Zions Bancorporation Has $2.27 Million Holdings in Altria Group Inc (MO)

Zions Bancorporation raised its stake in Altria Group Inc (NYSE:MO) by 9.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,665 shares of the company’s stock after purchasing an additional 3,246 shares during the period. Altria Group comprises 0.5% of Zions Bancorporation’s investment portfolio, making the stock its 18th biggest position. Zions Bancorporation’s holdings in Altria Group were worth $2,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. LFA Lugano Financial Advisors SA purchased a new position in shares of Altria Group in the 3rd quarter valued at approximately $103,000. IMA Wealth Inc. purchased a new position in shares of Altria Group in the 2nd quarter valued at approximately $106,000. Investment Partners LTD. purchased a new position in shares of Altria Group in the 3rd quarter valued at approximately $4,246,000. BerganKDV Wealth Management LLC purchased a new position in shares of Altria Group in the 2nd quarter valued at approximately $123,000. Finally, BDO Wealth Advisors LLC grew its stake in shares of Altria Group by 165.5% in the 2nd quarter. BDO Wealth Advisors LLC now owns 2,222 shares of the company’s stock valued at $126,000 after purchasing an additional 1,385 shares during the last quarter. 63.33% of the stock is currently owned by institutional investors.

In related news, Director Dinyar S. Devitre sold 3,165 shares of Altria Group stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $58.44, for a total transaction of $184,962.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.11% of the company’s stock.

MO has been the topic of several analyst reports. Argus lifted their target price on Altria Group from $70.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, October 29th. Sanford C. Bernstein started coverage on Altria Group in a report on Tuesday, October 23rd. They issued a “market perform” rating for the company. Zacks Investment Research raised Altria Group from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a report on Tuesday, September 25th. ValuEngine raised Altria Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 15th. Finally, Bank of America set a $70.00 price target on Altria Group and gave the company a “buy” rating in a report on Thursday, September 13th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Altria Group presently has an average rating of “Buy” and a consensus price target of $69.87.

Shares of MO stock opened at $64.87 on Wednesday. The firm has a market cap of $119.64 billion, a P/E ratio of 19.19, a PEG ratio of 1.81 and a beta of 0.40. Altria Group Inc has a 1 year low of $53.91 and a 1 year high of $74.38. The company has a quick ratio of 0.36, a current ratio of 0.60 and a debt-to-equity ratio of 0.77.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, October 25th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.01. The firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Altria Group had a return on equity of 48.31% and a net margin of 42.13%. As a group, research analysts predict that Altria Group Inc will post 3.99 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 10th. Investors of record on Friday, September 14th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, September 13th. This is a boost from Altria Group’s previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a yield of 4.93%. Altria Group’s payout ratio is currently 94.67%.

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About Altria Group

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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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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