Advisory Services Network LLC boosted its stake in Altria Group Inc (NYSE:MO) by 5.8% in the third quarter, HoldingsChannel.com reports. The firm owned 83,793 shares of the company’s stock after buying an additional 4,572 shares during the period. Advisory Services Network LLC’s holdings in Altria Group were worth $5,054,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the business. Zions Bancorporation grew its holdings in shares of Altria Group by 9.4% during the third quarter. Zions Bancorporation now owns 37,665 shares of the company’s stock valued at $2,272,000 after buying an additional 3,246 shares during the last quarter. WESPAC Advisors LLC grew its holdings in shares of Altria Group by 109.5% during the third quarter. WESPAC Advisors LLC now owns 13,391 shares of the company’s stock valued at $808,000 after buying an additional 6,998 shares during the last quarter. Doliver Capital Advisors LP grew its holdings in shares of Altria Group by 5.7% during the third quarter. Doliver Capital Advisors LP now owns 44,803 shares of the company’s stock valued at $2,702,000 after buying an additional 2,431 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Altria Group during the third quarter valued at about $2,358,000. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Altria Group by 9.2% during the third quarter. Daiwa Securities Group Inc. now owns 79,711 shares of the company’s stock valued at $4,807,000 after buying an additional 6,700 shares during the last quarter. Institutional investors and hedge funds own 63.33% of the company’s stock.
A number of research firms recently weighed in on MO. Argus raised their price target on shares of Altria Group from $70.00 to $71.00 and gave the company 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 price target on shares of Altria Group and gave the company 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 set a “market perform” rating on the stock. Finally, Zacks Investment Research lowered shares of Altria Group from a “buy” rating to a “hold” rating in a research report on Wednesday, October 10th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $69.87.
MO opened at $64.87 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.36 and a current ratio of 0.60. Altria Group Inc has a fifty-two week low of $53.91 and a fifty-two week high of $74.38. The stock has a market cap of $119.64 billion, a P/E ratio of 19.19, a PEG ratio of 1.81 and a beta of 0.40.
Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, October 25th. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.01. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.22 billion. Altria Group had a net margin of 42.13% and a return on equity of 48.31%. Equities research analysts predict that Altria Group Inc will post 3.99 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 10th. Shareholders of record on Friday, September 14th were given a $0.80 dividend. This is a positive change from Altria Group’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $3.20 annualized dividend and a yield of 4.93%. Altria Group’s payout ratio is currently 94.67%.
In other Altria Group 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 value of $184,962.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.11% of the company’s stock.
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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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