Triangle Securities Wealth Management lowered its stake in shares of Altria Group Inc (NYSE:MO) by 49.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 5,552 shares of the company’s stock after selling 5,457 shares during the period. Triangle Securities Wealth Management’s holdings in Altria Group were worth $319,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Telemus Capital LLC grew its holdings in Altria Group by 0.7% in the fourth quarter. Telemus Capital LLC now owns 29,218 shares of the company’s stock worth $1,443,000 after purchasing an additional 207 shares during the period. Intellectus Partners LLC grew its holdings in Altria Group by 3.7% in the fourth quarter. Intellectus Partners LLC now owns 5,977 shares of the company’s stock worth $300,000 after purchasing an additional 211 shares during the period. BLB&B Advisors LLC grew its holdings in Altria Group by 1.8% in the fourth quarter. BLB&B Advisors LLC now owns 11,925 shares of the company’s stock worth $589,000 after purchasing an additional 216 shares during the period. Sabal Trust CO grew its holdings in Altria Group by 5.0% in the fourth quarter. Sabal Trust CO now owns 4,854 shares of the company’s stock worth $240,000 after purchasing an additional 231 shares during the period. Finally, Park National Corp OH grew its holdings in Altria Group by 1.4% in the first quarter. Park National Corp OH now owns 17,438 shares of the company’s stock worth $1,001,000 after purchasing an additional 236 shares during the period. Institutional investors own 64.35% of the company’s stock.
MO has been the topic of a number of recent research reports. TheStreet upgraded shares of Altria Group from a “c+” rating to a “b-” rating in a report on Friday, March 29th. Bank of America upped their price objective on shares of Altria Group from $56.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Deutsche Bank cut their price objective on shares of Altria Group from $62.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, December 21st. ValuEngine upgraded shares of Altria Group from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. Finally, Zacks Investment Research upgraded shares of Altria Group from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. Altria Group has an average rating of “Hold” and a consensus price target of $63.11.
In related news, VP Ivan S. Feldman sold 6,802 shares of the stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $51.18, for a total transaction of $348,126.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Nabil Y. Sakkab acquired 1,352 shares of the stock in a transaction that occurred on Monday, February 25th. The shares were bought at an average price of $52.11 per share, for a total transaction of $70,452.72. Following the transaction, the director now owns 39,660 shares of the company’s stock, valued at $2,066,682.60. The disclosure for this purchase can be found here. 0.11% of the stock is owned by corporate insiders.
Shares of Altria Group stock opened at $56.18 on Thursday. The company has a market cap of $105.59 billion, a P/E ratio of 14.08, a P/E/G ratio of 1.63 and a beta of 0.39. Altria Group Inc has a twelve month low of $42.40 and a twelve month high of $66.04. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.09 and a current ratio of 0.20.
Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, January 31st. The company reported $0.95 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.95. The company had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.81 billion. Altria Group had a net margin of 27.45% and a return on equity of 49.05%. During the same quarter in the prior year, the firm earned $0.91 earnings per share. On average, research analysts anticipate that Altria Group Inc will post 4.2 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, March 25th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, March 22nd. This represents a $3.20 dividend on an annualized basis and a yield of 5.70%. Altria Group’s dividend payout ratio (DPR) is 80.20%.
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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