Meag Munich Ergo Kapitalanlagegesellschaft MBH decreased its position in Altria Group Inc (NYSE:MO) by 79.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,486 shares of the company’s stock after selling 193,912 shares during the quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Altria Group were worth $3,251,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Solaris Asset Management LLC grew its holdings in Altria Group by 65.7% during the 2nd quarter. Solaris Asset Management LLC now owns 1,405 shares of the company’s stock worth $105,000 after acquiring an additional 557 shares during the period. CKW Financial Group acquired a new stake in shares of Altria Group in the 2nd quarter valued at about $109,000. Balentine LLC grew its stake in shares of Altria Group by 32.4% in the 2nd quarter. Balentine LLC now owns 1,460 shares of the company’s stock valued at $109,000 after buying an additional 357 shares during the period. INR Advisory Services LLC acquired a new stake in shares of Altria Group in the 2nd quarter valued at about $134,000. Finally, Northwest Investment Counselors LLC grew its stake in shares of Altria Group by 557.0% in the 3rd quarter. Northwest Investment Counselors LLC now owns 1,820 shares of the company’s stock valued at $115,000 after buying an additional 1,543 shares during the period. 62.95% of the stock is currently owned by institutional investors.
MO has been the subject of several research reports. Zacks Investment Research upgraded Altria Group from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research note on Wednesday, October 11th. Piper Jaffray Companies reiterated a “buy” rating and set a $76.00 price target on shares of Altria Group in a research note on Friday, October 27th. Vetr raised shares of Altria Group from a “buy” rating to a “strong-buy” rating and set a $71.89 target price on the stock in a research report on Tuesday, October 24th. Berenberg Bank raised shares of Altria Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $60.01 to $71.00 in a research report on Tuesday, December 19th. Finally, UBS Group lowered their price target on shares of Altria Group from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $72.88.
Shares of Altria Group Inc (MO) traded down $0.44 during trading hours on Thursday, reaching $69.93. 14,240,000 shares of the company traded hands, compared to its average volume of 7,010,000. 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 stock has a market capitalization of $133,440.00, a price-to-earnings ratio of 8.74, a PEG ratio of 2.25 and a beta of 0.62. Altria Group Inc has a one year low of $60.01 and a one year high of $77.79.
Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, February 1st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.11. The business had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.80 billion. Altria Group had a net margin of 60.37% and a return on equity of 49.43%. The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 earnings per share. equities analysts predict that Altria Group Inc will post 3.28 earnings per share for the current fiscal year.
Altria Group declared that its board has initiated a share buyback program on Thursday, February 1st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Thursday, December 21st were paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 3.78%. The ex-dividend date was Wednesday, December 20th. Altria Group’s dividend payout ratio (DPR) is 33.00%.
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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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