Weybosset Research & Management LLC acquired a new stake in shares of Altria Group Inc (NYSE:MO) in the third quarter, HoldingsChannel.com reports. The firm acquired 3,384 shares of the company’s stock, valued at approximately $204,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. BlackRock Inc. raised its holdings in shares of Altria Group by 3.4% in the second quarter. BlackRock Inc. now owns 138,589,215 shares of the company’s stock valued at $7,870,481,000 after buying an additional 4,581,335 shares during the last quarter. FMR LLC raised its holdings in shares of Altria Group by 14.1% in the second quarter. FMR LLC now owns 37,263,858 shares of the company’s stock valued at $2,116,214,000 after buying an additional 4,613,088 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Altria Group by 4.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 21,786,839 shares of the company’s stock worth $1,237,273,000 after purchasing an additional 855,416 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Altria Group by 4.4% during the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 19,553,628 shares of the company’s stock worth $1,218,582,000 after purchasing an additional 822,620 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Altria Group by 2.6% during the 2nd quarter. Janus Henderson Group PLC now owns 18,492,919 shares of the company’s stock worth $1,050,215,000 after purchasing an additional 460,964 shares during the last quarter. 63.12% of the stock is owned by institutional investors.
Several analysts have weighed in on the company. Zacks Investment Research cut Altria Group from a “buy” rating to a “hold” rating in a report on Wednesday. Citigroup boosted their price objective on Altria Group from $59.00 to $67.00 and gave the stock a “hold” rating in a report on Friday, September 21st. Bank of America set a $70.00 price objective on Altria Group and gave the stock a “buy” rating in a report on Thursday, September 13th. ValuEngine raised Altria Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 15th. Finally, Jefferies Financial Group cut Altria Group from a “buy” rating to a “hold” rating and set a $61.00 price objective for the company. in a report on Friday, August 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $70.28.
Shares of NYSE:MO opened at $60.06 on Friday. The stock has a market cap of $113.69 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 1.71 and a beta of 0.61. Altria Group Inc has a 1-year low of $53.91 and a 1-year high of $74.38. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.65 and a quick ratio of 0.31.
Altria Group (NYSE:MO) last posted its earnings results on Thursday, July 26th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.01. The company had revenue of $4.88 billion during the quarter, compared to analyst estimates of $5.02 billion. Altria Group had a return on equity of 48.88% and a net margin of 42.00%. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.85 EPS. As a group, sell-side analysts expect that Altria Group Inc will post 4 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 10th. Stockholders of record on Friday, September 14th were given a dividend of $0.80 per share. This is a positive change from Altria Group’s previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a dividend yield of 5.33%. The ex-dividend date of this dividend was Thursday, September 13th. Altria Group’s payout ratio is presently 94.67%.
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.
Further Reading: Ex-Dividend
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