Rothschild Investment Corp IL reduced its position in shares of Altria Group Inc (NYSE:MO) by 8.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,986 shares of the company’s stock after selling 3,220 shares during the period. Rothschild Investment Corp IL’s holdings in Altria Group were worth $1,431,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. HMS Capital Management LLC acquired a new position in Altria Group during the 2nd quarter valued at $41,000. Salomon & Ludwin LLC raised its stake in Altria Group by 189.0% during the 2nd quarter. Salomon & Ludwin LLC now owns 867 shares of the company’s stock valued at $41,000 after purchasing an additional 567 shares during the last quarter. Titan Capital Management LLC CA acquired a new position in Altria Group during the 2nd quarter valued at $44,000. Interactive Financial Advisors raised its stake in Altria Group by 166.7% during the 1st quarter. Interactive Financial Advisors now owns 800 shares of the company’s stock valued at $46,000 after purchasing an additional 500 shares during the last quarter. Finally, Perkins Coie Trust Co raised its stake in Altria Group by 214.0% during the 2nd quarter. Perkins Coie Trust Co now owns 967 shares of the company’s stock valued at $46,000 after purchasing an additional 659 shares during the last quarter. 63.25% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently commented on the stock. Royal Bank of Canada set a $68.00 target price on shares of Altria Group and gave the company a “buy” rating in a research note on Wednesday, July 31st. Morgan Stanley set a $44.00 target price on shares of Altria Group and gave the company a “hold” rating in a research note on Tuesday, September 24th. ValuEngine upgraded shares of Altria Group from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Goldman Sachs Group cut shares of Altria Group from a “buy” rating to a “neutral” rating and set a $49.86 target price for the company. in a research note on Friday, July 12th. Finally, Cowen reiterated a “hold” rating on shares of Altria Group in a research note on Thursday, September 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $57.53.
Shares of MO stock traded down $0.42 during mid-day trading on Friday, reaching $42.56. The company’s stock had a trading volume of 412,788 shares, compared to its average volume of 14,594,293. Altria Group Inc has a 1-year low of $39.30 and a 1-year high of $66.04. The company has a market cap of $78.46 billion, a P/E ratio of 10.67, a PEG ratio of 1.56 and a beta of 0.40. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.28 and a current ratio of 0.56. The firm’s 50-day moving average is $42.78 and its two-hundred day moving average is $49.09.
Altria Group (NYSE:MO) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.10. Altria Group had a net margin of 25.04% and a return on equity of 51.53%. The company had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. During the same quarter in the prior year, the company posted $1.01 EPS. The business’s revenue was up 6.4% on a year-over-year basis. Sell-side analysts anticipate that Altria Group Inc will post 4.21 EPS for the current year.
Altria Group declared that its Board of Directors has initiated a share repurchase plan 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 stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Monday, September 16th were paid a $0.84 dividend. This is a boost from Altria Group’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 7.89%. Altria Group’s dividend payout ratio is currently 84.21%.
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.
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