KAMES CAPITAL plc bought a new position in shares of Altria Group Inc (NYSE:MO) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 8,839 shares of the company’s stock, valued at approximately $533,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. LFA Lugano Financial Advisors SA purchased a new stake in Altria Group during the 3rd quarter valued at approximately $103,000. IMA Wealth Inc. purchased a new stake in Altria Group during the 2nd quarter valued at approximately $106,000. BerganKDV Wealth Management LLC purchased a new stake in Altria Group during the 2nd quarter valued at approximately $123,000. BDO Wealth Advisors LLC grew its holdings in Altria Group by 165.5% during the 2nd quarter. BDO Wealth Advisors LLC now owns 2,222 shares of the company’s stock valued at $126,000 after buying an additional 1,385 shares in the last quarter. Finally, Point72 Asia Hong Kong Ltd purchased a new stake in Altria Group during the 1st quarter valued at approximately $147,000. Institutional investors own 63.12% of the company’s stock.
MO stock opened at $60.06 on Friday. Altria Group Inc has a fifty-two week low of $53.91 and a fifty-two week high of $74.38. The company has a quick ratio of 0.31, a current ratio of 0.65 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $113.69 billion, a P/E ratio of 17.77, a price-to-earnings-growth ratio of 1.71 and a beta of 0.61.
Altria Group (NYSE:MO) last posted its earnings results on Thursday, July 26th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. Altria Group had a net margin of 42.00% and a return on equity of 48.88%. The firm had revenue of $4.88 billion during the quarter, compared to analyst estimates of $5.02 billion. During the same period last year, the firm posted $0.85 earnings per share. Altria Group’s revenue for the quarter was down 3.7% compared to the same quarter last year. Analysts predict that Altria Group Inc will post 4 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 10th. Shareholders of record on Friday, September 14th were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 5.33%. This is a positive change from Altria Group’s previous quarterly dividend of $0.70. The ex-dividend date was Thursday, September 13th. Altria Group’s payout ratio is presently 94.67%.
MO has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Altria Group from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Tuesday, September 25th. Bank of America set a $70.00 target price on shares of Altria Group and gave the company a “buy” rating in a report on Thursday, September 13th. Stifel Nicolaus cut their target price on shares of Altria Group from $78.00 to $65.00 and set a “buy” rating for the company in a report on Friday, July 27th. Piper Jaffray Companies set a $75.00 target price on shares of Altria Group and gave the company a “buy” rating in a report on Monday, July 23rd. Finally, Morgan Stanley cut their target price on shares of Altria Group from $65.00 to $63.00 and set an “equal weight” rating for the company in a report on Tuesday, June 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $70.28.
In other Altria Group news, Director Dinyar S. Devitre sold 3,165 shares of Altria Group stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $58.44, for a total transaction of $184,962.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is owned by insiders.
Altria Group 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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