Verity & Verity LLC increased its stake in Altria Group Inc (NYSE:MO) by 42.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 94,354 shares of the company’s stock after acquiring an additional 28,173 shares during the period. Verity & Verity LLC’s holdings in Altria Group were worth $4,468,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fishman Jay A Ltd. MI grew its stake in shares of Altria Group by 2.1% in the 4th quarter. Fishman Jay A Ltd. MI now owns 38,300 shares of the company’s stock worth $1,892,000 after buying an additional 770 shares during the last quarter. Convergence Investment Partners LLC lifted its holdings in shares of Altria Group by 9.9% in the 4th quarter. Convergence Investment Partners LLC now owns 90,703 shares of the company’s stock worth $4,480,000 after acquiring an additional 8,168 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Altria Group by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,006,715 shares of the company’s stock worth $296,655,000 after acquiring an additional 93,073 shares during the last quarter. SlateStone Wealth LLC acquired a new position in shares of Altria Group in the 4th quarter worth approximately $878,000. Finally, Berman Capital Advisors LLC acquired a new position in shares of Altria Group in the 4th quarter worth approximately $155,000. 64.39% of the stock is owned by institutional investors.
Altria Group stock traded up $0.28 during midday trading on Friday, hitting $49.87. 164,554 shares of the company’s stock were exchanged, compared to its average volume of 6,310,548. Altria Group Inc has a 12-month low of $42.40 and a 12-month high of $66.04. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.39 and a current ratio of 0.62. The stock has a market cap of $93.42 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 1.56 and a beta of 0.39. The business has a 50 day moving average price of $49.59.
Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.02). Altria Group had a return on equity of 49.42% and a net margin of 24.87%. The business had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.60 billion. During the same period in the previous year, the business posted $0.95 earnings per share. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. Research analysts anticipate that Altria Group Inc will post 4.18 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Friday, June 14th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 6.42%. The ex-dividend date was Thursday, June 13th. Altria Group’s payout ratio is currently 80.20%.
In other news, SVP Jody L. Begley sold 3,250 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $53.38, for a total value of $173,485.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP W Hildebrandt Surgner, Jr. sold 2,000 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $52.48, for a total transaction of $104,960.00. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.
A number of equities research analysts have issued reports on the stock. TheStreet lowered shares of 22nd Century Group from a “c-” rating to a “d+” rating in a report on Friday, March 29th. Citigroup set a $221.00 price objective on shares of 3M and gave the company a “buy” rating in a research report on Friday, April 26th. Zacks Investment Research downgraded shares of Wix.Com from a “hold” rating to a “sell” rating in a research report on Monday, April 8th. Morgan Stanley dropped their price objective on shares of Wells Fargo & Co from $55.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Monday, April 15th. Finally, ValuEngine raised shares of USINAS SIDERURG/S from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $60.91.
About Altria Group
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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