Landsberg Bennett & Dubbaneh LLC lowered its position in shares of Altria Group Inc (NYSE:MO) by 2.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 15,780 shares of the company’s stock after selling 361 shares during the quarter. Landsberg Bennett & Dubbaneh LLC’s holdings in Altria Group were worth $633,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in MO. HMS Capital Management LLC purchased a new stake in shares of Altria Group in the 2nd quarter worth about $41,000. Salomon & Ludwin LLC lifted its position in shares of Altria Group by 189.0% in the 2nd quarter. Salomon & Ludwin LLC now owns 867 shares of the company’s stock worth $41,000 after purchasing an additional 567 shares during the period. Titan Capital Management LLC CA purchased a new stake in shares of Altria Group in the 2nd quarter worth about $44,000. Interactive Financial Advisors lifted its position in shares of Altria Group by 166.7% in the 1st quarter. Interactive Financial Advisors now owns 800 shares of the company’s stock worth $46,000 after purchasing an additional 500 shares during the period. Finally, Perkins Coie Trust Co lifted its position in shares of Altria Group by 214.0% in the 2nd quarter. Perkins Coie Trust Co now owns 967 shares of the company’s stock worth $46,000 after purchasing an additional 659 shares during the period. 63.25% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on MO shares. ValuEngine raised shares of Altria Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Wells Fargo & Co reaffirmed a “buy” rating on shares of Altria Group in a research report on Monday, August 26th. Morgan Stanley set a $44.00 target price on shares of Altria Group and gave the stock a “hold” rating in a research report on Tuesday, September 24th. TheStreet cut shares of Altria Group from a “b-” rating to a “c+” rating in a research report on Wednesday, August 14th. Finally, Goldman Sachs Group cut shares of Altria Group from a “buy” rating to a “neutral” rating and set a $49.86 target price for the company. in a research report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $56.26.
Shares of Altria Group stock opened at $42.57 on Friday. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.56 and a quick ratio of 0.28. The company has a 50-day moving average of $42.72 and a 200 day moving average of $49.03. The firm has a market cap of $79.32 billion, a price-to-earnings ratio of 10.67, a PEG ratio of 1.58 and a beta of 0.40. Altria Group Inc has a 1 year low of $39.30 and a 1 year high of $66.04.
Altria Group (NYSE:MO) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.10 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.10. The company had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.08 billion. Altria Group had a net margin of 25.04% and a return on equity of 51.53%. Altria Group’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the business earned $1.01 EPS. On average, equities analysts anticipate that Altria Group Inc will post 4.21 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 16th were paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 7.89%. This is a positive change from Altria Group’s previous quarterly dividend of $0.80. The ex-dividend date was Friday, September 13th. Altria Group’s dividend payout ratio (DPR) is presently 84.21%.
Altria Group announced that its board has authorized a share repurchase plan on Tuesday, July 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to purchase up to 1.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
Altria Group 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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