Institute for Wealth Management LLC. lowered its position in Altria Group Inc (NYSE:MO) by 20.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 19,619 shares of the company’s stock after selling 5,026 shares during the period. Institute for Wealth Management LLC.’s holdings in Altria Group were worth $1,395,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. YorkBridge Wealth Partners LLC raised its holdings in shares of Altria Group by 0.6% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 4,912 shares of the company’s stock worth $366,000 after acquiring an additional 28 shares during the period. Cheviot Value Management LLC raised its holdings in shares of Altria Group by 1.0% during the 2nd quarter. Cheviot Value Management LLC now owns 2,928 shares of the company’s stock worth $218,000 after acquiring an additional 28 shares during the period. Thompson Davis & CO. Inc. raised its holdings in shares of Altria Group by 0.5% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 5,757 shares of the company’s stock worth $429,000 after acquiring an additional 29 shares during the period. Roosevelt Investment Group Inc. raised its holdings in shares of Altria Group by 1.1% during the 2nd quarter. Roosevelt Investment Group Inc. now owns 3,123 shares of the company’s stock worth $233,000 after acquiring an additional 35 shares during the period. Finally, Frontier Wealth Management LLC raised its holdings in shares of Altria Group by 0.5% during the 2nd quarter. Frontier Wealth Management LLC now owns 11,559 shares of the company’s stock worth $861,000 after acquiring an additional 53 shares during the period. Institutional investors own 62.57% of the company’s stock.
Several research analysts have recently commented on the company. Deutsche Bank assumed coverage on Altria Group in a report on Monday, March 26th. They set a “buy” rating and a $72.00 price target on the stock. Jefferies Group reiterated a “buy” rating and set a $84.00 price target on shares of Altria Group in a report on Thursday, March 15th. Argus reiterated a “buy” rating and set a $79.00 price target (up previously from $66.13) on shares of Altria Group in a report on Wednesday, March 14th. Zacks Investment Research lowered Altria Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Finally, Vetr upgraded shares of Altria Group from a “buy” rating to a “strong-buy” rating and set a $76.87 price objective on the stock in a report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $74.99.
Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, February 1st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.11. The firm had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.80 billion. Altria Group had a net margin of 39.97% and a return on equity of 50.01%. Altria Group’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 EPS. analysts expect that Altria Group Inc will post 4.01 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Thursday, March 15th will be given a $0.70 dividend. This is an increase from Altria Group’s previous quarterly dividend of $0.66. This represents a $2.80 annualized dividend and a yield of 4.49%. The ex-dividend date is Wednesday, March 14th. Altria Group’s payout ratio is currently 82.84%.
Altria Group declared that its board has authorized a stock repurchase plan on Thursday, February 1st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
In other Altria Group news, CEO Craig A. Johnson sold 14,953 shares of Altria Group stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $66.59, for a total value of $995,720.27. Following the completion of the transaction, the chief executive officer now directly owns 64,809 shares of the company’s stock, valued at approximately $4,315,631.31. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian W. Quigley sold 3,464 shares of Altria Group stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $62.40, for a total value of $216,153.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,117 shares of company stock valued at $1,821,707. 0.11% of the stock is currently owned by corporate insiders.
About Altria Group
Altria Group, Inc is a holding company. The Company’s segments include smokeable products, smokeless products and wine. The Company’s subsidiaries include Philip Morris USA Inc (PM USA), which is engaged in the manufacture and sale of cigarettes in the United States; John Middleton Co (Middleton), which is engaged in the manufacture and sale of machine-made cigars and pipe tobacco, and UST LLC (UST), which, through its subsidiaries, including U.S.
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