Intellectus Partners LLC grew its holdings in Altria Group Inc (NYSE:MO) by 55.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,834 shares of the company’s stock after acquiring an additional 4,912 shares during the quarter. Intellectus Partners LLC’s holdings in Altria Group were worth $577,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of MO. Waters Parkerson & CO. LLC lifted its holdings in shares of Altria Group by 0.3% during the second quarter. Waters Parkerson & CO. LLC now owns 73,348 shares of the company’s stock worth $3,473,000 after purchasing an additional 225 shares during the period. Outlook Wealth Advisors LLC lifted its holdings in Altria Group by 2.6% in the second quarter. Outlook Wealth Advisors LLC now owns 9,006 shares of the company’s stock valued at $426,000 after acquiring an additional 225 shares during the period. Busey Wealth Management lifted its holdings in Altria Group by 1.5% in the second quarter. Busey Wealth Management now owns 15,478 shares of the company’s stock valued at $732,000 after acquiring an additional 234 shares during the period. Investors Asset Management of Georgia Inc. GA ADV lifted its holdings in Altria Group by 0.6% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 37,591 shares of the company’s stock valued at $1,780,000 after acquiring an additional 240 shares during the period. Finally, Trust Co. of Toledo NA OH lifted its holdings in Altria Group by 5.4% in the second quarter. Trust Co. of Toledo NA OH now owns 4,719 shares of the company’s stock valued at $223,000 after acquiring an additional 240 shares during the period. 63.25% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have issued reports on the company. Barclays set a $50.00 price target on Altria Group and gave the company a “buy” rating in a report on Tuesday. TheStreet downgraded Altria Group from a “b-” rating to a “c+” rating in a report on Wednesday, August 14th. Royal Bank of Canada set a $68.00 price target on Altria Group and gave the company a “buy” rating in a report on Wednesday, July 31st. Morgan Stanley set a $44.00 price target on Altria Group and gave the company a “hold” rating in a report on Tuesday, September 24th. Finally, ValuEngine raised Altria Group from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $56.26.
Shares of NYSE:MO opened at $42.57 on Friday. Altria Group Inc has a 12-month low of $39.30 and a 12-month high of $66.04. The company has a market capitalization of $79.32 billion, a PE ratio of 10.67, a PEG ratio of 1.58 and a beta of 0.40. The business has a 50 day moving average of $42.72 and a two-hundred day moving average of $49.03. The company has a current ratio of 0.56, a quick ratio of 0.28 and a debt-to-equity ratio of 1.87.
Altria Group (NYSE:MO) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.10 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.10. The business had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. Altria Group had a return on equity of 51.53% and a net margin of 25.04%. The business’s revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 earnings per share. Equities research analysts predict that Altria Group Inc will post 4.21 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Monday, September 16th were given a $0.84 dividend. The ex-dividend date was Friday, September 13th. This is a boost from Altria Group’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a dividend yield of 7.89%. Altria Group’s payout ratio is 84.21%.
Altria Group announced that its board has approved a share buyback plan on Tuesday, July 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 1.1% of its stock through open market purchases. Stock repurchase plans are typically 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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