LFA Lugano Financial Advisors SA bought a new position in shares of Altria Group Inc (NYSE:MO) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,700 shares of the company’s stock, valued at approximately $103,000.
Several other institutional investors have also recently bought and sold shares of the business. IMA Wealth Inc. bought a new stake in shares of Altria Group in the 2nd quarter worth approximately $106,000. BerganKDV Wealth Management LLC bought a new stake in shares of Altria Group in the 2nd quarter worth approximately $123,000. BDO Wealth Advisors LLC raised its holdings 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 worth $126,000 after purchasing an additional 1,385 shares during the period. Landaas & Co. WI ADV bought a new stake in shares of Altria Group in the 2nd quarter worth approximately $137,000. Finally, New England Asset Management Inc. bought a new stake in shares of Altria Group in the 2nd quarter worth approximately $138,000. 63.12% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on MO. Citigroup lifted their price objective on shares of Altria Group from $59.00 to $67.00 and gave the company a “hold” rating in a research note on Friday, September 21st. Zacks Investment Research lowered shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Wednesday. Stifel Nicolaus reduced their price objective on shares of Altria Group from $78.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, July 27th. Piper Jaffray Companies set a $75.00 price objective on shares of Altria Group and gave the company a “buy” rating in a research note on Monday, July 23rd. Finally, Jefferies Financial Group lowered shares of Altria Group from a “buy” rating to a “hold” rating and set a $61.00 price objective for the company. in a research note on Friday, August 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Altria Group currently has a consensus rating of “Buy” and an average target price of $70.28.
Altria Group stock opened at $60.06 on Friday. Altria Group Inc has a 1-year low of $53.91 and a 1-year high of $74.38. The company has a market capitalization of $113.69 billion, a P/E ratio of 17.77, a price-to-earnings-growth ratio of 1.71 and a beta of 0.61. The company has a quick ratio of 0.31, a current ratio of 0.65 and a debt-to-equity ratio of 0.83.
Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, July 26th. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. The firm had revenue of $4.88 billion during the quarter, compared to analyst estimates of $5.02 billion. Altria Group had a net margin of 42.00% and a return on equity of 48.88%. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.85 EPS. Sell-side analysts forecast that Altria Group Inc will post 4 EPS for the current year.
The company also recently declared 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 dividend on an annualized basis and a dividend yield of 5.33%. The ex-dividend date was Thursday, September 13th. Altria Group’s payout ratio is 94.67%.
In other news, Director Dinyar S. Devitre sold 3,165 shares of the business’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $58.44, for a total transaction of $184,962.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is owned by insiders.
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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