Truvestments Capital LLC purchased a new stake in Altria Group Inc (NYSE:MO) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 24,088 shares of the company’s stock, valued at approximately $1,383,000. Altria Group accounts for about 1.1% of Truvestments Capital LLC’s portfolio, making the stock its 25th largest position.
A number of other hedge funds also recently modified their holdings of the stock. Baugh & Associates LLC boosted its holdings in Altria Group by 0.6% in the 4th quarter. Baugh & Associates LLC now owns 58,985 shares of the company’s stock valued at $2,913,000 after purchasing an additional 360 shares in the last quarter. CX Institutional boosted its holdings in Altria Group by 45.9% in the 4th quarter. CX Institutional now owns 36,512 shares of the company’s stock valued at $1,803,000 after purchasing an additional 11,479 shares in the last quarter. Waller Financial Planning Group Inc. purchased a new stake in Altria Group in the 4th quarter valued at approximately $277,000. Dean Investment Associates LLC boosted its holdings in Altria Group by 7.0% in the 4th quarter. Dean Investment Associates LLC now owns 37,281 shares of the company’s stock valued at $1,841,000 after purchasing an additional 2,451 shares in the last quarter. Finally, Cooper Financial Group purchased a new stake in Altria Group in the 4th quarter valued at approximately $265,000. Hedge funds and other institutional investors own 64.35% of the company’s stock.
In related news, VP Ivan S. Feldman sold 6,802 shares of the company’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $51.18, for a total value of $348,126.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Nabil Y. Sakkab bought 1,352 shares of Altria Group stock in a transaction that occurred on Monday, February 25th. The stock was bought at an average cost of $52.11 per share, for a total transaction of $70,452.72. Following the purchase, the director now owns 39,660 shares in the company, valued at approximately $2,066,682.60. The disclosure for this purchase can be found here. 0.11% of the stock is currently owned by corporate insiders.
Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, January 31st. The company reported $0.95 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.95. The business had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.81 billion. Altria Group had a return on equity of 49.05% and a net margin of 27.45%. During the same quarter in the previous year, the company earned $0.91 EPS. Analysts expect that Altria Group Inc will post 4.2 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, March 25th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 5.70%. The ex-dividend date is Friday, March 22nd. Altria Group’s payout ratio is currently 80.20%.
A number of equities research analysts have weighed in on MO shares. Citigroup lowered Altria Group from a “neutral” rating to a “sell” rating in a report on Friday, December 21st. Morgan Stanley lowered Altria Group from an “equal weight” rating to an “underweight” rating in a report on Tuesday, January 22nd. Cowen lowered Altria Group from an “outperform” rating to a “market perform” rating in a report on Monday, January 7th. TheStreet lowered Altria Group from a “b-” rating to a “c+” rating in a report on Monday, January 7th. Finally, Deutsche Bank lowered their price objective on Altria Group from $62.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, December 21st. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. Altria Group presently has a consensus rating of “Hold” and a consensus target price of $63.11.
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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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