Flagship Harbor Advisors LLC lifted its stake in shares of Altria Group Inc (NYSE:MO) by 8.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,919 shares of the company’s stock after purchasing an additional 1,632 shares during the period. Flagship Harbor Advisors LLC’s holdings in Altria Group were worth $1,143,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Baugh & Associates LLC lifted its holdings in Altria Group by 0.6% in the fourth quarter. Baugh & Associates LLC now owns 58,985 shares of the company’s stock valued at $2,913,000 after acquiring an additional 360 shares during the last quarter. CX Institutional raised its position in Altria Group by 45.9% in the fourth quarter. CX Institutional now owns 36,512 shares of the company’s stock valued at $1,803,000 after purchasing an additional 11,479 shares during the period. Waller Financial Planning Group Inc. purchased a new stake in Altria Group in the fourth quarter valued at approximately $277,000. Dean Investment Associates LLC raised its position in Altria Group by 7.0% in the fourth quarter. Dean Investment Associates LLC now owns 37,281 shares of the company’s stock valued at $1,841,000 after purchasing an additional 2,451 shares during the period. Finally, Cooper Financial Group purchased a new stake in Altria Group in the fourth quarter valued at approximately $265,000. Institutional investors and hedge funds own 64.18% of the company’s stock.
Shares of Altria Group stock traded up $0.96 during trading hours on Wednesday, reaching $52.83. 6,509,463 shares of the company were exchanged, compared to its average volume of 10,818,124. Altria Group Inc has a 1 year low of $42.40 and a 1 year high of $66.04. The company has a current ratio of 0.62, a quick ratio of 0.39 and a debt-to-equity ratio of 1.92. The firm has a market capitalization of $97.94 billion, a P/E ratio of 13.24, a P/E/G ratio of 1.65 and a beta of 0.35.
Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, April 25th. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Altria Group had a return on equity of 49.42% and a net margin of 24.87%. The company had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.60 billion. During the same period in the prior year, the company posted $0.95 EPS. The firm’s revenue was down 6.0% compared to the same quarter last year. Sell-side analysts predict that Altria Group Inc will post 4.18 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 14th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 6.06%. The ex-dividend date is Thursday, June 13th. Altria Group’s dividend payout ratio (DPR) is presently 80.20%.
In related news, SVP Jody L. Begley sold 3,250 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $53.38, for a total value of $173,485.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Nabil Y. Sakkab bought 1,032 shares of the company’s stock in a transaction that occurred on Thursday, February 21st. The stock was acquired at an average cost of $50.42 per share, for a total transaction of $52,033.44. Following the acquisition, the director now directly owns 38,308 shares of the company’s stock, valued at $1,931,489.36. The disclosure for this purchase can be found here. Corporate insiders own 0.11% of the company’s stock.
A number of brokerages have issued reports on MO. Zacks Investment Research raised Altria Group from a “sell” rating to a “hold” rating in a research report on Monday, April 8th. Morgan Stanley lowered Altria Group from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, January 22nd. ValuEngine raised Altria Group from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 31st. Bank of America boosted their target price on Altria Group from $56.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, TheStreet raised Altria Group from a “c+” rating to a “b-” rating in a research report on Friday, March 29th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock 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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