Eagle Asset Management Inc. Sells 126,920 Shares of Altria Group Inc (MO)

Eagle Asset Management Inc. lessened its holdings in Altria Group Inc (NYSE:MO) by 6.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,719,652 shares of the company’s stock after selling 126,920 shares during the period. Eagle Asset Management Inc. owned approximately 0.09% of Altria Group worth $84,933,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MO. Litman Gregory Asset Management LLC purchased a new position in Altria Group in the 4th quarter valued at approximately $30,000. Clean Yield Group purchased a new position in Altria Group in the 4th quarter valued at approximately $32,000. Transamerica Financial Advisors Inc. boosted its position in Altria Group by 627.6% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 713 shares of the company’s stock valued at $36,000 after buying an additional 615 shares during the period. Massey Quick Simon & CO. LLC boosted its position in Altria Group by 631.3% in the 4th quarter. Massey Quick Simon & CO. LLC now owns 1,097 shares of the company’s stock valued at $54,000 after buying an additional 947 shares during the period. Finally, Alpha Windward LLC boosted its position in Altria Group by 1,556.7% in the 4th quarter. Alpha Windward LLC now owns 1,110 shares of the company’s stock valued at $55,000 after buying an additional 1,043 shares during the period. 64.10% of the stock is owned by institutional investors.

In related news, Director Nabil Y. Sakkab purchased 1,032 shares of the business’s stock in a transaction that occurred on Thursday, February 21st. The shares were purchased at an average cost of $50.42 per share, for a total transaction of $52,033.44. Following the purchase, the director now directly owns 38,308 shares of the company’s stock, valued at $1,931,489.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Ivan S. Feldman sold 6,802 shares of Altria Group stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $51.18, for a total transaction of $348,126.36. The disclosure for this sale can be found here. 0.11% of the stock is owned by company insiders.

Altria Group stock opened at $56.75 on Friday. The firm has a market cap of $106.37 billion, a PE ratio of 14.22, a PEG ratio of 1.66 and a beta of 0.37. Altria Group Inc has a 12-month low of $42.40 and a 12-month high of $66.04. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.20 and a quick ratio of 0.09.

Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, January 31st. The company reported $0.95 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.95. The business had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.81 billion. Altria Group had a net margin of 27.45% and a return on equity of 49.05%. During the same period in the previous year, the company earned $0.91 EPS. As a group, sell-side analysts forecast that Altria Group Inc will post 4.21 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, March 25th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, March 22nd. This represents a $3.20 annualized dividend and a yield of 5.64%. Altria Group’s dividend payout ratio is currently 80.20%.

MO has been the subject of several recent research reports. Cowen cut shares of Altria Group from an “outperform” rating to a “market perform” rating in a research report on Monday, January 7th. Zacks Investment Research cut shares of Altria Group from a “hold” rating to a “sell” rating in a research report on Wednesday, February 6th. TheStreet cut shares of Altria Group from a “b-” rating to a “c+” rating in a research report on Monday, January 7th. Jefferies Financial Group set a $56.00 price objective on shares of Altria Group and gave the stock a “hold” rating in a research report on Thursday, November 29th. Finally, ValuEngine cut shares of Altria Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 24th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. Altria Group presently has a consensus rating of “Hold” and an average target price of $65.86.

COPYRIGHT VIOLATION WARNING: This story was first published by American Banking News and is the property of of American Banking News. If you are accessing this story on another website, it was copied illegally and reposted in violation of United States and international copyright and trademark law. The correct version of this story can be accessed at https://www.americanbankingnews.com/2019/03/17/eagle-asset-management-inc-sells-126920-shares-of-altria-group-inc-mo.html.

Altria Group Profile

Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless 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.

See Also: Guidelines for Successful Channel Trading

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).

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

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.



Leave a Reply