Altria Group Inc (NYSE:MO) Shares Purchased by Convergence Investment Partners LLC

Share on StockTwits

Convergence Investment Partners LLC increased its stake in shares of Altria Group Inc (NYSE:MO) by 3.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 49,860 shares of the company’s stock after purchasing an additional 1,671 shares during the period. Convergence Investment Partners LLC’s holdings in Altria Group were worth $1,957,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MO. Capital World Investors raised its holdings in Altria Group by 10.9% in the 1st quarter. Capital World Investors now owns 82,778,790 shares of the company’s stock valued at $3,201,056,000 after acquiring an additional 8,150,622 shares during the last quarter. State Street Corp raised its holdings in Altria Group by 5.2% in the 1st quarter. State Street Corp now owns 80,112,432 shares of the company’s stock valued at $3,162,460,000 after acquiring an additional 3,957,880 shares during the last quarter. SG Americas Securities LLC raised its holdings in Altria Group by 2,712.5% in the 2nd quarter. SG Americas Securities LLC now owns 3,810,462 shares of the company’s stock valued at $149,561,000 after acquiring an additional 3,956,319 shares during the last quarter. BlackRock Inc. raised its holdings in Altria Group by 2.2% in the 1st quarter. BlackRock Inc. now owns 146,451,570 shares of the company’s stock valued at $5,663,283,000 after acquiring an additional 3,220,828 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Altria Group by 22.7% in the 1st quarter. JPMorgan Chase & Co. now owns 16,967,449 shares of the company’s stock valued at $656,132,000 after acquiring an additional 3,141,027 shares during the last quarter. Hedge funds and other institutional investors own 63.59% of the company’s stock.

Shares of MO traded down $0.43 during midday trading on Friday, hitting $41.15. 7,567,629 shares of the stock were exchanged, compared to its average volume of 6,420,735. Altria Group Inc has a 52-week low of $30.95 and a 52-week high of $52.45. The company has a debt-to-equity ratio of 4.76, a quick ratio of 0.53 and a current ratio of 0.75. The stock has a fifty day simple moving average of $40.34 and a 200 day simple moving average of $41.29. The firm has a market cap of $76.47 billion, a P/E ratio of -79.13, a P/E/G ratio of 1.93 and a beta of 0.43.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.03. The firm had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5.08 billion. Altria Group had a positive return on equity of 109.11% and a negative net margin of 3.57%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.10 EPS. As a group, equities research analysts forecast that Altria Group Inc will post 4.3 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Tuesday, September 15th will be issued a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 8.36%. The ex-dividend date of this dividend is Monday, September 14th. This is an increase from Altria Group’s previous quarterly dividend of $0.84. Altria Group’s payout ratio is currently 79.62%.

A number of analysts have commented on MO shares. Panmure Gordon upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a report on Friday, April 3rd. Citigroup increased their price objective on shares of Altria Group from $45.00 to $46.00 and gave the company a “buy” rating in a report on Thursday. Cfra increased their price objective on shares of Altria Group from $42.00 to $44.00 and gave the company a “hold” rating in a report on Thursday, April 30th. Deutsche Bank increased their price target on shares of Altria Group from $50.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $52.00 price target on shares of Altria Group in a research note on Monday, June 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $50.36.

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.

Recommended Story: How are the companies in the S&P 500 selected?

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.