Cigna Investments Inc. New grew its stake in shares of Altria Group Inc (NYSE:MO) by 6.5% in the first quarter, HoldingsChannel.com reports. The firm owned 52,684 shares of the company’s stock after buying an additional 3,200 shares during the quarter. Cigna Investments Inc. New’s holdings in Altria Group were worth $2,036,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC purchased a new stake in shares of Altria Group during the fourth quarter valued at approximately $27,000. New South Capital Management Inc. purchased a new stake in shares of Altria Group during the fourth quarter valued at approximately $30,000. Pflug Koory LLC boosted its stake in shares of Altria Group by 70.0% during the first quarter. Pflug Koory LLC now owns 765 shares of the company’s stock valued at $30,000 after purchasing an additional 315 shares during the period. Sanders Morris Harris LLC lifted its stake in Altria Group by 5.1% in the first quarter. Sanders Morris Harris LLC now owns 82,156 shares of the company’s stock worth $31,000 after acquiring an additional 4,006 shares during the period. Finally, Country Trust Bank lifted its stake in Altria Group by 58.4% in the first quarter. Country Trust Bank now owns 814 shares of the company’s stock worth $31,000 after acquiring an additional 300 shares during the period. 63.50% of the stock is owned by hedge funds and other institutional investors.
MO traded up $0.19 during trading on Friday, reaching $37.73. The stock had a trading volume of 6,861,912 shares, compared to its average volume of 10,536,376. The stock’s 50 day moving average is $38.45 and its two-hundred day moving average is $44.43. The company has a current ratio of 0.71, a quick ratio of 0.53 and a debt-to-equity ratio of 4.06. The company has a market capitalization of $69.76 billion, a price-to-earnings ratio of -77.00, a P/E/G ratio of 1.76 and a beta of 0.45. Altria Group Inc has a one year low of $30.95 and a one year high of $53.11.
Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, April 30th. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.11. Altria Group had a positive return on equity of 84.55% and a negative net margin of 3.33%. The firm had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.51 billion. During the same period last year, the company earned $0.90 earnings per share. The company’s revenue was up 16.0% on a year-over-year basis. On average, equities research analysts predict that Altria Group Inc will post 4.26 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.84 per share. The ex-dividend date is Friday, June 12th. This represents a $3.36 annualized dividend and a dividend yield of 8.91%. Altria Group’s payout ratio is presently 79.62%.
MO has been the subject of a number of research analyst reports. Panmure Gordon raised Altria Group from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research note on Friday, April 3rd. Goldman Sachs Group initiated coverage on Altria Group in a research note on Wednesday, April 1st. They issued a “neutral” rating and a $35.00 price target for the company. ValuEngine lowered Altria Group from a “hold” rating to a “sell” rating in a research note on Thursday, April 2nd. Morgan Stanley raised Altria Group from an “equal weight” rating to an “overweight” rating and set a $49.00 price target for the company in a research note on Monday, March 16th. Finally, Piper Sandler raised Altria Group from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $52.00 to $57.00 in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. Altria Group presently has a consensus rating of “Buy” and an average target price of $50.79.
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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