Patton Fund Management Sells 92% of Altria Stake Amid Dividend Sustainability Concerns

Patton Fund Management Inc. has significantly liquidated its position in Altria Group (MO), reducing its holdings by 92.3% during the fourth quarter amid concerns over a dividend payout ratio exceeding 100%. In contrast, institutional interest remains strong for its peer, Philip Morris International (PM), as Thomasville National Bank increased its stake by 40.1% during the same period. The bank now holds 142,532 shares of Philip Morris valued at approximately $22.86 million, marking it as the 25th largest holding in its portfolio. While Altria faces scrutiny over its 6.5% yield sustainability, Philip Morris maintains a 'Moderate Buy' consensus rating and a 3.8% dividend yield. This divergence highlights a shift in institutional preference toward tobacco giants with more sustainable financial metrics. Investors are closely monitoring these portfolio adjustments as a signal for long-term sector stability.