Warren Averett Asset Management LLC cut its position in Altria Group Inc (NYSE:MO) by 17.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,654 shares of the company’s stock after selling 998 shares during the quarter. Warren Averett Asset Management LLC’s holdings in Altria Group were worth $267,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Dean Investment Associates LLC increased its position in Altria Group by 7.0% in the 4th quarter. Dean Investment Associates LLC now owns 37,281 shares of the company’s stock valued at $1,841,000 after acquiring an additional 2,451 shares during the period. 6 Meridian increased its position in Altria Group by 29.1% in the 1st quarter. 6 Meridian now owns 464,466 shares of the company’s stock valued at $26,674,000 after acquiring an additional 104,611 shares during the period. GYL Financial Synergies LLC acquired a new position in Altria Group in the 4th quarter valued at approximately $380,000. AGF Investments America Inc. increased its position in Altria Group by 2.0% in the 4th quarter. AGF Investments America Inc. now owns 65,925 shares of the company’s stock valued at $3,256,000 after acquiring an additional 1,323 shares during the period. Finally, Sowell Financial Services LLC increased its position in Altria Group by 4.1% in the 4th quarter. Sowell Financial Services LLC now owns 108,774 shares of the company’s stock valued at $5,372,000 after acquiring an additional 4,252 shares during the period. Institutional investors own 64.49% of the company’s stock.
Several brokerages have issued reports on MO. ValuEngine upgraded shares of Altria Group from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Citigroup set a $45.00 price target on shares of Altria Group and gave the company a “sell” rating in a research report on Friday, April 26th. Zacks Investment Research upgraded shares of Altria Group from a “sell” rating to a “hold” rating in a research report on Monday, April 8th. Bank of America upped their price target on shares of Altria Group from $56.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, Morgan Stanley upped their price target on shares of Altria Group from $45.00 to $49.00 and gave the company an “underweight” rating in a research report on Monday, April 15th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $61.91.
NYSE:MO opened at $51.59 on Thursday. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.39 and a current ratio of 0.62. Altria Group Inc has a 52 week low of $42.40 and a 52 week high of $66.04. The firm has a market capitalization of $97.57 billion, a PE ratio of 12.93, a PEG ratio of 1.63 and a beta of 0.44.
Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, April 25th. The company reported $0.90 EPS for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.02). Altria Group had a net margin of 24.87% and a return on equity of 49.42%. The firm had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.60 billion. During the same period in the prior year, the company posted $0.95 earnings per share. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. Equities research analysts forecast that Altria Group Inc will post 4.17 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Friday, June 14th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 6.20%. The ex-dividend date is Thursday, June 13th. Altria Group’s dividend payout ratio is currently 80.20%.
In other Altria Group news, SVP Jody L. Begley sold 3,250 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $53.38, for a total transaction of $173,485.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP W Hildebrandt Surgner, Jr. sold 2,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $52.48, for a total transaction of $104,960.00. The disclosure for this sale can be found here. Corporate 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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