Sawtooth Solutions LLC increased its stake in shares of Altria Group Inc (NYSE:MO) by 18.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,699 shares of the company’s stock after buying an additional 8,054 shares during the quarter. Sawtooth Solutions LLC’s holdings in Altria Group were worth $2,879,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in MO. Northwest Bancshares Inc. raised its position in shares of Altria Group by 56.4% during the 2nd quarter. Northwest Bancshares Inc. now owns 30,432 shares of the company’s stock worth $1,728,000 after purchasing an additional 10,976 shares during the last quarter. Integrated Investment Consultants LLC raised its position in shares of Altria Group by 123,149.6% during the 2nd quarter. Integrated Investment Consultants LLC now owns 481,906 shares of the company’s stock worth $504,000 after purchasing an additional 481,515 shares during the last quarter. Woodford Investment Management Ltd acquired a new position in shares of Altria Group during the 2nd quarter worth about $6,701,000. Frontier Investment Mgmt Co. raised its position in shares of Altria Group by 47.8% during the 2nd quarter. Frontier Investment Mgmt Co. now owns 13,046 shares of the company’s stock worth $741,000 after purchasing an additional 4,220 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of Altria Group by 3.4% during the 2nd quarter. BlackRock Inc. now owns 138,589,215 shares of the company’s stock worth $7,870,481,000 after purchasing an additional 4,581,335 shares during the last quarter. 63.27% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently weighed in on the stock. Jefferies Financial Group downgraded shares of Altria Group from a “buy” rating to a “hold” rating and set a $61.00 price target for the company. in a research report on Friday, August 24th. ValuEngine upgraded shares of Altria Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 15th. Stifel Nicolaus reduced their price target on shares of Altria Group from $78.00 to $65.00 and set a “buy” rating for the company in a research report on Friday, July 27th. Piper Jaffray Companies set a $75.00 price objective on shares of Altria Group and gave the company a “buy” rating in a report on Monday, July 23rd. Finally, Morgan Stanley cut their price objective on shares of Altria Group from $65.00 to $63.00 and set an “equal weight” rating for the company in a report on Tuesday, June 26th. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $71.01.
Shares of NYSE MO opened at $58.42 on Thursday. The company has a market cap of $111.24 billion, a PE ratio of 15.65, a PEG ratio of 1.72 and a beta of 0.65. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.65 and a quick ratio of 0.31. Altria Group Inc has a 1 year low of $53.91 and a 1 year high of $74.38.
Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, July 26th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.01. The business had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $5.02 billion. Altria Group had a net margin of 42.00% and a return on equity of 48.88%. The business’s revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.85 EPS. sell-side analysts expect that Altria Group Inc will post 4 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 10th. Stockholders of record on Friday, September 14th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 5.48%. This is an increase from Altria Group’s previous quarterly dividend of $0.70. Altria Group’s dividend payout ratio (DPR) is currently 82.84%.
Altria Group announced that its Board of Directors has initiated a share buyback program on Thursday, May 17th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
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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