Advisors Asset Management Inc. trimmed its position in shares of Altria Group Inc (NYSE:MO) by 9.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 453,177 shares of the company’s stock after selling 48,822 shares during the period. Altria Group comprises 0.5% of Advisors Asset Management Inc.’s holdings, making the stock its 26th biggest holding. Advisors Asset Management Inc.’s holdings in Altria Group were worth $28,740,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Solaris Asset Management LLC boosted its position in Altria Group by 65.7% in the 2nd quarter. Solaris Asset Management LLC now owns 1,405 shares of the company’s stock valued at $105,000 after buying an additional 557 shares during the period. CKW Financial Group purchased a new stake in shares of Altria Group in the 2nd quarter worth approximately $109,000. Balentine LLC lifted its position in shares of Altria Group by 32.4% in the 2nd quarter. Balentine LLC now owns 1,460 shares of the company’s stock worth $109,000 after purchasing an additional 357 shares during the period. INR Advisory Services LLC purchased a new stake in shares of Altria Group in the 2nd quarter worth approximately $134,000. Finally, Northwest Investment Counselors LLC lifted its position 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 worth $115,000 after purchasing an additional 1,543 shares during the period. Institutional investors own 62.75% of the company’s stock.
Several brokerages have recently weighed in on MO. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $62.00 price target (down previously from $65.00) on shares of Altria Group in a research report on Monday. Vetr raised shares of Altria Group from a “sell” rating to a “hold” rating and set a $71.45 price target for the company in a research report on Friday, January 26th. Piper Jaffray Companies upped their price target on shares of Altria Group from $76.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday. Zacks Investment Research raised shares of Altria Group from a “sell” rating to a “hold” rating in a research report on Monday, January 8th. Finally, Jefferies Group raised shares of Altria Group from a “hold” rating to a “buy” rating and decreased their target price for the company from $70.04 to $70.00 in a research report on Friday, January 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $72.79.
Shares of Altria Group Inc (NYSE MO) traded down $3.36 during trading on Monday, reaching $66.04. 12,595,878 shares of the company’s stock were exchanged, compared to its average volume of 7,250,000. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.64 and a quick ratio of 0.31. Altria Group Inc has a twelve month low of $60.01 and a twelve month high of $77.79. The firm has a market cap of $126,020.00, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 2.15 and a beta of 0.53.
Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, February 1st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.11. Altria Group had a net margin of 39.97% and a return on equity of 50.01%. The business had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same quarter in the prior year, the business posted $0.68 EPS. Altria Group’s revenue for the quarter was down .4% compared to the same quarter last year. equities research analysts anticipate that Altria Group Inc will post 4 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Thursday, December 21st were paid a dividend of $0.66 per share. The ex-dividend date of this dividend was Wednesday, December 20th. This represents a $2.64 dividend on an annualized basis and a yield of 4.00%. Altria Group’s payout ratio is 49.72%.
Altria Group announced that its board has authorized a share buyback program on Thursday, February 1st that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
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Altria Group Company Profile
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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