Private Advisor Group LLC raised its position in Altria Group (NYSE:MO) by 11.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 202,787 shares of the company’s stock after buying an additional 20,577 shares during the period. Private Advisor Group LLC’s holdings in Altria Group were worth $14,135,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. First PREMIER Bank purchased a new position in shares of Altria Group during the second quarter worth about $103,000. First Personal Financial Services raised its position in shares of Altria Group by 66.3% in the second quarter. First Personal Financial Services now owns 1,603 shares of the company’s stock worth $111,000 after buying an additional 639 shares during the last quarter. Tortoise Investment Management LLC raised its position in shares of Altria Group by 26.6% in the second quarter. Tortoise Investment Management LLC now owns 1,654 shares of the company’s stock worth $114,000 after buying an additional 348 shares during the last quarter. CapWealth Advisors LLC raised its position in shares of Altria Group by 6.3% in the first quarter. CapWealth Advisors LLC now owns 2,073 shares of the company’s stock worth $130,000 after buying an additional 123 shares during the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in shares of Altria Group by 4.8% in the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,086 shares of the company’s stock worth $144,000 after buying an additional 96 shares during the last quarter. 61.29% of the stock is owned by institutional investors and hedge funds.
Shares of Altria Group (NYSE:MO) opened at 63.23 on Friday. The company’s 50 day moving average price is $65.00 and its 200 day moving average price is $64.95. Altria Group has a one year low of $55.01 and a one year high of $70.15. The stock has a market capitalization of $123.55 billion, a price-to-earnings ratio of 21.95 and a beta of 0.48.
Altria Group (NYSE:MO) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.01. Altria Group had a net margin of 22.05% and a return on equity of 198.82%. The company earned $6.52 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter in the prior year, the firm posted $0.74 EPS. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. On average, analysts expect that Altria Group will post $3.05 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 11th. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date is Tuesday, September 13th. This is an increase from Altria Group’s previous quarterly dividend of $0.57. Altria Group’s dividend payout ratio is 84.72%.
A number of equities analysts have issued reports on the company. Citigroup Inc. reaffirmed a “buy” rating and set a $72.00 price target on shares of Altria Group in a research note on Monday, September 26th. Vetr lowered Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.67 price target for the company. in a research note on Thursday, September 22nd. Jefferies Group assumed coverage on Altria Group in a research note on Wednesday, September 21st. They set a “hold” rating and a $70.00 price target for the company. Credit Agricole SA decreased their price target on Altria Group from $69.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, September 15th. Finally, Zacks Investment Research raised Altria Group from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a research note on Thursday, August 4th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $69.44.
In related news, SVP James E. Dillard III sold 9,000 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $66.68, for a total value of $600,120.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Charles N. Whitaker sold 11,000 shares of the stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $66.53, for a total transaction of $731,830.00. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.
Altria Group Company Profile
Altria Group, Inc is a holding company. The Company’s subsidiaries include Philip Morris USA Inc (PM USA), which is engaged in the manufacture and sale of cigarettes in the United States; John Middleton Co (Middleton), which is engaged in the manufacture and sale of machine-made large cigars and pipe tobacco, and UST LLC (UST), which through its subsidiaries, including U.S.
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