Gofen & Glossberg LLC IL trimmed its holdings in Altria Group Inc (NYSE:MO) by 2.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 147,072 shares of the company’s stock after selling 3,640 shares during the period. Gofen & Glossberg LLC IL’s holdings in Altria Group were worth $8,870,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of MO. LFA Lugano Financial Advisors SA purchased a new stake in shares of Altria Group in the third quarter valued at about $103,000. IMA Wealth Inc. purchased a new stake in shares of Altria Group in the second quarter valued at about $106,000. BerganKDV Wealth Management LLC purchased a new stake in shares of Altria Group in the second quarter valued at about $123,000. BDO Wealth Advisors LLC grew its holdings in shares of Altria Group by 165.5% in the second quarter. BDO Wealth Advisors LLC now owns 2,222 shares of the company’s stock valued at $126,000 after purchasing an additional 1,385 shares during the period. Finally, Point72 Asia Hong Kong Ltd purchased a new stake in shares of Altria Group in the first quarter valued at about $147,000. Institutional investors and hedge funds own 63.12% of the company’s stock.
Shares of MO stock opened at $60.06 on Friday. 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 stock has a market cap of $113.69 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 1.71 and a beta of 0.61. Altria Group Inc has a 1-year low of $53.91 and a 1-year high of $74.38.
Altria Group (NYSE:MO) last announced its earnings results on Thursday, July 26th. The company reported $1.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.01. The company had revenue of $4.88 billion during the quarter, compared to analyst estimates of $5.02 billion. Altria Group had a net margin of 42.00% and a return on equity of 48.88%. Altria Group’s revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.85 earnings per share. Equities research analysts anticipate that Altria Group Inc will post 4 earnings per share for the current fiscal year.
The business also recently announced 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%. The ex-dividend date was Thursday, September 13th. This is a positive change from Altria Group’s previous quarterly dividend of $0.70. Altria Group’s dividend payout ratio (DPR) is 94.67%.
A number of equities research analysts recently issued reports on MO shares. Jefferies Financial Group lowered shares of Altria Group from a “buy” rating to a “hold” rating and set a $61.00 price objective for the company. in a report on Friday, August 24th. 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 price objective on shares of Altria Group and gave the company a “buy” rating in a report on Thursday, September 13th. Stifel Nicolaus dropped their price objective 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. Finally, Piper Jaffray Companies set a $75.00 price objective on shares of Altria Group and gave the company a “buy” rating in a report on Monday, July 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $70.28.
In other Altria Group news, Director Dinyar S. Devitre sold 3,165 shares of the stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $58.44, for a total transaction of $184,962.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.11% of the company’s stock.
Altria Group 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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