Childress Capital Advisors LLC bought a new position in shares of Altria Group, Inc. (NYSE:MO) during the 4th quarter, HoldingsChannel reports. The fund bought 2,022 shares of the company’s stock, valued at approximately $83,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Freedman Financial Associates Inc. acquired a new stake in Altria Group in the fourth quarter valued at about $25,000. Financial Avengers Inc. acquired a new stake in Altria Group in the fourth quarter valued at about $29,000. Kathmere Capital Management LLC acquired a new stake in Altria Group in the third quarter valued at about $33,000. Addison Advisors LLC acquired a new stake in Altria Group in the fourth quarter valued at about $33,000. Finally, RWM Asset Management LLC acquired a new stake in Altria Group in the fourth quarter valued at about $34,000. 62.18% of the stock is currently owned by institutional investors.
MO has been the topic of several research analyst reports. TheStreet raised Altria Group from a “c” rating to a “b-” rating in a research note on Thursday, January 28th. Deutsche Bank Aktiengesellschaft raised their price objective on Altria Group from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, March 19th. Sanford C. Bernstein began coverage on Altria Group in a research report on Tuesday, January 19th. They set an “outperform” rating and a $53.00 target price on the stock. Royal Bank of Canada reaffirmed a “buy” rating on shares of Altria Group in a research report on Sunday, January 31st. Finally, UBS Group cut Altria Group from a “buy” rating to a “neutral” rating and set a $46.00 target price on the stock. in a research report on Tuesday, March 16th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Altria Group presently has an average rating of “Buy” and a consensus price target of $49.90.
Altria Group (NYSE:MO) last announced its earnings results on Wednesday, January 27th. The company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.03). The business had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $4.95 billion. Altria Group had a return on equity of 148.93% and a net margin of 2.84%. Altria Group’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.02 earnings per share. Sell-side analysts anticipate that Altria Group, Inc. will post 4.37 earnings per share for the current fiscal year.
Altria Group declared that its Board of Directors has initiated a stock repurchase program on Thursday, January 28th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to buy up to 2.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 30th. Investors of record on Thursday, March 25th will be issued a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 6.73%. The ex-dividend date is Wednesday, March 24th. Altria Group’s dividend payout ratio is presently 81.52%.
About Altria Group
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, oral tobacco 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, as well as provides on! oral nicotine pouches.
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