Evolve Private Wealth LLC purchased a new stake in Altria Group, Inc. (NYSE:MO – Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 68,029 shares of the company’s stock, valued at approximately $3,995,000.
Other large investors also recently modified their holdings of the company. Darwin Wealth Management LLC bought a new position in shares of Altria Group in the 2nd quarter valued at $27,000. Navalign LLC bought a new position in shares of Altria Group in the 4th quarter valued at $28,000. EMC Capital Management bought a new position in shares of Altria Group in the 3rd quarter valued at $33,000. Creative Capital Management Investments LLC bought a new position in shares of Altria Group in the 4th quarter valued at $29,000. Finally, Miller Capital Partners Inc. bought a new position in shares of Altria Group in the 4th quarter valued at $29,000. 57.41% of the stock is currently owned by institutional investors.
Altria Group Stock Down 1.8%
NYSE MO opened at $68.91 on Thursday. The company has a market capitalization of $115.08 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 2.62 and a beta of 0.46. Altria Group, Inc. has a twelve month low of $54.70 and a twelve month high of $74.56. The stock has a fifty day simple moving average of $69.61 and a 200 day simple moving average of $65.21.
Altria Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Monday, June 15th will be issued a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date is Monday, June 15th. Altria Group’s dividend payout ratio is presently 88.70%.
Insiders Place Their Bets
In related news, Director Ellen R. Strahlman sold 2,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $72.56, for a total value of $145,120.00. Following the completion of the sale, the director directly owned 25,102 shares in the company, valued at $1,821,401.12. This represents a 7.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ennis Debra J. Kelly sold 5,790 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $72.25, for a total value of $418,327.50. Following the completion of the sale, the director owned 73,809 shares of the company’s stock, valued at $5,332,700.25. The trade was a 7.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.10% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have recently commented on MO shares. The Goldman Sachs Group reiterated a “buy” rating and issued a $77.00 price target on shares of Altria Group in a research note on Thursday, April 30th. Wall Street Zen upgraded Altria Group from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Deutsche Bank Aktiengesellschaft increased their price target on Altria Group from $60.00 to $66.00 and gave the company a “hold” rating in a research note on Monday, May 4th. Citigroup lifted their price target on shares of Altria Group from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Finally, Barclays boosted their price objective on shares of Altria Group from $63.00 to $64.00 and gave the stock an “underweight” rating in a research note on Friday, May 15th. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $70.44.
Read Our Latest Report on Altria Group
Altria Group Company Profile
Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.
Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.
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