Hourglass Capital LLC Invests $571,000 in Altria Group, Inc. $MO

Hourglass Capital LLC acquired a new stake in Altria Group, Inc. (NYSE:MOFree Report) in the fourth quarter, HoldingsChannel reports. The firm acquired 9,900 shares of the company’s stock, valued at approximately $571,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Darwin Wealth Management LLC purchased a new stake in Altria Group in the 2nd quarter worth approximately $27,000. EMC Capital Management acquired a new position in Altria Group in the 3rd quarter valued at $33,000. Elevation Wealth Partners LLC lifted its stake in shares of Altria Group by 79.0% during the 4th quarter. Elevation Wealth Partners LLC now owns 630 shares of the company’s stock worth $36,000 after purchasing an additional 278 shares during the period. Gould Capital LLC purchased a new position in shares of Altria Group during the 3rd quarter worth $39,000. Finally, WFA of San Diego LLC acquired a new stake in shares of Altria Group during the second quarter worth $39,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.

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Altria Group Stock Performance

Shares of NYSE:MO opened at $66.46 on Friday. The business’s 50-day simple moving average is $65.60 and its 200 day simple moving average is $62.54. The company has a market cap of $111.11 billion, a P/E ratio of 16.17, a PEG ratio of 2.76 and a beta of 0.45. Altria Group, Inc. has a one year low of $52.82 and a one year high of $70.51.

Altria Group (NYSE:MOGet Free Report) last released its quarterly earnings results on Thursday, January 29th. The company reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.02). Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.The company had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $5.02 billion. During the same quarter in the prior year, the company earned $1.30 EPS. The firm’s revenue was down .5% compared to the same quarter last year. Analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, March 25th will be issued a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date of this dividend is Wednesday, March 25th. Altria Group’s dividend payout ratio (DPR) is presently 103.16%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on MO shares. UBS Group lifted their price objective on Altria Group from $67.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, March 9th. Stifel Nicolaus decreased their price target on Altria Group from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Jefferies Financial Group lifted their price target on Altria Group from $47.00 to $50.00 and gave the company an “underperform” rating in a report on Wednesday, March 4th. Argus raised shares of Altria Group to a “hold” rating in a research note on Tuesday, January 13th. Finally, Barclays upped their price objective on shares of Altria Group from $57.00 to $63.00 and gave the company an “underweight” rating in a research note on Monday, February 23rd. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $65.11.

View Our Latest Stock Analysis on MO

Insiders Place Their Bets

In related news, SVP Charles N. Whitaker sold 27,908 shares of Altria Group stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $67.57, for a total transaction of $1,885,743.56. Following the sale, the senior vice president owned 180,869 shares of the company’s stock, valued at $12,221,318.33. The trade was a 13.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.08% of the company’s stock.

About Altria Group

(Free Report)

Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.

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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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