WBI Investments Inc. bought a new stake in shares of Altria Group Inc (NYSE:MO) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 112,011 shares of the company’s stock, valued at approximately $6,755,000.
Several other hedge funds have also added to or reduced their stakes in the stock. Pekin Singer Strauss Asset Management IL lifted its position in shares of Altria Group by 9.9% in the 2nd quarter. Pekin Singer Strauss Asset Management IL now owns 9,510 shares of the company’s stock worth $540,000 after purchasing an additional 859 shares during the period. Burney Co. lifted its position in shares of Altria Group by 4.0% in the 2nd quarter. Burney Co. now owns 22,348 shares of the company’s stock worth $1,269,000 after purchasing an additional 859 shares during the period. Reliance Trust Co. of Delaware lifted its position in shares of Altria Group by 1.3% in the 3rd quarter. Reliance Trust Co. of Delaware now owns 65,627 shares of the company’s stock worth $3,958,000 after purchasing an additional 871 shares during the period. Cpwm LLC lifted its position in shares of Altria Group by 23.9% in the 2nd quarter. Cpwm LLC now owns 4,527 shares of the company’s stock worth $257,000 after purchasing an additional 874 shares during the period. Finally, 180 Wealth Advisors LLC lifted its position in shares of Altria Group by 3.9% in the 2nd quarter. 180 Wealth Advisors LLC now owns 23,305 shares of the company’s stock worth $1,323,000 after purchasing an additional 878 shares during the period. 63.23% of the stock is currently owned by institutional investors.
Several equities research analysts have recently commented on the stock. Argus raised their target price on shares of Altria Group from $70.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, October 29th. ValuEngine raised shares of Altria Group from a “sell” rating to a “hold” rating in a research report on Tuesday, October 23rd. Piper Jaffray Companies set a $75.00 target price on shares of Altria Group and gave the stock a “buy” rating in a research report on Tuesday, October 23rd. Sanford C. Bernstein began coverage on shares of Altria Group in a research report on Tuesday, October 23rd. They issued a “market perform” rating for the company. Finally, Zacks Investment Research cut shares of Altria Group from a “buy” rating to a “hold” rating in a research report on Wednesday, October 10th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Altria Group has an average rating of “Buy” and an average target price of $69.87.
Shares of NYSE MO opened at $63.67 on Friday. Altria Group Inc has a 1 year low of $53.91 and a 1 year high of $74.38. The stock has a market cap 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. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.60 and a quick ratio of 0.36.
Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, October 25th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.01. Altria Group had a net margin of 42.13% and a return on equity of 48.31%. The company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.22 billion. As a group, research analysts forecast that Altria Group Inc will post 3.99 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 10th. Investors of record on Friday, September 14th were given a dividend of $0.80 per share. This is a boost from Altria Group’s previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date of this dividend was Thursday, September 13th. Altria Group’s dividend payout ratio (DPR) is 94.67%.
In related news, Director Dinyar S. Devitre sold 3,165 shares of Altria Group 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.11% of the company’s stock.
About Altria Group
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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