BT Wealth Management LLC cut its holdings in Altria Group Inc (NYSE:MO) by 27.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,491 shares of the company’s stock after selling 2,766 shares during the period. BT Wealth Management LLC’s holdings in Altria Group were worth $430,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Baugh & Associates LLC increased its position in shares of Altria Group by 0.6% during the fourth quarter. Baugh & Associates LLC now owns 58,985 shares of the company’s stock worth $2,913,000 after acquiring an additional 360 shares during the period. CX Institutional increased its position in shares of Altria Group by 45.9% during the fourth quarter. CX Institutional now owns 36,512 shares of the company’s stock worth $1,803,000 after acquiring an additional 11,479 shares during the period. Waller Financial Planning Group Inc. purchased a new stake in shares of Altria Group during the fourth quarter worth $277,000. Dean Investment Associates LLC increased its position in shares of Altria Group by 7.0% during the fourth quarter. Dean Investment Associates LLC now owns 37,281 shares of the company’s stock worth $1,841,000 after acquiring an additional 2,451 shares during the period. Finally, Cooper Financial Group purchased a new stake in shares of Altria Group during the fourth quarter worth $265,000. Hedge funds and other institutional investors own 64.18% of the company’s stock.
NYSE:MO traded up $0.96 during trading hours on Wednesday, hitting $52.83. The company’s stock had a trading volume of 6,509,463 shares, compared to its average volume of 10,818,124. The firm has a market capitalization of $97.94 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 1.65 and a beta of 0.35. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.62 and a quick ratio of 0.39. Altria Group Inc has a 52-week low of $42.40 and a 52-week high of $66.04.
Altria Group (NYSE:MO) last posted its earnings results on Thursday, April 25th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). Altria Group had a net margin of 24.87% and a return on equity of 49.42%. The business had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.60 billion. During the same period last year, the company earned $0.95 EPS. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. As a group, equities analysts anticipate that Altria Group Inc will post 4.18 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Friday, June 14th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $3.20 annualized dividend and a yield of 6.06%. Altria Group’s dividend payout ratio is presently 80.20%.
In related news, Director Nabil Y. Sakkab acquired 1,032 shares of the firm’s stock in a transaction on Thursday, February 21st. The stock was bought at an average price of $50.42 per share, for a total transaction of $52,033.44. Following the completion of the purchase, the director now directly owns 38,308 shares of the company’s stock, valued at approximately $1,931,489.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Ivan S. Feldman sold 6,802 shares of the company’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $51.18, for a total transaction of $348,126.36. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.
A number of research firms have recently weighed in on MO. Citigroup set a $45.00 price objective on Altria Group and gave the stock a “sell” rating in a research report on Friday, April 26th. Morgan Stanley upped their price objective on Altria Group from $45.00 to $49.00 and gave the stock an “underweight” rating in a research report on Monday, April 15th. Zacks Investment Research raised Altria Group from a “sell” rating to a “hold” rating in a research report on Monday, April 8th. ValuEngine lowered Altria Group from a “hold” rating to a “sell” rating in a research report on Thursday, April 4th. Finally, TheStreet raised Altria Group from a “c+” rating to a “b-” rating in a report on Friday, March 29th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $62.53.
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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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