Forsta AP Fonden decreased its holdings in shares of Altria Group Inc (NYSE:MO) by 22.8% in the 4th quarter, Holdings Channel reports. The firm owned 73,133 shares of the company’s stock after selling 21,600 shares during the period. Forsta AP Fonden’s holdings in Altria Group were worth $5,222,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in MO. NewSquare Capital LLC boosted its holdings in Altria Group by 4,734.7% during the third quarter. NewSquare Capital LLC now owns 108,780 shares of the company’s stock worth $109,000 after purchasing an additional 106,530 shares during the last quarter. Balentine LLC boosted its holdings in Altria Group by 32.4% during the second quarter. Balentine LLC now owns 1,460 shares of the company’s stock worth $109,000 after purchasing an additional 357 shares during the last quarter. Quantum Capital Management LLC NJ acquired a new position in Altria Group during the third quarter worth $114,000. Northwest Investment Counselors LLC boosted its holdings in Altria Group by 557.0% during the third 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 last quarter. Finally, Oak Point Wealth Management acquired a new position in Altria Group during the fourth quarter worth $120,000. Institutional investors and hedge funds own 62.54% of the company’s stock.
Shares of Altria Group stock opened at $63.19 on Monday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.31 and a current ratio of 0.64. The stock has a market cap of $120,089.37, a PE ratio of 18.64, a PEG ratio of 1.83 and a beta of 0.63. Altria Group Inc has a 12 month low of $60.01 and a 12 month high of $77.79.
Altria Group (NYSE:MO) last posted its earnings results on Thursday, February 1st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. The company had revenue of $4.71 billion during the quarter, compared to analysts’ expectations of $4.80 billion. Altria Group had a net margin of 39.97% and a return on equity of 50.01%. Altria Group’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the company posted $0.68 EPS. research analysts forecast that Altria Group Inc will post 4.01 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 10th. Stockholders of record on Thursday, March 15th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date is Wednesday, March 14th. This is a boost from Altria Group’s previous quarterly dividend of $0.66. Altria Group’s dividend payout ratio (DPR) is currently 52.63%.
Altria Group announced that its board has initiated a share repurchase program on Thursday, February 1st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
A number of brokerages have commented on MO. Royal Bank of Canada reiterated a “sector perform” rating and issued a $62.00 price target (down previously from $65.00) on shares of Altria Group in a research note on Monday, February 5th. Vetr upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $71.45 price target for the company in a research note on Monday, February 5th. Zacks Investment Research upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research note on Tuesday, February 6th. Argus reiterated a “buy” rating and issued a $79.00 price target (up previously from $66.13) on shares of Altria Group in a research note on Wednesday, March 14th. Finally, Jefferies Group reiterated a “buy” rating and issued a $84.00 price target on shares of Altria Group in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $75.14.
In other news, VP W Hildebrandt Surgner, Jr. sold 3,200 shares of the firm’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $62.34, for a total transaction of $199,488.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James E. Dillard III sold 6,500 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $63.13, for a total transaction of $410,345.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,117 shares of company stock valued at $1,821,707. 0.11% of the stock is currently owned by corporate insiders.
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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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