Kwmg LLC raised its stake in shares of Altria Group Inc (NYSE:MO) by 4.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 48,937 shares of the company’s stock after acquiring an additional 2,011 shares during the quarter. Kwmg LLC’s holdings in Altria Group were worth $2,002,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Julex Capital Management LLC bought a new position in Altria Group during the third quarter valued at about $25,000. Vigilant Capital Management LLC raised its holdings in Altria Group by 140.3% during the third quarter. Vigilant Capital Management LLC now owns 704 shares of the company’s stock valued at $29,000 after buying an additional 411 shares in the last quarter. HMS Capital Management LLC bought a new position in Altria Group during the second quarter valued at about $41,000. Salomon & Ludwin LLC raised its holdings in Altria Group by 189.0% during the second quarter. Salomon & Ludwin LLC now owns 867 shares of the company’s stock valued at $41,000 after buying an additional 567 shares in the last quarter. Finally, Titan Capital Management LLC CA bought a new position in shares of Altria Group in the second quarter worth about $44,000. Institutional investors own 63.28% of the company’s stock.
MO traded up $0.62 on Tuesday, hitting $46.18. 6,080,539 shares of the stock traded hands, compared to its average volume of 10,995,653. Altria Group Inc has a 52 week low of $39.30 and a 52 week high of $66.04. The company has a current ratio of 0.56, a quick ratio of 0.28 and a debt-to-equity ratio of 1.87. The firm has a market capitalization of $82.81 billion, a PE ratio of 11.57, a P/E/G ratio of 1.65 and a beta of 0.40. The business has a fifty day moving average price of $42.32 and a two-hundred day moving average price of $48.36.
Altria Group (NYSE:MO) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.10. Altria Group had a return on equity of 51.53% and a net margin of 25.04%. The firm had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.08 billion. During the same period in the previous year, the company posted $1.01 earnings per share. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, equities research analysts forecast that Altria Group Inc will post 4.2 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 16th were paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 7.28%. This is a positive change from Altria Group’s previous quarterly dividend of $0.80. The ex-dividend date was Friday, September 13th. Altria Group’s payout ratio is currently 84.21%.
Altria Group announced that its board has authorized a share repurchase plan on Tuesday, July 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 1.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
MO has been the topic of a number of recent analyst reports. Argus set a $60.00 price objective on Altria Group and gave the stock a “buy” rating in a research note on Thursday, October 10th. Citigroup upgraded Altria Group from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $45.00 to $46.00 in a research note on Friday. Goldman Sachs Group lowered Altria Group from a “buy” rating to a “neutral” rating and set a $49.86 price objective on the stock. in a research note on Friday, July 12th. Royal Bank of Canada set a $68.00 price objective on Altria Group and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, TheStreet lowered Altria Group from a “b-” rating to a “c+” rating in a research note on Wednesday, August 14th. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $55.35.
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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