HM Payson & Co. grew its stake in Altria Group Inc (NYSE:MO) by 2.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 79,361 shares of the company’s stock after buying an additional 1,797 shares during the quarter. HM Payson & Co.’s holdings in Altria Group were worth $5,667,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. First Manhattan Co. raised its position in shares of Altria Group by 22.8% during the 4th quarter. First Manhattan Co. now owns 1,125,517 shares of the company’s stock worth $80,373,000 after acquiring an additional 208,935 shares in the last quarter. Alley Co LLC increased its position in Altria Group by 0.9% during the fourth quarter. Alley Co LLC now owns 102,997 shares of the company’s stock worth $7,355,000 after buying an additional 904 shares during the period. Naples Global Advisors LLC increased its position in Altria Group by 6.1% during the fourth quarter. Naples Global Advisors LLC now owns 23,255 shares of the company’s stock worth $1,661,000 after buying an additional 1,342 shares during the period. Prime Capital Investment Advisors LLC acquired a new position in Altria Group during the fourth quarter worth approximately $1,044,000. Finally, Virtue Capital Management LLC acquired a new position in Altria Group during the fourth quarter worth approximately $1,049,000. Institutional investors and hedge funds own 62.54% of the company’s stock.
NYSE:MO opened at $61.50 on Thursday. The company has a market capitalization of $122,103.84, a PE ratio of 18.20, a P/E/G ratio of 1.86 and a beta of 0.62. The company has a current ratio of 0.64, a quick ratio of 0.31 and a debt-to-equity ratio of 0.85. Altria Group Inc has a 12-month low of $59.07 and a 12-month 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, beating the Zacks’ consensus estimate of $0.80 by $0.11. Altria Group had a return on equity of 50.01% and a net margin of 39.97%. The firm had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the previous year, the business earned $0.68 earnings per share. The company’s revenue for the quarter was down .4% compared to the same quarter last year. equities analysts predict that Altria Group Inc will post 4.01 earnings per share for the current year.
Altria Group announced that its board has authorized a share buyback plan on Thursday, February 1st that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 10th. Investors of record on Thursday, March 15th were paid a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, March 14th. This is an increase from Altria Group’s previous quarterly dividend of $0.66. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.55%. Altria Group’s payout ratio is 82.84%.
In related news, CEO Craig A. Johnson sold 14,953 shares of Altria Group stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $66.59, for a total value of $995,720.27. Following the sale, the chief executive officer now directly owns 64,809 shares in the company, valued at $4,315,631.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP W Hildebrandt Surgner, Jr. sold 3,200 shares of Altria Group stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $62.34, for a total value of $199,488.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,117 shares of company stock worth $1,821,707. Company insiders own 0.11% of the company’s stock.
Several research firms have commented on MO. Morgan Stanley cut their price target on Altria Group from $74.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Citigroup lowered Altria Group from a “buy” rating to a “neutral” rating and set a $75.00 target price on the stock. in a report on Wednesday. Royal Bank of Canada reissued a “sector perform” rating and issued a $62.00 target price (down previously from $65.00) on shares of Altria Group in a report on Monday, February 5th. Vetr raised Altria Group from a “hold” rating to a “buy” rating and set a $71.45 target price on the stock in a report on Monday, February 5th. Finally, Zacks Investment Research raised Altria Group from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $74.21.
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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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