Advisory Services Network LLC increased its position in shares of Altria Group Inc (NYSE:MO) by 5.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 83,793 shares of the company’s stock after acquiring an additional 4,572 shares during the period. Advisory Services Network LLC’s holdings in Altria Group were worth $5,054,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Pekin Singer Strauss Asset Management IL lifted its stake in Altria Group by 9.9% in the 2nd quarter. Pekin Singer Strauss Asset Management IL now owns 9,510 shares of the company’s stock valued at $540,000 after purchasing an additional 859 shares during the last quarter. Burney Co. lifted its stake in Altria Group by 4.0% in the 2nd quarter. Burney Co. now owns 22,348 shares of the company’s stock valued at $1,269,000 after purchasing an additional 859 shares during the last quarter. Reliance Trust Co. of Delaware lifted its stake in Altria Group by 1.3% in the 3rd quarter. Reliance Trust Co. of Delaware now owns 65,627 shares of the company’s stock valued at $3,958,000 after purchasing an additional 871 shares during the last quarter. Cpwm LLC raised its stake in shares of Altria Group by 23.9% during the second quarter. Cpwm LLC now owns 4,527 shares of the company’s stock valued at $257,000 after acquiring an additional 874 shares during the last quarter. Finally, 180 Wealth Advisors LLC raised its stake in shares of Altria Group by 3.9% during the second quarter. 180 Wealth Advisors LLC now owns 23,305 shares of the company’s stock valued at $1,323,000 after acquiring an additional 878 shares during the last quarter. Institutional investors and hedge funds own 63.33% of the company’s stock.
In other news, Director Dinyar S. Devitre sold 3,165 shares of the stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $58.44, for a total transaction of $184,962.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.11% of the company’s stock.
MO stock opened at $64.87 on Wednesday. The firm has a market cap of $119.64 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 1.81 and a beta of 0.40. Altria Group Inc has a 52-week low of $53.91 and a 52-week high of $74.38. The company has a quick ratio of 0.36, a current ratio of 0.60 and a debt-to-equity ratio of 0.77.
Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, October 25th. The company reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.01. Altria Group had a net margin of 42.13% and a return on equity of 48.31%. The company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.22 billion. On average, research analysts predict that Altria Group Inc will post 3.99 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 10th. Stockholders of record on Friday, September 14th were given a dividend of $0.80 per share. The ex-dividend date was Thursday, September 13th. This is a boost from Altria Group’s previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a dividend yield of 4.93%. Altria Group’s dividend payout ratio is 94.67%.
Several equities analysts have recently issued reports on MO shares. Zacks Investment Research raised shares of Altria Group from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research note on Tuesday, September 25th. Jefferies Financial Group downgraded shares of Altria Group from a “buy” rating to a “hold” rating and set a $61.00 price target for the company. in a research note on Friday, August 24th. Sanford C. Bernstein started coverage on shares of Altria Group in a research note on Tuesday, October 16th. They set a “market perform” rating for the company. Bank of America set a $70.00 price target on shares of Altria Group and gave the company a “buy” rating in a research note on Thursday, September 13th. Finally, Stifel Nicolaus dropped their price target on shares of Altria Group from $78.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, July 27th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $69.87.
Altria Group Company Profile
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.
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