Pinnacle Financial Partners Inc. boosted its position in shares of Altria Group Inc (NYSE:MO) by 12.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 111,142 shares of the company’s stock after acquiring an additional 11,930 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in Altria Group were worth $6,702,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MO. Exeter Financial LLC increased its holdings in shares of Altria Group by 8.7% in the second quarter. Exeter Financial LLC now owns 20,414 shares of the company’s stock valued at $1,159,000 after purchasing an additional 1,638 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Altria Group in the second quarter valued at approximately $20,143,000. Independence Bank of Kentucky increased its holdings in shares of Altria Group by 13.2% in the second quarter. Independence Bank of Kentucky now owns 14,488 shares of the company’s stock valued at $823,000 after purchasing an additional 1,685 shares during the period. Private Advisor Group LLC increased its holdings in shares of Altria Group by 86.2% in the second quarter. Private Advisor Group LLC now owns 222,215 shares of the company’s stock valued at $12,456,000 after purchasing an additional 102,859 shares during the period. Finally, BKD Wealth Advisors LLC increased its holdings in shares of Altria Group by 8.8% in the third quarter. BKD Wealth Advisors LLC now owns 13,777 shares of the company’s stock valued at $831,000 after purchasing an additional 1,117 shares during the period. 63.23% of the stock is currently owned by institutional investors.
Altria Group stock opened at $63.67 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.36 and a debt-to-equity ratio of 0.77. Altria Group Inc has a 1-year low of $53.91 and a 1-year high of $74.38. The company has a market capitalization of $122.21 billion, a P/E ratio of 18.84, a price-to-earnings-growth ratio of 1.85 and a beta of 0.40.
Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, October 25th. The company reported $1.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.01. Altria Group had a return on equity of 48.31% and a net margin of 42.13%. The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.22 billion. On average, equities analysts anticipate that Altria Group Inc will post 3.99 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 10th. Shareholders of record on Friday, September 14th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 5.03%. This is an increase 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%.
A number of research analysts have recently issued reports on the company. Argus boosted their target price on Altria Group from $70.00 to $71.00 and gave the company a “buy” rating in a report on Monday, October 29th. Zacks Investment Research lowered Altria Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 10th. Citigroup boosted their target price on Altria Group from $59.00 to $67.00 and gave the company a “hold” rating in a report on Friday, September 21st. ValuEngine upgraded Altria Group from a “sell” rating to a “hold” rating in a research note on Tuesday, October 23rd. Finally, Sanford C. Bernstein assumed coverage on Altria Group in a research note on Tuesday, October 16th. They issued a “market perform” rating on the stock. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $69.87.
In other Altria Group news, Director Dinyar S. Devitre sold 3,165 shares of the business’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $58.44, for a total transaction of $184,962.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is currently 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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