Pinnacle Financial Partners Inc. raised its holdings in shares of Altria Group Inc (NYSE:MO) by 14.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,584 shares of the company’s stock after purchasing an additional 10,332 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in Altria Group were worth $5,237,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Solaris Asset Management LLC lifted its holdings in Altria Group by 65.7% during the second quarter. Solaris Asset Management LLC now owns 1,405 shares of the company’s stock valued at $105,000 after purchasing an additional 557 shares during the last quarter. CKW Financial Group purchased a new stake in shares of Altria Group in the second quarter worth about $109,000. NewSquare Capital LLC lifted its holdings in shares of Altria Group by 4,734.7% in the third quarter. NewSquare Capital LLC now owns 108,780 shares of the company’s stock worth $109,000 after buying an additional 106,530 shares in the last quarter. Balentine LLC lifted its holdings in shares of Altria Group by 32.4% in the second quarter. Balentine LLC now owns 1,460 shares of the company’s stock worth $109,000 after buying an additional 357 shares in the last quarter. Finally, Northwest Investment Counselors LLC lifted its holdings in shares of Altria Group by 557.0% in the third quarter. Northwest Investment Counselors LLC now owns 1,820 shares of the company’s stock worth $115,000 after buying an additional 1,543 shares in the last quarter. 62.64% of the stock is currently owned by institutional investors and hedge funds.
Altria Group Inc (NYSE:MO) opened at $70.03 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.77 and a quick ratio of 0.48. The firm has a market cap of $133,630.00, a P/E ratio of 8.75, a P/E/G ratio of 2.57 and a beta of 0.62. Altria Group Inc has a 52-week low of $60.01 and a 52-week high of $77.79.
Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, October 26th. The company reported $0.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.03. The company had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Altria Group had a net margin of 60.37% and a return on equity of 49.43%. Altria Group’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.82 earnings per share. analysts anticipate that Altria Group Inc will post 3.28 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Thursday, December 21st were given a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend was Wednesday, December 20th. Altria Group’s dividend payout ratio (DPR) is 33.00%.
A number of equities research analysts have recently issued reports on the stock. Berenberg Bank raised shares of Altria Group from a “hold” rating to a “buy” rating and increased their price target for the stock from $60.01 to $71.00 in a report on Tuesday, December 19th. Vetr downgraded shares of Altria Group from a “hold” rating to a “sell” rating and set a $67.97 price target on the stock. in a report on Monday, December 11th. Zacks Investment Research downgraded shares of Altria Group from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Wells Fargo & Co increased their price target on shares of Altria Group from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, January 4th. Finally, Jefferies Group raised shares of Altria Group from a “hold” rating to a “buy” rating in a report on Friday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price 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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