Denali Advisors LLC Boosts Position in Altria Group Inc (NYSE:MO)

Denali Advisors LLC boosted its holdings in Altria Group Inc (NYSE:MO) by 16.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 88,500 shares of the company’s stock after buying an additional 12,700 shares during the period. Denali Advisors LLC’s holdings in Altria Group were worth $3,620,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Waters Parkerson & CO. LLC raised its stake in shares of Altria Group by 0.3% during the second quarter. Waters Parkerson & CO. LLC now owns 73,348 shares of the company’s stock valued at $3,473,000 after purchasing an additional 225 shares during the period. Outlook Wealth Advisors LLC raised its stake in shares of Altria Group by 2.6% during the second quarter. Outlook Wealth Advisors LLC now owns 9,006 shares of the company’s stock valued at $426,000 after purchasing an additional 225 shares during the period. Busey Wealth Management raised its stake in shares of Altria Group by 1.5% during the second quarter. Busey Wealth Management now owns 15,478 shares of the company’s stock valued at $732,000 after purchasing an additional 234 shares during the period. Investors Asset Management of Georgia Inc. GA ADV raised its stake in shares of Altria Group by 0.6% during the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 37,591 shares of the company’s stock valued at $1,780,000 after purchasing an additional 240 shares during the period. Finally, Trust Co. of Toledo NA OH raised its stake in shares of Altria Group by 5.4% during the second quarter. Trust Co. of Toledo NA OH now owns 4,719 shares of the company’s stock valued at $223,000 after purchasing an additional 240 shares during the period. Hedge funds and other institutional investors own 63.25% of the company’s stock.

MO has been the subject of a number of research analyst reports. Goldman Sachs Group lowered shares of Altria Group from a “buy” rating to a “neutral” rating and set a $49.86 price target for the company. in a research note on Friday, July 12th. Morgan Stanley set a $44.00 price target on shares of Altria Group and gave the stock a “hold” rating in a research note on Tuesday, September 24th. Royal Bank of Canada set a $68.00 price target on shares of Altria Group and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Piper Jaffray Companies set a $49.00 price target on shares of Altria Group and gave the stock a “hold” rating in a research note on Monday, September 30th. Finally, Cowen restated a “hold” rating on shares of Altria Group in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $57.53.

Shares of NYSE:MO traded up $0.46 during midday trading on Wednesday, reaching $42.46. The company had a trading volume of 7,803,440 shares, compared to its average volume of 10,456,403. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.56 and a quick ratio of 0.28. The stock’s fifty day moving average price is $42.84 and its 200-day moving average price is $49.15. The stock has a market capitalization of $77.81 billion, a P/E ratio of 10.64, a PEG ratio of 1.55 and a beta of 0.40. Altria Group Inc has a one year low of $39.30 and a one year high of $66.04.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.10. The business had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.08 billion. Altria Group had a net margin of 25.04% and a return on equity of 51.53%. The business’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 earnings per share. As a group, sell-side analysts forecast that Altria Group Inc will post 4.21 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Monday, September 16th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 7.91%. The ex-dividend date is Friday, September 13th. This is an increase from Altria Group’s previous quarterly dividend of $0.80. Altria Group’s payout ratio is currently 84.21%.

Altria Group declared that its board has approved a share repurchase program on Tuesday, July 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire up to 1.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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: What is the quiet period?

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