Evanson Asset Management LLC trimmed its holdings in Altria Group Inc (NYSE:MO) by 7.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,020 shares of the company’s stock after selling 1,281 shares during the period. Evanson Asset Management LLC’s holdings in Altria Group were worth $696,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Greylin Investment Mangement Inc. boosted its position in shares of Altria Group by 10.0% during the third quarter. Greylin Investment Mangement Inc. now owns 7,085 shares of the company’s stock worth $290,000 after buying an additional 643 shares during the period. Intellectus Partners LLC boosted its position in shares of Altria Group by 55.1% during the third quarter. Intellectus Partners LLC now owns 13,834 shares of the company’s stock worth $577,000 after buying an additional 4,912 shares during the period. Townsend & Associates Inc boosted its position in shares of Altria Group by 35.1% during the third quarter. Townsend & Associates Inc now owns 73,137 shares of the company’s stock worth $3,072,000 after buying an additional 18,991 shares during the period. Pacer Advisors Inc. boosted its position in shares of Altria Group by 10.3% during the third quarter. Pacer Advisors Inc. now owns 291,570 shares of the company’s stock worth $11,925,000 after buying an additional 27,191 shares during the period. Finally, Quattro Financial Advisors LLC acquired a new position in shares of Altria Group during the third quarter worth about $1,870,000. 63.25% of the stock is owned by hedge funds and other institutional investors.
NYSE MO remained flat at $$42.98 during trading hours on Friday. The company had a trading volume of 4,654,486 shares, compared to its average volume of 14,594,293. The stock has a fifty day simple moving average of $42.78 and a 200-day simple moving average of $49.09. Altria Group Inc has a 1 year low of $39.30 and a 1 year high of $66.04. The company has a quick ratio of 0.28, a current ratio of 0.56 and a debt-to-equity ratio of 1.87. The stock has a market cap of $78.46 billion, a PE ratio of 10.77, a price-to-earnings-growth ratio of 1.56 and a beta of 0.40.
Altria Group (NYSE:MO) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.10 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 during the quarter, compared to analysts’ expectations of $5.08 billion. During the same period in the prior year, the firm posted $1.01 earnings per share. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. As a group, research analysts forecast that Altria Group Inc will post 4.21 EPS for the current fiscal year.
Altria Group declared that its Board of Directors has approved a stock repurchase plan on Tuesday, July 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 1.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 16th were given a dividend of $0.84 per share. 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 annualized dividend and a yield of 7.82%. Altria Group’s dividend payout ratio is 84.21%.
Several research firms have recently weighed in on MO. Royal Bank of Canada set a $68.00 price objective on Altria Group and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Piper Jaffray Companies set a $49.00 price objective on Altria Group and gave the stock a “hold” rating in a research report on Monday, September 30th. Cowen reaffirmed a “hold” rating on shares of Altria Group in a research report on Thursday, September 12th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Altria Group in a research report on Monday, August 26th. Finally, Morgan Stanley set a $44.00 price objective on Altria Group and gave the stock a “hold” rating in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $57.53.
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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