MPI Investment Management Inc. acquired a new stake in Altria Group Inc (NYSE:MO) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 28,154 shares of the company’s stock, valued at approximately $2,010,000. Altria Group accounts for approximately 2.4% of MPI Investment Management Inc.’s holdings, making the stock its 16th biggest holding.
A number of other institutional investors and hedge funds have also recently made changes to their positions in MO. Sfmg LLC grew its stake in shares of Altria Group by 1.5% during the 2nd quarter. Sfmg LLC now owns 12,145 shares of the company’s stock worth $904,000 after purchasing an additional 174 shares during the period. Boys Arnold & Co. Inc. grew its stake in shares of Altria Group by 4.3% during the 2nd quarter. Boys Arnold & Co. Inc. now owns 30,597 shares of the company’s stock worth $2,279,000 after purchasing an additional 1,253 shares during the period. Andra AP fonden grew its stake in shares of Altria Group by 108.2% during the 2nd quarter. Andra AP fonden now owns 387,600 shares of the company’s stock worth $28,865,000 after purchasing an additional 201,400 shares during the period. Windsor Capital Management LLC grew its stake in shares of Altria Group by 6.3% during the 2nd quarter. Windsor Capital Management LLC now owns 12,366 shares of the company’s stock worth $920,000 after purchasing an additional 734 shares during the period. Finally, Pacer Advisors Inc. grew its stake in shares of Altria Group by 8.3% during the 2nd quarter. Pacer Advisors Inc. now owns 44,843 shares of the company’s stock worth $3,339,000 after purchasing an additional 3,451 shares during the period. 62.77% of the stock is currently owned by institutional investors.
MO has been the topic of a number of research reports. Jefferies Group raised shares of Altria Group from a “hold” rating to a “buy” rating and lowered their price objective for the company from $70.04 to $70.00 in a research note on Friday, January 19th. Berenberg Bank raised shares of Altria Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $60.01 to $71.00 in a research note on Tuesday, December 19th. Vetr cut shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.65 price objective on the stock. in a research note on Monday, November 13th. Zacks Investment Research raised shares of Altria Group from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a research note on Tuesday, February 6th. Finally, Wells Fargo & Co increased their price objective on shares of Altria Group from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, January 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $73.66.
Altria Group (NYSE:MO) last released its earnings results on Thursday, February 1st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.11. The company had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.80 billion. Altria Group had a net margin of 39.97% and a return on equity of 50.01%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 EPS. equities analysts anticipate that Altria Group Inc will post 4 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Thursday, March 15th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.26%. This is a positive change from Altria Group’s previous quarterly dividend of $0.66. The ex-dividend date is Wednesday, March 14th. Altria Group’s dividend payout ratio is 49.62%.
Altria Group declared that its board has initiated a share buyback plan on Thursday, February 1st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
In other Altria Group news, CEO Craig A. Johnson sold 14,953 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $66.59, for a total value of $995,720.27. Following the transaction, the chief executive officer now directly owns 64,809 shares in the company, valued at approximately $4,315,631.31. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Brian W. Quigley sold 3,464 shares of the company’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $62.40, for a total transaction of $216,153.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,117 shares of company stock worth $1,821,707. 0.11% of the stock is owned by insiders.
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Altria Group Company Profile
Altria Group, Inc is a holding company. The Company’s segments include smokeable products, smokeless products and wine. 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 cigars and pipe tobacco, and UST LLC (UST), which, through its subsidiaries, including U.S.
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