Advisors Capital Management LLC trimmed its stake in Altria Group Inc (NYSE:MO) by 2.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 193,840 shares of the company’s stock after selling 4,975 shares during the quarter. Advisors Capital Management LLC’s holdings in Altria Group were worth $12,293,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the business. Sterling Investment Advisors Ltd. lifted its holdings in Altria Group by 133.3% in the first quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock valued at $100,000 after acquiring an additional 800 shares during the period. Solaris Asset Management LLC lifted its holdings in Altria Group by 65.7% in the second quarter. Solaris Asset Management LLC now owns 1,405 shares of the company’s stock valued at $105,000 after acquiring an additional 557 shares during the period. CKW Financial Group bought a new position in Altria Group in the second quarter valued at about $109,000. Balentine LLC lifted its holdings in Altria Group by 32.4% in the second quarter. Balentine LLC now owns 1,460 shares of the company’s stock valued at $109,000 after acquiring an additional 357 shares during the period. Finally, INR Advisory Services LLC purchased a new stake in Altria Group in the second quarter worth about $134,000. 62.64% of the stock is currently owned by institutional investors and hedge funds.
Altria Group Inc (MO) traded down $0.68 during trading hours on Friday, hitting $69.61. The stock had a trading volume of 7,368,700 shares, compared to its average volume of 7,310,000. The company has a market cap of $132,830.00, a price-to-earnings ratio of 8.70, a price-to-earnings-growth ratio of 2.57 and a beta of 0.62. Altria Group Inc has a 1-year low of $60.01 and a 1-year high of $77.79. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.77 and a quick ratio of 0.48.
Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, October 26th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. Altria Group had a return on equity of 49.43% and a net margin of 60.37%. The business had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same period last year, the company earned $0.82 EPS. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. analysts expect that Altria Group Inc will post 3.28 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Thursday, December 21st were paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date was Wednesday, December 20th. Altria Group’s dividend payout ratio is currently 33.00%.
A number of analysts have commented on the company. Zacks Investment Research upgraded Altria Group from a “sell” rating to a “hold” rating in a research report on Monday, January 8th. Wells Fargo & Co upped their price target on Altria Group from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, January 4th. Vetr upgraded Altria Group from a “sell” rating to a “hold” rating and set a $69.29 price target for the company in a research report on Thursday, December 28th. Berenberg Bank upgraded Altria Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $60.01 to $71.00 in a research report on Tuesday, December 19th. Finally, Jefferies Group set a $72.00 target price on Altria Group and gave the stock a “hold” rating in a research report on Friday, November 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $72.87.
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About Altria Group
Altria Group, Inc is a holding company. The Company’s segments include smokeable products, smokeless products and wine. The Company’s subsidiaries include Philip Morris USA Inc (PM USA), which is engaged in the manufacture and sale of cigarettes in the United States; John Middleton Co (Middleton), which is engaged in the manufacture and sale of machine-made cigars and pipe tobacco, and UST LLC (UST), which, through its subsidiaries, including U.S.
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