sell” rating in a report on Wednesday, April 30th. Stifel Nicolaus lifted their price objective on shares of Altria Group from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft set a $60.00 price target on shares of Altria Group in a research note on Tuesday, April 1st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $56.00.

Altria Group Profile

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.