Bruce G. Allen Investments LLC acquired a new stake in Altria Group, Inc. (NYSE:MO – Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 955 shares of the company’s stock, valued at approximately $39,000.
Other hedge funds also recently modified their holdings of the company. Moneta Group Investment Advisors LLC grew its holdings in Altria Group by 108,222.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 18,590,308 shares of the company’s stock worth $849,763,000 after purchasing an additional 18,573,146 shares during the period. Capital World Investors grew its holdings in Altria Group by 8.5% during the second quarter. Capital World Investors now owns 96,401,945 shares of the company’s stock worth $4,367,008,000 after purchasing an additional 7,546,851 shares during the period. Barclays PLC grew its holdings in Altria Group by 84.1% during the second quarter. Barclays PLC now owns 5,426,522 shares of the company’s stock worth $245,823,000 after purchasing an additional 2,478,576 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Altria Group by 6.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 36,302,349 shares of the company’s stock worth $1,896,798,000 after purchasing an additional 2,178,596 shares during the period. Finally, AQR Capital Management LLC grew its holdings in Altria Group by 54.1% during the third quarter. AQR Capital Management LLC now owns 4,710,670 shares of the company’s stock worth $198,084,000 after purchasing an additional 1,653,455 shares during the period. Institutional investors own 58.94% of the company’s stock.
Altria Group Stock Up 0.3 %
Shares of MO stock opened at $44.77 on Thursday. The firm has a 50 day moving average price of $41.09 and a two-hundred day moving average price of $41.53. The company has a market capitalization of $78.95 billion, a PE ratio of 9.80, a price-to-earnings-growth ratio of 2.69 and a beta of 0.65. Altria Group, Inc. has a 12-month low of $39.06 and a 12-month high of $48.04.
Altria Group (NYSE:MO – Get Free Report) last issued its quarterly earnings data on Thursday, February 1st. The company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.01. Altria Group had a net margin of 33.21% and a negative return on equity of 244.55%. The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same period last year, the business posted $1.18 earnings per share. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, research analysts expect that Altria Group, Inc. will post 5.08 EPS for the current year.
Altria Group announced that its board has authorized a share repurchase plan on Thursday, February 1st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to purchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
Altria Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, March 25th will be given a $0.98 dividend. The ex-dividend date is Friday, March 22nd. This represents a $3.92 dividend on an annualized basis and a dividend yield of 8.76%. Altria Group’s payout ratio is 85.78%.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on MO. StockNews.com cut Altria Group from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. UBS Group reiterated a “sell” rating and set a $36.10 price target on shares of Altria Group in a report on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Altria Group presently has a consensus rating of “Hold” and a consensus price target of $47.22.
View Our Latest Stock Analysis on Altria Group
Altria Group Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.
Further Reading
Want to see what other hedge funds are holding MO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altria Group, Inc. (NYSE:MO – Free Report).
Receive News & Ratings for Altria Group Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Altria Group and related companies with MarketBeat.com’s FREE daily email newsletter.
ABMN Staff
Source link
