Symphony Financial Ltd. Co. Sells 78,986 Shares of Altria Group, Inc. (NYSE:MO)

Symphony Financial Ltd. Co. lessened its position in shares of Altria Group, Inc. (NYSE:MO) by 74.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,173 shares of the company’s stock after selling 78,986 shares during the period. Altria Group comprises 0.9% of Symphony Financial Ltd. Co.’s holdings, making the stock its 28th largest position. Symphony Financial Ltd. Co.’s holdings in Altria Group were worth $1,562,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Redwood Park Advisors LLC acquired a new position in shares of Altria Group during the 4th quarter worth about $26,000. VSM Wealth Advisory LLC acquired a new position in shares of Altria Group during the 4th quarter worth about $29,000. Inlight Wealth Management LLC acquired a new position in shares of Altria Group during the 1st quarter worth about $31,000. Promus Capital LLC acquired a new position in shares of Altria Group during the 4th quarter worth about $33,000. Finally, Pinney & Scofield Inc. acquired a new position in shares of Altria Group during the 4th quarter worth about $33,000. Institutional investors own 57.41% of the company’s stock.

Altria Group Stock Up 1.3%

Shares of MO stock opened at $60.52 on Tuesday. The firm has a 50 day moving average price of $59.11 and a two-hundred day moving average price of $56.19. The company has a market capitalization of $101.94 billion, a PE ratio of 10.14, a price-to-earnings-growth ratio of 3.49 and a beta of 0.61. Altria Group, Inc. has a 12-month low of $45.17 and a 12-month high of $61.26.

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

Altria Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Monday, June 16th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.08 annualized dividend and a yield of 6.74%. Altria Group’s dividend payout ratio (DPR) is presently 68.34%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MO. Barclays increased their price objective on shares of Altria Group from $46.00 to $49.00 and gave the stock an “underweight” rating in a research note on Friday, May 2nd. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on shares of Altria Group in a research note on Tuesday, April 1st. Stifel Nicolaus raised their target price on shares of Altria Group from $60.00 to $63.00 and gave the company a “buy” 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. Finally, Needham & Company LLC upgraded shares of Altria Group to a “hold” rating in a research note on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Altria Group currently has a consensus rating of “Hold” and a consensus target price of $56.00.

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.