Opus Investment Management Inc. raised its position in shares of Altria (NYSE:MO) by 12.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,000 shares of the company’s stock after purchasing an additional 4,000 shares during the quarter. Opus Investment Management Inc.’s holdings in Altria were worth $2,181,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Oak Point Wealth Management purchased a new position in shares of Altria in the fourth quarter worth $120,000. Taylor Hoffman Wealth Management purchased a new position in shares of Altria in the fourth quarter worth $120,000. Smart Portfolios LLC purchased a new position in shares of Altria in the first quarter worth $129,000. Pinnacle Wealth Planning Services Inc. purchased a new position in shares of Altria in the fourth quarter worth $134,000. Finally, Acropolis Investment Management LLC lifted its holdings in shares of Altria by 1,202.0% in the fourth quarter. Acropolis Investment Management LLC now owns 1,953 shares of the company’s stock worth $139,000 after buying an additional 1,803 shares in the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.
Altria opened at $55.89 on Friday, MarketBeat Ratings reports. The firm has a market cap of $105.76 billion, a P/E ratio of 16.54, a price-to-earnings-growth ratio of 1.63 and a beta of 0.63. The company has a current ratio of 0.65, a quick ratio of 0.34 and a debt-to-equity ratio of 0.85. Altria has a 52-week low of $53.91 and a 52-week high of $77.79.
Altria (NYSE:MO) last released its quarterly earnings results on Thursday, April 26th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.02. The company had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.63 billion. Altria had a net margin of 41.85% and a return on equity of 49.92%. Altria’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.73 earnings per share. equities research analysts predict that Altria will post 4 earnings per share for the current fiscal year.
Altria declared that its board has authorized a share buyback plan on Thursday, February 1st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 10th. Investors of record on Friday, June 15th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date is Thursday, June 14th. Altria’s payout ratio is 82.84%.
In other Altria news, VP W Hildebrandt Surgner, Jr. sold 3,200 shares of the business’s stock in a transaction on 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 SEC, which is available at the SEC website. Also, Director Mark Newman acquired 5,345 shares of the business’s stock in a transaction on Monday, April 30th. The shares were purchased at an average price of $56.19 per share, for a total transaction of $300,335.55. Following the transaction, the director now directly owns 6,022 shares of the company’s stock, valued at $338,376.18. The disclosure for this purchase can be found here. 0.11% of the stock is owned by corporate insiders.
MO has been the topic of several research analyst reports. Jefferies Group reissued a “buy” rating and issued a $84.00 target price on shares of Altria in a report on Thursday, March 15th. Vetr raised shares of Altria from a “sell” rating to a “hold” rating and set a $71.45 target price on the stock in a report on Friday, January 26th. Zacks Investment Research raised shares of Altria 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. Piper Jaffray Companies boosted their target price on shares of Altria from $76.00 to $81.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Finally, Citigroup downgraded shares of Altria from a “buy” rating to a “neutral” rating and set a $75.00 target price on the stock. in a report on Wednesday, April 18th. Three analysts have rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $73.42.
Altria Company Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.
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