Brinker Capital Investments LLC lifted its holdings in Altria Group, Inc. (NYSE:MO) by 55.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 210,331 shares of the company’s stock after acquiring an additional 75,107 shares during the period. Brinker Capital Investments LLC’s holdings in Altria Group were worth $10,786,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in MO. Freedman Financial Associates Inc. acquired a new stake in Altria Group during the 4th quarter valued at $25,000. TRU Independence Asset Management 2 LLC acquired a new stake in Altria Group during the 4th quarter valued at $25,000. Encompass Wealth Advisors LLC acquired a new stake in Altria Group during the 4th quarter valued at $25,000. Financial Avengers Inc. acquired a new stake in Altria Group during the 4th quarter valued at $29,000. Finally, JNBA Financial Advisors grew its holdings in Altria Group by 158.2% during the 1st quarter. JNBA Financial Advisors now owns 581 shares of the company’s stock valued at $30,000 after purchasing an additional 356 shares in the last quarter. 60.65% of the stock is owned by institutional investors.
A number of research firms have commented on MO. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell reiterated a “neutral” rating and set a $46.00 price objective on shares of Altria Group in a research note on Monday, March 22nd. Argus reiterated a “hold” rating on shares of Altria Group in a research note on Tuesday, May 11th. Stifel Nicolaus reiterated a “buy” rating and set a $56.00 price objective on shares of Altria Group in a research note on Friday, April 16th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Altria Group from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, March 19th. Finally, Jefferies Financial Group upgraded shares of Altria Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $40.00 to $58.00 in a research note on Friday, March 26th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $51.10.
Altria Group (NYSE:MO) last issued its quarterly earnings data on Wednesday, April 28th. The company reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.03. The firm had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.98 billion. Altria Group had a net margin of 16.80% and a return on equity of 215.81%. Altria Group’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period last year, the firm posted $1.09 EPS. As a group, sell-side analysts anticipate that Altria Group, Inc. will post 4.57 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 9th. Investors of record on Tuesday, June 15th will be given a $0.86 dividend. The ex-dividend date of this dividend is Monday, June 14th. This represents a $3.44 annualized dividend and a yield of 6.86%. Altria Group’s dividend payout ratio is presently 78.90%.
In other news, Director Ellen R. Strahlman acquired 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 26th. The shares were purchased at an average cost of $49.59 per share, for a total transaction of $99,180.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.07% of the company’s stock.
Altria Group Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, oral tobacco 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, as well as provides on! oral nicotine pouches.
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